The inaugural Formula One Las Vegas Grand Prix is projected to have an overall economic impact to the tune of almost $1.3 billion.

The figure for the race taking place Nov. 16-18 comes from an economic impact report conducted by Applied Analysis and announced by Las Vegas Grand Prix CEO Renee Wilm on Monday during Preview Las Vegas at the Las Vegas Convention Center.

It includes $966 million in projected F1 visitor spending and $316 million in event operations and support costs. Wilm noted that the race is expected to see around 100,000 attendees daily for practice and qualifying rounds and for the grand prix race itself.