The Hungarian Grand Prix has been one of the annual destinations for the Formula 1 championship since 1986. It takes place at the Hungaroring racing track in Mogyorod, which is close to Budapest. Hungaroring’s current race-track of 4.3 kilometers was created following redesign work in 2003 and due to its narrow stretches and sharp curves which make overtaking difficult it is often compared to the race track in Monaco. Formula one fans from all over the world descend on Budapest each year for this festival of motor racing.