Formula 1 in Baku — Economic Impact 2026 | Property Center

The Azerbaijan Grand Prix of Formula 1 has been held in Baku since 2016 (initially as the "European Grand Prix" and from 2017 as the "Azerbaijan Grand Prix"), on the Baku City Circuit street track — and in September 2025, the contract was renewed until at least 2030.

Verified Economic Data

Data	Source
~$500 million contribution to Baku's economy in 2022	Economic reports
$277.3 million cumulative economic value 2016-2017	PwC
$506.3 million cumulative profit, first 4 years	Baku City Circuit
~70% of tickets sold to foreigners (2023), 100+ countries	Official sales data

Hotels Fully Booked on Race Weekends

During race weekends, hotels in Baku reach full occupancy — a direct testament to the volume of tourism the event attracts to the city.

The Track Remains in Place — It's Important to Be Accurate

The track is a street circuit that runs through the center of Baku, including a particularly narrow section through the old city of Icherisheher — it does not pass through and is not planned to pass through the Sea Breeze area. The new contract (until 2030) maintains the current location.

Frequently Asked Questions

How much longer will the race be held in Baku?

At least until 2030, according to the contract renewed in September 2025.

Where exactly is the track?

A street circuit in the center of Baku, including a section through the old city — not in the Sea Breeze area.

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Aglarov's Ambitious Plan for F1

Beyond the existing race in Baku, Aglarov explicitly talks (Tatler Asia interview, June 2026) about the ambition to bring a new F1 track to Sea Breeze — in collaboration with Tilke Engineering, the official design company that designs most of the Formula 1 tracks in the world. This is not an empty marketing announcement: it involves a recognized professional entity in the industry.

Fire Island — The Planned Island for the Track

The planned track, which includes 18 turns, is set to be built on "Fire Island" — another artificial island covering 200 hectares, shaped like a flame. It is important to emphasize: this is a declared plan by Aglarov, not an approval or commitment from official F1, which has committed to the current location in Baku until 2030.