Written reply to PQ on data on Formula One Singapore Grand Prix cess collection, incurred expenses and contribution to GDP

Question:

Mr Chua Kheng Wee Louis: To ask the Deputy Prime Minister and Minister for Trade and Industry for each of the past four editions of the Formula One Singapore Grand Prix, what is the (i) total cess collected under each edition’s respective cess collection order (ii) total expenditure incurred by the Government and (iii) contribution to Singapore’s gross domestic product. 

Written Answer by Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong

1.           For the 2022 to 2025 editions of the F1 Singapore Grand Prix, an average of S$30 million of cess has been collected. The annual cost of organising the race for the same period of time is estimated at S$140m¹. 

2.           Since its inception in 2008 until 2024, the race generated more than S$2.2 billion in incremental tourism receipts. The Government does not assess individual tourism events for their contribution to national GDP. 

¹ Figure for 2025 is being finalised.