The 2024 Formula One Etihad Airways Abu Dhabi Grand Prix drew record crowds and generated Dh1.25 billion in visitor spending, organisers Ethara announced on Wednesday.
The race, which serves as the annual F1 season finale, has grown in popularity and strength since its first staging in 2009.
That was evident in the numbers, which showed a sharp increase in visitors in 2024 – and with it, a financial boost for Abu Dhabi's leisure and tourism sector.
Attendances grew across all four days of last December's event, resulting in an overall jump from 170,000 to 192,000 – an increase of 12.9 per cent.
Ethara says 70 per cent of those spectators came from abroad, and that racegoers parted with Dh1.25 billion over the four days, a 6.8 per cent increase in visitor spending from the previous year.
The 2025 event, set to be held at Yas Marina Circuit from December 4-7, is expected to be even bigger still, with Ethara confirming “the majority of tickets” have already been sold.
“The Abu Dhabi Grand Prix continues to raise the bar, generating Dh1.25 billion across four unforgettable days,” said Saif Al Noaimi, chief executive of Ethara.
“This figure demonstrates how we’ve evolved the event into an entertainment and tourism destination that transcends sport.
“With an unprecedented level of advance sales for the 2025 race, fans are telling us they trust in the Abu Dhabi Grand Prix experience and everything that it brings both on and off the track. That excitement drives us to keep pushing boundaries and deliver extraordinary moments for fans and visitors every year.”
The event’s signature Yasalam after-race concerts also experienced record crowds, with 110,000 attending four nights of shows at Etihad Park.
The race itself drew a huge broadcast audience, with 62 million watching last year’s championship finale on TV and streaming platforms.
That was further enhanced by F1 teams, drivers and celebrities sharing their experience on social media, giving the event an online reach of 4.6 billion, according to Ethara.
Organisers also revealed that in 2024, 85 per cent of international visitors arrived by air. More than half were visiting Abu Dhabi for the first time, and many turned their stays into full holidays.
Alongside the racing, fans filled Yas Island’s theme parks and visited cultural landmarks like Louvre Abu Dhabi and Qasr Al Watan. Over 30,000 visits were recorded across these sights during the 2024 race weekend, with a Grand Prix ticket granting complimentary access.
In 2025, ticket benefits have been extended and now include teamLab Phenomena on Saadiyat Island.
Besides tourism, the event contributes to the local economy by generating jobs. Notably, 88 per cent of staff on-site at Yas Marina Circuit last year were UAE-based.
The Formula One season resumes in Singapore this weekend. McLaren's Oscar Piastri leads the drivers' championship from teammate Lando Norris, with Red Bull's Max Verstappen gaining momentum after wins in Azerbaijan and Italy.
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Investment raised: $4 million
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Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
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Monster
Directed by: Anthony Mandler
Starring: Kelvin Harrison Jr., John David Washington
3/5
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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Syria 1-1 Australia
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Australia Kruse 40'
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SERIE A FIXTURES
Saturday (All UAE kick-off times)
Lecce v SPAL (6pm)
Bologna v Genoa (9pm)
Atlanta v Roma (11.45pm)
Sunday
Udinese v Hellas Verona (3.30pm)
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Cagliari v Napoli (9pm)
Lazio v Inter Milan (11.45pm)
Monday
AC Milan v Torino (11.45pm)
