Mr Liang Eng Hwa: To ask the Minister for Trade and Industry what are the economic and other benefits of hosting the F1 Singapore Grand Prix and whether there are continuing benefits for Singapore to host the race beyond 2021.
Written Answer by Minister for Trade and Industry Mr Chan Chun Sing
- Between 2008 and 2018, more than 490,000 international visitors have attended the Formula One Singapore Grand Prix, contributing more than S$1.4 billion in tourism receipts and benefitting local businesses. The event has also been broadcast to a global audience of more than 840 million viewers.
- We will assess the costs versus the benefits of our options, to decide whether to continue having F1 in Singapore beyond 2021.