The Belgium Grand Prix's place on the 2024 F1 calendar has been confirmed, but question marks over its future remain. The future of Spa-Francorchamps has been uncertain since its financial situation was put in the spotlight, while plans to revive the South African Grand Prix in Kyalami also took shape. F1 failed to reach an agreement to host a race in Kyalami , initially reported by RacingNews365.com , which enabled the Belgium GP to stay on the calendar for an extra year. Melchior Wathelet, President of Belgian Grand Prix, said: "I am delighted with the confidence F1 has shown in us. This is the result of the long-term work of many, including of course the teams of Spa Grand Prix and the Circuit de Spa-Francorchamps." The circuit has recently invested €80 million in safety renovations including run-off extensions, improved barriers, and more gravel traps. New grandstands were also installed on the straight between La Source and Eau Rouge.
Belgium race to help local economy
Willy Borsus, Walloon Deputy Prime Minister and Minister of Economy, highlighted a recent report which showed the economic impact of the race. "The economic impact that this type of exceptional event brings to the Walloon Region, and even to the entire country, is undoubtedly a great asset for Wallonia," he said. "A recent report estimates that this large-scale event generates nearly €41.8 million in financial revenue for our Region, after deducting the public contribution. In total, this amounts to the following return: one euro invested generates €9.67 in added value in Belgium, of which €7.33 for Wallonia." Despite another year of F1 being confirmed, the Belgian Grand Prix's long-term future remains in doubt with no contract in place for 2025 onwards.
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