BAKU, Azerbaijan, October 28. During the Formula 1 weekend in Baku, spending by foreign tourists visiting Azerbaijan rose by 72% compared to the average for the previous three weekends.
This is reported in an analytical study conducted by Visa Consulting & Analytics (VCA), a division of Visa.
The report notes that growth was recorded in the hospitality, transportation, restaurant, and retail sectors.
According to the data, spending by tourists from Kazakhstan, Kyrgyzstan, the United Arab Emirates, the United States, and the United Kingdom rose by 104% during the race days compared to the same period the previous week.
An increase in spending on hotels and transportation was recorded
During race week, foreign visitors’ spending on hotels rose by 81% compared to the previous week. Spending on transportation during the race weekend rose by 91% compared to the previous weekend.
Spending on sporting goods also increased. Specifically, spending in this sector rose by 120% when comparing September 24 (the day of practice sessions) to September 25 (the day of qualifying).
Spending at restaurants on race day, September 26, was 29% higher than on the previous Saturday.
62% of tourists stayed in the country longer
According to the analysis, some of the visitors who arrived in Azerbaijan during the race weekend extended their stay in the days following the event. Long-stay visitors accounted for approximately 62% of the total number of participants and stayed in the country for an average of more than 12 days.
Nurlan Hajiyev, CEO and Regional Manager of Visa in Azerbaijan, stated that major sporting events have a broad economic and cultural impact.
“Major sporting events are powerful economic and cultural occasions, and this year’s race week in Baku demonstrates how their impact can extend to the broader economy and beyond the event itself. Our spending data shows that foreign tourists spend money in various sectors during Race Week, including lodging, transportation, dining, and retail, supporting local businesses and contributing to Azerbaijan’s tourism economy,” said Nurlan Hajiyev, CEO and Regional Manager of Visa in Azerbaijan.
What data does the analysis draw upon?
Visa’s analysis is based on aggregated payment transactions by Premium and standard cardholders in Azerbaijan. The study covers spending related to the race in Baku on September 24–26, 2026.
Total international spending is calculated by comparing figures from the race weekend with the averages for three weekends: September 3–5, 10–12, and 17–19. Growth in the five major tourist markets is based on a comparison of figures for the same days, September 24–26, with the previous week.
Hotel spending is compared between September 21–27 and the previous week, while transportation spending is compared between the race weekend and the previous weekend. Restaurant spending is calculated based on data from race day and the previous Saturday.
Visa operates in the digital payments sector and facilitates payment transactions between consumers, businesses, financial institutions, and government agencies in more than 200 countries and regions.
Since 2016, Azerbaijan has hosted one of the most prestigious motorsport tournaments in the world. The first Formula 1 race held in the country was named the European Grand Prix. The winner of that race was German driver Nico Rosberg. In subsequent years, the first to cross the finish line were Daniel Ricciardo (Australia), Lewis Hamilton (United Kingdom), Valtteri Bottas (Finland), Sergio Pérez (Mexico), Max Verstappen (Netherlands), Oscar Piastri (Australia), and Max Verstappen, who outpaced all his rivals and claimed the top spot on the podium. Only in 2020 was the Azerbaijan Grand Prix canceled due to the coronavirus pandemic.
In this year’s milestone 10th race, 20 drivers from 10 teams competed for the win. First place went to British driver George Russell of the Mercedes team. Dutch driver Max Verstappen of Red Bull finished second, while his teammate Isack Hadjar took third place.
The race track is 6 kilometers long. The Baku circuit, one of the longest on the Formula 1 calendar, features 20 turns. The track begins at Azadliq Square, curves around the Government House, then runs around the Icheri Sheher for 2.2 kilometers before reaching the Maiden Tower, after which it exits onto Oil Workers Avenue and ends at the starting point. The track, which is run counterclockwise, was designed by the renowned German architect Hermann Tilke.
