Measures to Ensure Businesses Benefit from F1 Night Race and Related Events
- The Ministry of Trade and Industry highlighted that the F1 Singapore Grand Prix has generated significant economic benefits, including about $150 million in incremental tourism receipts per race, with roughly one-third of that amount going directly to retail and F&B sectors, which are largely SMEs.
- To address short-term disruptions to businesses in the Marina Bay area during the race, government agencies have reduced the duration of road closures and are working with the race promoter to improve access, including via extended MRT operating hours and coordinated vehicle access for key personnel.
- The government agencies and the race promoter are collaborating with local businesses to leverage the high visitor volume during the event and are open to further suggestions to help businesses, particularly SMEs, benefit more from the F1 race and related activities.