After much speculation about its future, it has been confirmed the Singapore Formula 1 Grand Prix will continue for another four more years from 2018 to 2021. Singapore has been part of the Formula 1 World Championship since 2008, and is the first country to ever host a night Grand Prix.
The announcement comes against the background of a year-to-date 19% increase in ticket sales, with the weekend sales still to be included. According to Singapore GP and the Singapore Tourism Board, the race has yielded significant economic benefits, attracting over 450,000 international visitors to Singapore.
This has helped generate about SG$1.4 billion (about RM4.3 billion) in tourism receipts, and it is also revealed 90% of the race organisation is sub-contracted annually to Singapore-based companies, which allows the race to contribute to the local economy.
Over the years, the Singapore Grand Prix served up some dramatic moments on track (this year was no exception), and has been backed by a strong line-up of concerts, entertainment and lifestyle offerings both within the circuit park and throughout the city.
“The Singapore Grand Prix is a signature Formula 1 race and therefore we are very pleased that it will continue to feature on the calendar for a further four years. The first ever night race in this sport is one of the most thrilling events of the year, taking place against the stunning backdrop of Marina Bay,” said Chase Carey, chairman and CEO of Formula 1.
“Since 2008 we have enjoyed a close working relationship with Formula 1 and all of its key players. We believe this has been a beneficial partnership for all parties, for our city and for the sport, and we look forward to building on that foundation with F1’s new owners,” noted Ong Beng Seng from Singapore GP.
“The race in Singapore has provided an excellent platform for businesses to test bed new lifestyle initiatives and products. This has not only created an exciting atmosphere during the race season, but also injected creative concepts and experiences that continue to attract tourists to Singapore all year round,” added Lionel Yeo, chief executive of Singapore Tourism Board.
With Malaysia confirming it will no longer host F1 races from 2018, Singapore is set to be the only country in Southeast Asia to be part of the F1 calendar next year. However, there have been rumours F1 chiefs are looking at Vietnam as a possible replacement for Malaysia in the future.
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Low RM bring in more tourism & export benefits than F1..
Because according to Bernie, Singapore is nothing other than airport. That’s why must keep F1 yo
Singapore GP is the best GP in the F1 calendar, even beating Monaco.
Sepang bestest in the world!
Imagine if Sepang had backtracked like SG and said they will continue. The bashings wud be >9000!
KLCC F1 track soliddd
meanwhile in malaysia the line-up for concert is m.nasir, aiman tino and maybe again kpop artist…hahahaha
hahahaha…watching local tv news more exciting lolz
It’s a sad situation for Malaysia. We had an advantage of at least 10 years over Singapore as the only host outside Japan in Asia to host the Malaysia F1 GP. what did we do with the opportunity? Over close 20 years nothing substantial came out from this. No real estate development or integrated development to take on the spills from what F1 offers.
Other nations are going forward with strong future and we are looking to be regressing and known as a has been.
We need to wake up from this and really leverage from our mistake. we can be like UK where its center of automotive engineering supporting the European motorsport.Plus others strengths e.g. food, tourism sites nearby, excellent nfrastructure etc.
Its simple really…the singapore gp is in the middle of the town while sepang’s is in …well sepang…far from everything…
Sepang most convenient. near klia, outlet & putrajaya.
Formula 1 Grand Prix is rich country game. We still enjoy our home sandiwara..
Zoom zoom racing till night……Now, I have excuse to go Singapore since Sepang not hosting F1 edi
congrats singapore.. attention to detail that is.. night racing, cool shaded trees along all walking path..like in orchard rd these are some of things msian take for granted. nobody likes spending thousands on ticket just that you can come to work on monday with sun burns after a race day
Ekceli some do, esp them gweilos. They luv standing in our sun. Sepang probably just wanna gip them what they want.
Malaysia wants to stop organising F1 races because they can’t make a profit out of it. Meanwhile, SG has earned RM 4.3 billion from it. Doesn’t that sound ironic?
Err no. Revenue may be 4.3B but overall cost to organise is much much higher. SG ekceli made losses each year and deswai they wanted to pull out.
RM4.3b just an estimation for 10years period include hotel, f&b and flight etc. Ticketing isn’t making money at all.
I don’t know if Singapore is a better host but I did think their strong currency would benefit since it would attract tourists and locals since tickets are affordable for them. Malaysia ticket price is a major turnoff for many Malaysians.
But when it comes to actual racing, I would say Sepang had provide more over the years with unpredictable weather and more taxing on cars. The wider track also provide plenty of overtaking. Singapore GP is more boring and more often than not, running like a train show without much overtaking.
Agree, anyway’s we had great years with F1,
nothing shame is backing out if right reasons.
Race tracks venue around the world come & go as well.
When the timing is right, can rejoin again.
I dont really watch F1 anymore anyways…wahahah.
Dan tua… Moving on…