Grand Prix A Moneymaker For The City
Posted July 6, 2007 12:00 pm.
This article is more than 5 years old.
Racing fever grips Toronto this weekend as the Grand Prix speeds into town, and when it leaves the winner won’t just be the first to cross the finish, it’ll also be the city of Toronto.
Charlie Johnstone, the Toronto Grand Prix Association’s President and CEO, explained that the event generates huge bucks for the metropolis. “This week alone we’ll generate an economic impact in excess of $50 million. (People) coming down to Toronto, shopping at the Eaton Centre, doing all kinds of things and then going to the Grand Prix,” he said.
“Twenty to twenty five per cent of the attendance will come from either out of province, out of country, from Europe. This is one of the best Champ Car events in the world. It’s broadcast in 195 countries around the world.”
With so many people coming from far away, that means lots of money going right into the city. Andres Nicolini is a tourist from Chile.
“We had spent a whole week in Toronto and happened to have the grand prix in Toronto so we’re gonna stay a bit longer,” said the Chilean.
Tourists and people just here to watch the races aren’t the only ones spending money, team Australia member Nigel Bloom says he’s spending his wedding anniversary here.
“I’m only gonna be here for 5 days, but I’d say $3-400 dollars I suppose,” says Bloom. “So I brought my wife up here, because its my wedding anniversary … So then $5 thousand dollars. Well, if she finds some jewellery probably more.”
The party officially started with Thursday’s black tie kickoff at the Four Seasons. The dinner included a silent auction for the Grand Prix Charitable Foundation, which has so far raised more than $5.5 million for local children’s charities.
Racing fans were pumped about the weekend’s events.
“The beer, the girls, the cars, everything,” enthused Juan Esquivo, visiting from Venezuela. “You know, the speed, it’s great.”
Denny Frampton agreed, “Checking out the cars, just to see what’s there and you know buying a shirt here and there, you know, seeing what goes on. It’s pretty awesome to see.”
Champ Car Atlantic Series racer Robert Wickens said he was trying not to put pressure on himself to win his hometown race.
“I’ve been watching the Grand Prix since I was eight years old,” he said. “Only took 10 years for me to be driving in it. I think it will be exciting. I’m going to try to stay focused and almost forget it’s my hometown race. A lot of people get caught up in the moment and get caught up in the media with everything that is going on.”
There are six races in total this weekend, and 10 countries are represented.
