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Formula 1 Canadian Grand Prix back in Montreal

Click to play video: 'Grand Prix promises to boost Montreal’s economy after 2-year F1 hiatus' Grand Prix promises to boost Montreal’s economy after 2-year F1 hiatus
WATCH: After a two-year hiatus, the largest tourist attraction for a one-week event in Canada is back. The Formula 1 Grand Prix gets underway this weekend at Parc Jean-Drapeau but the activities around the race have already moved into high gear. As Global’s Tim Sargeant reports, it's a much-needed boost for the economy, for tourists and local spectators alike. – Jun 16, 2022

The Formula 1 Canadian Grand prix is making a long-awaited return.

The race is back in Montreal after a two-year absence due to COVID-19.

Fans and business owners are thrilled — the event generates tens of millions of dollars in economic spin-offs for the city.

Read more: Racing on the edge: Hamelin says short track and Formula One have similarities

Most hotels and restaurants are fully booked.

“As of Friday, basically we stopped taking reservations. It’s only walk-ins,” Alex Sanchez, daytime manager of Sir Winston Churchill Pub told Global News.

At Chez Alexandre, a French bistro on Peel Street, this is the biggest weekend of the year.

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“It’s almost half of our profits of the year,” owner Alain Creton said.

The race is considered the unofficial kickoff to Montreal’s summer tourism season and this year should rival that of 2019, which was a record year.

READ MORE: Tourism officials expecting a summer boom in Montreal

“This year we’re looking at seven to eight million tourists, better than expected,” Yves Lalumière, CEO of Tourisme Montréal said.

Saturday’s time trials and the race on Sunday are already completely sold out.

Click to play video: 'Formula 1 champion Lewis Hamilton, several drivers take a knee' Formula 1 champion Lewis Hamilton, several drivers take a knee
Formula 1 champion Lewis Hamilton, several drivers take a knee – Jul 5, 2020

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