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.