Economic and Other Benefits of Hosting F1 Singapore Grand Prix Beyond 2021
- Mr Liang Eng Hwa asked about the economic and other benefits of hosting the F1 Singapore Grand Prix and whether these benefits continue beyond 2021.
- Between 2008 and 2018, the event attracted over 490,000 international visitors, generating more than S$1.4 billion in tourism receipts and benefiting local businesses.
- The Grand Prix has been broadcast to a global audience of over 840 million viewers, enhancing Singapore's international visibility.
- The government will evaluate the costs versus benefits to decide on continuing the event beyond 2021.
- The debate focused on assessing both tangible economic impacts and intangible benefits like global exposure for future considerations.