By Trend

The Formula 1 Azerbaijan Grand Prix competitions, which were held in Baku in 2016-2019, brought the country $506.3 million worth of revenues, Nigar Arpadarai, head of Marketing and Communications Department of Baku City Circuit Operations Company (BCC), said at a press conference in Baku on the results of Formula 1 races, Trend reports.

Arpadarai noted that this figure goes for both direct and indirect revenues, which consist of expenses of Baku guests who came to watch the races.