The Cost of Attending Las Vegas GP 2024: Accommodation 76% cheaper than 2023!

As the Las Vegas Grand Prix races onto the 2024 calendar, it's quickly steering into one of the priciest spectacles for motorsport enthusiasts. With an adrenaline-pumping mix of scorching speeds and the dazzling backdrop of the Las Vegas Strip, the event isn’t just an exhilarating experience but also a significant investment.

Vegas, of course known for its casinos, has been hosting this GP since 2023, and has a ten year contract to do so.

Key Takeaways:

🚗 Fans can be expected to spend up to $2,693.14 on average to attend the GP in Las Vegas this year
🚗 Booking an AirBnB for the GP over a hotel could save punters $839
🚗Accommodation prices this year are 76% lower than prices in 2023
🚗AirBnB prices this year are 114% cheaper than 2023

The Price of Admission

Getting into the thick of the action isn't for the faint of wallet. A ticket for the Main Grandstand will set fans back a steep $1,500. On top of the coveted race experience, attendees need to navigate the city's accommodation costs, which average $953.14 for hotels and Airbnb combined. Meals for the race weekend, consisting of three inexpensive meals a day, total $240.

We did the math, and the overall cost for an unforgettable jaunt through the world of Formula 1 magic totals $2,693.14.

Here’s a quick look at the present costs:

Comparative Yearly Analysis

Taking a retrospective glance at accommodation trends reveals a surprising shift in expenses between 2023 and 2024. For the 2024 Las Vegas Grand Prix, scheduled for November 21-24, accommodations present a more economical outlook.

Booking prices in 2024 are substantially lower, with three nights costing $1,372.82—52% less than the 2023 price of $2,314, despite the latter covering only two nights.

Similarly, Airbnb costs in 2024 are just $533.47, a massive 114% reduction from 2023’s $1,946 price.

Average hotel costs, combining both Airbnb and Booking platforms, were altogether 76% more expensive in 2023 compared to the upcoming year. This significant decrease suggests a more budget-friendly opportunity for attendees planning the full Grand Prix experience in 2024.

Here's how accommodation expenses now stack up:

For motorsport fans eager to head to Nevada to witness the high-speed thrills of the Las Vegas GP, understanding these financial logistics can mean the difference between the finish line and the pit stop. Before revving up for the 2024 event, savvy planning is essential to manage this high-stakes race week in true Las Vegas style.

Verstappen is currently favorite to win the GP in the F1 betting odds.

You can find the full dataset here.

Methodology

We analyze key cost components such as accommodation, food, and ticket prices, comparing them with nearby dates to assess how prices change during the event.

Data Collection:

Accommodation Costs:
Platforms: Airbnb and Booking.com
Dates: Nov 21-24, 2024 (race weekend), and the same dates for the weeks before and after.

Objective: Identify price surges due to the event.

Food Expenses
Source: Numbeo
Calculation: Cost of 3 inexpensive meals per day for the entire stay.

Ticket Prices
Source: F1Destinations
Types:
Main Grandstand Price
General Admission

Data Analysis

Cost Calculation:
Combine accommodation, food, and ticket prices to calculate the total expense for the event. Break down the costs by category (accommodation, food, tickets).

Comparison:
Compare the Grand Prix weekend costs with the surrounding weeks to detect price inflation. Benchmark the 2024 prices against the 2023 Las Vegas GP to identify changes.

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