BAKU, Azerbaijan, Feb. 14
Trend:
On 13 February 2020 Baku City Circuit (BCC), promoter of the Formula 1 Azerbaijan Grand Prix held the 2020 Conference on the Benefits of Hosting Major Sports Events.
The Country Managing Partner of PwC Azerbaijan, Movlan Pashayev, was a keynote speaker and presented key findings of the economic impact report of Formula 1 Grand Prix.
"Besides short-term economic impacts, every major event also has intangible impacts associated with the wider socio-economic goals of the host city and country. Such benefits support the longer-term development of the city, country and even the entire region. In that sense, Baku has and will be successful in holding mega sport events. At the end of the day, better health, satisfaction, motivation and education will trickle done in productivity and efficiency for the whole economy and country", mentioned Movlan Pashayev in his speech.
The special one-day conference provided a unique platform for F1's commercial rights holders, broadcast partners, the Azerbaijan & French Grand Prix promoters and businesses and political representatives from across the region to come together to share their own experiences and discuss and analyse the economic and social impact, importance and benefits that staging major sporting & cultural events can have on host cities and nations.