(Yicai) March 11 -- The Formula One Chinese Grand Prix, set to take place in Shanghai this weekend, is expected to break the attendance record for the event. It will also drive tourism and consumption in the surrounding areas, according to the organizer.

Running from March 13 to 15, the event is tipped to attract 230,000 spectators, up from 220,000 last year, and 14 percent are likely to be international visitors, a 3 percentage point increase on 2025, Zhang Weiyao, deputy general manager of race organizer Shanghai Juss Sport Development Group, told Yicai.

This year, F1 has undergone the biggest rule changes in recent years, including adjustments to vehicle size and weight, and with electricity now accounting for half of engine power. These changes are expected to bring more uncertainty to the races, Zhang pointed out.

This year also marks the first expansion in the number of F1 teams in recent years, with US-based Cadillac becoming the 11th. The company has hired Chinese prospect Zhou Guanyu as a reserve driver, increasing local interest in the event, Zhang noted.

Hotels within 10 to 15 kilometers of the Shanghai International Circuit, where the race will be held, have seen reservations surge 10-fold compared with the previous weekend, while flight bookings during the race period have seen double-digit growth year on year, according to data from online travel agency Trip.Com.

Nearly 90 percent of Trip.Com travelers said they are not just going for the race, and intend to try some cultural experiences as well, the company noted.

The circuit is in Jiading district, which will hold a 54-day Automotive Culture Festival starting from March 13. The event will offer discounts on nearby attractions, hotels and restaurants, as well as more than 100 auto culture experience activities. Visitors will gain a deeper understanding of the F1 event and the city's culture, Jin Fen, deputy director of Jiading's culture and tourism bureau, told Yicai.

Last year, the F1 Chinese Grand Prix generated a direct economic benefit of CNY2.5 billion (USD363.8 million) and an indirect economic benefit of CNY6.9 billion. Both figures represented a 75 percent increase compared with the previous year, according to data from the Shanghai Administration of Sports.

Editor: Tom Litting