Tax revenue totalled €22.6 million (€13.6 million from VAT and €9 million from IPS fuel tax)
The Rally de Portugal 2024 edition generated an economic impact of €183.3 million, an increase of 11.3% compared to the previous year, according to a study by the University of the Algarve (Ualg) on the racing competition, while tax revenue stood at €22.6 million.
“The amount represents a direct economic impact of 24.1% from the event, showing its economic importance for Portugal,” according to a study from the University of the Algarve (Ualg).
In terms of tax revenue (total €22.6 million), €13.6 million came from VAT and €9 million from IPS fuel tax.
The event generated €93.6 million in direct expenditure by fans, teams and organisation in the regions of Portugal, with 36% coming from foreign visitors, of which 25% visited for the first time.
The Rally attracted about 1.2 million viewers/visitors, visitors stayed an average of 2.9 nights in accommodation, which rose to 3.2 nights in the case of foreign tourists, being above the usual amounts in the North (1.9 nights) and Centre (1.8 nights) regions.
Source: Essential Business
