HOMES."THE CITY COUNCIL WILL
MEET TOMORROW NIGHT.
2-ROBERT:IN JUST OVER TWO
WEEKS, THOUSANDS OF PEOPLE
FROM ALL OVER THE WORLD WILL
COME TO AUSTIN FOR THE FORMULA
ONE U-S GRAND PRIX.2-SYDNEY:
BUT THERE ARE CONCERNS ABOUT
THE FUTURE OF THE RACE IN
AUSTIN -- AFTER F-1 STRUCK A
DEAL WITH MIAMI.THE CITY WILL
HOST ITS OWN RACE IN 20-21 AND
THA'S WHEN AUSTI'S
CONTRACT EXPIRES.2-ROBERT:
KXA'S YOOJIN CHO LOOKS AT
HOW IMPORTANT THE RACE IS FOR
OUR LOCAL ECONOMY.
ONCE A YEAR, RACING FANS...
AUSTIN IS ONE OF THE
FAVORITES! ...COME TO CIRCUIT
OF THE AMERICAS FROM NEAR AND
FAR.
W'RE FROM
MEXICO.CAME FROM VIRGINIA
TODAY. ECONOMIST ANGELOS
ANGELOU SAYS LAST YEAR THEY
SPENT 695 MILLION DOLLARS OVER
THREE DAYS.THA'S DOUBLE HOW
MUCH PEOPLE SPEND DURING
AUSTIN CITY LIMITS OR SOUTH BY
SOUTHWEST.
ANGELOS ANGELOU: "THE
DEMOGRAPHIC OF F1 VISITORS TO
AUSTIN IS HIGH INCOME AUSTIN
IS HIGH INCOME DEMOGRAPHIC."
"SO THEY STAY IN THE MOST
EXPENSIVE HOTELS. ENTERTAIN
QUITE HEAVILY."BUT THE NUMBER
OF PEOPLE ATTENDING, ANGELOU
SAYS, HAS DECREASED IN RECENT
YEARS.
ANGELOS ANGELOU: "THERE WAS
ANOTHER F1 RACE ANNOUNCED IN
MEXICO CITY."COTA IS RIGHT NOW
IN THE PROCESS OF RE-
NEGOTIATING WITH F1.ITS
CURRENT CONTRACT WILL EXPIRE
IN TWO YEARS. F1 OFFICIALS
DID'T WANT TO COMMENT ON
STATUS OF THAT TALK, BUT TOLD
US THE'VE ALWAYS WANTED TO
EXPAND IN THE UNITED STATES,
SO THE MIAMI ANNOUNCEMENT
DOES'T AFFECT AUSTIN. THEY
SAY THE U.S. HAS THE 3RD
LARGEST FAN BASE AFTER CHINA
AND BRAZIL. AUSTIN HAS BEEN
THE ONLY US HOME SINCE 2012 --
BUT ANGELOU SAYS THERE COULD
BE ROOM FOR MORE THAN ONE F-1
CITY IN THE COUNTRY.
ANGELOS ANGELOU: "I'LL ALL
DEPEND ON WHAT TIME OF THE
YEAR THE RACE WILL BE HELD, SO
THE'RE NOT VERY CLOSE TO ONE
ANOTHER."YOOJIN CHO KXAN NEWS.
SYDNEY:THIS YEA'S F1 WEEKEND
IS NOVEMBER 1ST THROUGH
NOVEMBER 3RD. WHEN WE CHECKED
ONLINE FOUR SEASONS DOWNTOWN
WAS SOLD OUT FOR THAT WEEKEND.
AND FAIRMONT WAS CHARGING
675-DOLLARS A NIGHT.
ROBERT:FORMULA ONE SAYS ITS
AMERICAN FAN BASE IS
GROWING... THE TV AUDIENCE IS
UP NINE-PERCENT THIS YEAR.
YEARS AGO THEY TRIED TO EXPAND
IN THE
U-S.IN 2011, THE GRAND PRIX OF
AMERICA WAS ANNOUNCED, WITH
THE NEW YORK METRO SKYLINE AS
A BACKDROP.BUT IT WAS CANCELED
BEFORE RUNNING.F-'S BOSS
