Corporate motorsports hospitality growth potential in India
Both F1 and MotoGP started in Europe, but they are now truly global, and there is a truly global fan base. Originally with a European fan base, this has expanded to the Americas and then Asia, Australasia. Fans from Europe come to Singapore and India, and Asian fans go overseas to popular races. Valencia and Barcelona are popular destinations for MotoGP, for example.
F1 in 2023 is held in 22 circuits globally, starting with Bahrain and concluding in Abu Dhabi. MotoGP in 2023 is held in 20 circuits globally, starting with Algarve (Portugal) and concluding in Valencia (Spain).
I caught up with my friend from Barcelona Ms Griselda Foguet Plaza who is Hospitality & Experiences Director of Dorna Sports which runs the MotoGP business globally.
“It was the first time that we did MotoGP in India. I felt there is a huge and much bigger potential for MotoGP in India. We are of course coming back next year, which will be bigger and better” said Griselda san.
MotoGP just held its India debut race just in October 2023. MotoGP India had over 110,000 spectators join in its inaugural year.
Corporate motorsports hospitality entertainment is big. Top B to B customers are invited to motorsports events. Entertaining top customers at the F1 is really big. The Paddock Club for VIP entertainment in Singapore costs a whopping 11,000 USD or more for a 3 day pass. Free flowing champagne, food by Michelin star chefs, and more.
For MotoGP India it can start from 2,000 Euros for a 2 day pass, but prices are likely set to increase next year.
VIP corporate motorsports entertainment at hospitality suites are more and more popular - that wine and dine at the highest levels to ensure better business relationships and deals.
For those who are not at the hospitality suites, in other words the majority of spectators, food and drinks can be on the pricey side at the food stalls, but given the fantastic atmosphere of enjoying food and drink at motorsports events, customers are happy to pay that bit extra.
F1 may come back to India, and MotoGP will only grow in India, it will be exciting to see motorsports grow in India, and VIP corporate hospitality too.
Harry Hakuei Kosato is Member of The International Federation of Journalists, Japanese Cuisine Goodwill Ambassador, Founder of Sushi and More India, and Kikkoman’s India representative
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Formula 1 MotoGP™ International Federation of Journalists Sushi and More - India Kikkoman India
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