Turismo de Portugal and Turismo do Algarve welcomed today the official announcement of the return to Portugal of the Formula 1 Grand Prix, stating that it represents “a renewed vote of international confidence in the country’s organizational capacity”.
The Minister of Economy and Territorial Cohesion, Manuel Castro Almeida, announced this Tuesday, 16th, that the Portuguese Grand Prix will once again be part of the Formula 1 World Championship, for two consecutive years, in 2027 and 2028, at the Autódromo Internacional do Algarve (AIA).
In a statement, Turismo de Portugal and Turismo do Algarve state that “this decision, eagerly awaited, materializes the joint effort of a national ‘task force’ which, over the last few months, included the Government of Portugal, the promoter Parkalgar, Turismo de Portugal and Turismo do Algarve”.
For both entities, Portugal’s confirmation on the world Formula 1 calendar reflects a renewed vote of international confidence in the country’s organizational capacity and the excellence of the AIA.
During the pandemic context, in 2020 and 2021, AIA played a decisive role in ensuring the continuity of the championship, constituting a true success story for Portugal.
During this period, there was a high economic and promotional return associated with the event, with an estimated impact reaching around 100 million euros for each Grand Prix and a reinforcement of the destination as a global stage with 827 million fans around the world and 70 million spectators per race.
In this way, the confirmation of the 2027 and 2028 editions leads Turismo de Portugal and Turismo do Algarve to anticipate a greater economic impact and media return than in 2020 and 2021.
“The return of Formula 1 to Portugal in 2027 and 2028 confirms the country’s growing recognition as a reference destination for world-class events and is fully aligned with the Government’s strategy for the tourism sector and the national economy”, states the Secretary of State for Tourism, Commerce and Services, Pedro Machado, in the statement.
The President of Turismo de Portugal highlights in the same statement that “Formula 1 once again places Portugal at the center of global attention, reinforcing the country’s image as a vibrant, modern destination capable of hosting events on a global scale”.
“The return of Formula 1 to Portimão is excellent news for the Algarve and for Portugal. It confirms the strategic vision that we have defended for the Autódromo Internacional do Algarve and for strengthening the international projection of the destination”, concluded the President of Algarve Tourism, André Gomes, quoted in the same statement.