A few days ago I posted about the possibility that the upcoming Las Vegas Grand Prix might not go through. While the event is highly likely to go through, it shows that there are ongoing challenges and issues that the event is working through. For most of us, these are abstract because we don’t live in Las Vegas. Fo r the people who live, work, and visit though; these issues are real.
…and have consequences.
In short, there has been a lot of disruption caused by preparing the famous Strip for the event. Anybody who has visited Las Vegas over the past seventy years can attest that it’s in a state of perpetual construction. However the preparation for the Grand Prix has taken this to a whole new level.
Moreover, the costs associated with the event and who is paying for it are in a state of flux too. Initially, the claim was that no local funding would be used for the event…but that is not true. Also, the price tag for the event keeps increasing. While the event is being touted as having a $1 billion dollar economic impact to the city, that may not be true either.
I’ve heard from locals that the event is already unpopular with locals and with businesses in the area. Jacob Orth provides a great summary from a resident’s perspective in one of his videos. It’s a fascinating look into how the event is impacting Las Vegas along with some additional perspective. Give it a watch.
The key takeaway is that unless the event produces an enormous positive economic impact to the city, it may have a short run (three years?).
