Formula 1 racing set for major comeback in Istanbul by 2026

Minister of Culture and Tourism Mehmet Nuri Ersoy recently announced that the contracting process for hosting Formula 1 races in Istanbul will commence in 2026.

This marks a significant milestone as Istanbul Park prepares to rejoin the prestigious Formula 1 circuit.

"The tender process for the Istanbul F1 Track was completed successfully this April," stated Minister Ersoy.

"Next week, we will oversee the transition from the current to the new tenant, setting the stage for Formula 1 preparations," he added.

The minister said the formal contracting phase to secure the races will start without delay, following the set timeline.

Istanbul Park, celebrated for its challenging circuit and enthusiastic fanbase, has a rich history of hosting Formula 1 events between 2005 and 2011 and in 2020 and 2021.

Its reintroduction to the Formula 1 calendar is expected to attract significant international attention and boost tourism, reinforcing Türkiye's image as a prime location for major sports events.

In parallel, Türkiye’s tourism sector demonstrates robust growth. The Turkish Statistical Institute reports a 5.4% increase in tourism revenue in the first quarter of 2024 compared to the same period last year, reaching $8.78 billion.

The number of visitors also rose by 10.1%.

"Tourism revenue from our expatriate community accounts for 21% of this total," the Institute noted, indicating the significant economic impact of Turkish expatriates.

Increases were noted across various spending categories, including a 2.8% rise in dining, an 11.8% increase in international transportation, and a 19.4% surge in package tour expenditures. These statistics underscore Türkiye's appeal as a destination for leisure and cultural activities as well as shopping and dining.

The return of Formula 1 to Istanbul is expected to significantly enhance the local economy, benefiting multiple sectors, including hospitality and retail.

As preparations for the 2026 races begin, the anticipated economic and cultural impacts will enrich Türkiye’s broader economic landscape.

Source: Newsroom