“The Formula 1 Grand Prix is ​​important at all levels, economically and promotionally, not only for the region but also for the country, representing added value for the economy,” Álvaro Bila told the Lusa news agency.

For the mayor, “the fact that the Algarve International Circuit will be part of the Formula 1 World Championship calendar for two consecutive years,” in 2027 and 2028, “recognises the quality of the Algarve circuit and rewards the commitment of its promoters in holding major international motorsport events.”

Álvaro Bila predicts that the World Championship races in the municipality “will contribute to further projecting the Algarve as a tourist destination, being a great promoter of the region's potential and the municipality of Portimão in particular.”

The Portuguese Grand Prix will once again be part of the Formula 1 World Championship at the Algarve International Circuit (AIA), following a two-year agreement between the organization of the sport, the Portuguese Government, Turismo de Portugal and the promoter Parkalgar. The agreement between the Portuguese government and the championship promoters was signed in London, but the date of the Grand Prix will only be known in June 2026, when the 2027 World Championship calendar is defined. It is expected to be part of the European 'season' during the spring.

Formula 1 returned to Portugal in 2020, after a 24-year absence from the World Championship, following the reorganisation of calendars due to the COVID-19 pandemic.

On August 14th, Prime Minister Luís Montenegro had revealed, during the PSD's Festa do Pontal in Quarteira, that everything was on track for the return of the Portuguese Grand Prix to the Algarve.