hassan benyoub’s Post

🏎️ The F1 Qatar Grand Prix: More Than Just a Race! 🇶🇦 As the engines roared at the Lusail International Circuit, the F1 Qatar Grand Prix wasn’t just a spectacle of speed and precision—it was a driving force for Qatar's economy. 💰 Here’s the fascinating intersection of motorsport and economics through the lens of FP&A: 📊 Economic Boost: The 2023 Qatar GP attracted more than 100,000 fans over the weekend, generating an estimated $280M+ in economic activity. Hospitality, travel, and retail sectors saw a significant uptick, contributing to Qatar’s growing GDP. 🚀 Tourism & Exposure: Events like F1 place Qatar in the global spotlight, with 1.5 billion+ viewers worldwide watching the race. The influx of international tourists supports Qatar’s ambitious goal to increase tourism's GDP contribution from 7% to 12% by 2030. 📈 FP&A Perspective: Events like F1 are catalysts for broader economic trends. In FP&A terms, these are high-impact "one-time events" that boost revenue streams while showcasing Qatar as a hub for sports and innovation. Imagine analyzing such spikes in inflows and planning future investments—aligning strategy with opportunities like these. 💡 Market Stats: Post-World Cup and with F1 in the mix, Qatar's stock market has shown resilience, with a 5% YoY growth in leisure and hospitality sectors. Events like these ripple through multiple industries, showcasing the power of diversification. Whether it's analyzing financial metrics or enjoying the thrill of the race, there’s one lesson to take: precision and strategy lead to success on and off the track. 🏁 What are your thoughts on how events like F1 reshape an economy? Let’s discuss in the comments! 🏎️📊

Are you lucky enough to be traveling to the Summer Games? Here are 6 helpful tips…

🚥 The Future of Formula 1 in Africa: From History to New Horizons 🚥 Africa 🌍 has a rich, yet often overlooked, history in the world of Formula 1 racing. The continent's journey with F1 began as early as 1958 with the Moroccan Grand Prix and later saw South Africa become the center of F1 action, hosting numerous races at Kyalami until 1993. But since then, the continent has been absent from the F1 calendar—an absence that raises the question: will Africa soon see the return of Formula 1? 🏎️ South Africa 🇿🇦 and Rwanda 🇷🇼 have emerged as the leading candidates to host what seems to be an inevitable African Grand Prix, each with their own impressive track records in hosting several mega-sporting events. 🇿🇦 South Africa, buoyed by public support and significant efforts from Sports Minister Gayton McKenzie, has been advocating for a revival at the historic Kyalami Circuit. McKenzie has held "positive discussions" with both F1 CEO Stefano Domenicali and FIA President Muhammad Ben Sulayem. In addition, Kyalami Grand Prix Circuit has been working with motorsport engineering consultancy, Apex Circuit Design, to match Formula 1 accreditation standards. 🇷🇼 Rwanda, with its strong economic growth and ambition to become a global sports destination, has also emerged as a compelling contender. President Paul Kgame seems adamant about bolstering Rwanda's ambitious sports policy by hosting a Grand Prix. Interestingly, the country will be hosting the 2024 FIA – Fédération Internationale de l'Automobile Awards - a clear strategic move to inch them closer to securing F1's return to Africa. Yet, bringing F1 back to Africa is no small feat. It requires not only the right infrastructure but also substantial investment to meet FIA's stringent circuit accreditation standards. The financial and logistical challenges are immense, but so too are the potential rewards for a continent ready to showcase its sporting legacy and capabilities on the world stage. 🎙️ On the latest episode of Africa Business of Sport Podcast, I am joined by Dr. Kamilla Swart-Arries, Program Director of the Masters of Sports & Entertainment Management and Associate Professor at Hamad Bin Khalifa University, who shares her expertise on the historical significance of F1 in Africa, the potential hosts for a future African Grand Prix, and the strategic moves required to make it a reality. 📲 Listen in and let me know your thoughts via the comments on: Spotify: https://lnkd.in/dN3NTKnx Apple: https://lnkd.in/dEqhR5RQ YouTube: https://lnkd.in/d7b6MMNc ____________ ♻️ If you found this post useful, please reshare it with your network and follow me Jabu Mtwa and Africa Business of Sport Podcast for #africa #sportbiz views and updates. #linkedinsports #f1 #africa #grandprix #kyalami #kigali

I am pleased to share my next article, "The Political and Economic Impacts of Formula 1 Races in Azerbaijan: Myths and Realities", which offers a unique perspective and in-depth analysis on this topic.Since 2016, Azerbaijan has been hosting the Formula 1 Grand Prix. Due to COVID-19, the race was not held in 2020 and was conducted without spectators in 2021. The initial contract for the event was supposed to end in 2020, but it was extended for another three years. In 2023, Azerbaijan secured the continuation of its hosting rights until at least 2026 1. Apart from Formula 1, the country has hosted several other prestigious international events, including the Eurovision Song Contest in 2012, the first European Olympic Games in 2015, the 4th Islamic Solidarity Games in 2017, and the European Youth Olympic Festival in 2019. In 2024, Azerbaijan will host COP29, the most significant event in its history since independence, further adding to its diverse event portfolio. Despite some questions surrounding Baku's role as a host for Formula 1 compared to other international sports events, the Azerbaijani government has regularly organized the race for the past seven years and has yet to address these questions. In this paper, we examine the myths and realities regarding the political and economic impacts of Formula 1 races. For those interested, I invite you to read the full article through this link, acknowledging and respecting your valuable time and interest in this crucial topic. Available at SSRN: https://lnkd.in/drEzG_Zb or https://lnkd.in/dJP_hPjk

As the Paris Olympics comes to an end, Olympic fever has swept through China, igniting national pride and sparking a travel boom among Chinese tourists. 🇫🇷 Ctrip reported a 114% surge in bookings from China to Paris during the Olympics compared to the previous year. ✈ Umetrip noted a 1.1 time year-on-year growth in flight bookings to France, while bookings to Europe rose by about 89%. ⚽ Tongcheng found the Paris Olympics and the UEFA EURO 2024 football championship resulted in France and Germany’s booking volumes from China doubling compared to last year. Want to learn how to capture this surge in demand by engaging Chinese audiences from digital channels? Check out our latest blog 👉 https://lnkd.in/gKAikJWy

The FIA General Assembly held in #Rwanda marks a significant step for the development of motorsport in #Africa. In this interview, Musa Locho, originally from Kenya and FIA’s technical delegate, shares his thoughts on the importance of this event, its impact on the continent's economy, and the role of motorsport in structuring #infrastructure, creating jobs, and developing youth, as well as its potential to catalyze broader transformation. #motorsport #economicdevelopment #youthengagement #STEMeducation #tourism #jobcreation #Formula1 #GirlsonTrack https://lnkd.in/g_sjnUr9

Formula 1 Returning to Africa? F1 is set to make an exciting return to Africa, with South Africa leading the charge to host a Grand Prix as early as 2026 or 2027. The last time F1 raced on African soil was in 1993 at the iconic Kyalami Circuit near Johannesburg. This 30-year absence has left a noticeable gap in F1's global reach, with the sport growing considerably year after year. These recent developments suggest an exciting future for the sport on the continent. Personally, this sparks a multitude of interests and raises many questions for me. Like… What does this mean for potential sponsorships? What kind of new fanbase will the sport attract? How will hosting an F1 race impact the economic growth of the African host country? What unique cultural experiences can African countries bring to the F1 circuit? The return of F1 to Africa holds a major impact for the sport's future and diversity. Let's get into the nitty gritty of all of this! 1. Global Expansion: A race in Africa would complete F1's presence on all inhabited continents, truly making it a world championship! 2. Diversity and Inclusion: An African Grand Prix could inspire a new generation of African motorsport enthusiasts, potentially leading to more diverse representation in the sport. 3. Economic Impact: Hosting F1 races could boost tourism and provide significant economic benefits to the host country. - The event could support approximately 3,000 local jobs, with salaries totaling around $100 million. - During race week, visitor spending could reach $150 million, with hotel occupancy rates potentially increasing by 70-100%. - Based on data from Malaysia in 2017, hosting an F1 race could contribute to an additional 500,000 tourism arrivals annually. The current sports market in Africa is estimated at $12 billion and could reach over $20 billion by 2035. While no South African companies currently sponsor F1 teams or events, several major corporations could potentially benefit from F1's return to the country. Sasol: As a major integrated energy and chemical company, Sasol could leverage F1's technological aspects. MTN Group: This multinational mobile telecommunications company could benefit from F1's global reach. Naspers: As a global internet and entertainment group, Naspers could explore digital and media partnerships with F1. Standard Bank: One of Africa's largest banking groups could find opportunities in F1's financial ecosystem. Woolworths Holdings: This retail chain could explore merchandise and hospitality opportunities around the event. The return of F1 to Africa represents a huge opportunity for the sport to expand its global footprint while providing African nations with a platform for economic growth, cultural exchange, and increased international visibility. As discussions continue between F1 officials and potential host countries, the excitement for a truly global F1 calendar grows. #F1ReturnsToAfrica #Formula1Africa #SportSponsorship

Lillehammer Olympiapark and MEI Sign 12-Month Agreement We are delighted to have agreed a 12-month partnership with Lillehammer Olympiaparken AS to support them in engaging with International Federations and Rights Holder Community in attracting them to make full use of this world-class set of venues for both sports and international congresses. Trading as Olympiaparken, it was set up following the 1994 Winter Olympics and operates five sports venues: Birkebeineren Ski Stadium, Håkons Hall, Lillehammer Olympic Bobsleigh and Luge Track, Lillehammer Snow Park and the ski jumping hill of Lysgårdsbakken ski jumping area.   Under this agreement, Lillehammer will feature as Gold Sponsor of the Hosts & Federations Summit in Lausanne, Switzerland June 16-18 showcasing their expertise as well as these exquisite venues. MEI very much looks forward to promoting and introducing Olympiaparken to a wide variety of International Federations as they seek suitable venues for their most prestigious international sporting events as well as potential training camps and using their conference facilities for Annual Congresses with the National Federations and General Assemblies/Awards Evenings".   URL : www.olimpiaparken.no LinkedIn: https://lnkd.in/eYW9PNqw

🏎️ Setting the Standard: Qatar Grand Prix Leads in Safety and Security 🏁 The Qatar Grand Prix has not only thrilled fans with its spectacular racing but also set a benchmark for safety and security in Formula 1. FIA President’s praise highlights the meticulous planning and execution that made this event one of the safest in the sport’s history. From advanced crowd management strategies to state-of-the-art security technology, the Qatar Grand Prix showcases what’s possible when innovation meets vigilance. It's a powerful reminder of the critical role security plays in creating a seamless and enjoyable experience for fans, teams, and organizers alike. As we celebrate this achievement, it’s an inspiration for all industries to prioritize safety and security as cornerstones of success. Bravo, Qatar! 👏 #Formula1 #EventSecurity #SafetyFirst #QatarGrandPrix #RiskManagement