|
SINGAPORE will be revving up to the inaugural F1 race here in September, with a special series of lifestyle events that are set to give a big boost to the local economy.
Minister for Trade and Industry Lim Hng Kiang said the Singapore Grand Prix race is expected to generate additional tourism receipts of about $100 million in 2008 alone, and bring in more tourists.
It is estimated that foreign visitors will make up to 40 per cent of the race spectators.
Replying to a question from Sembawang MP Lim Wee Kiak, Mr Lim said in his written response on Monday that the Singapore F1 race has already started generating opportunities for businesses. Some hotels have already been fully booked for the entire race period duration.
The minister said it is harder to give the exact number of jobs that will be created in the long term, as the race will only be held over three days, he said there will be spillover effects as the service industry is expected to recruit additional workers to cater to demands during the F1 race period.
He also noted that several local companies have also benefited from F1 related contracts, ranging from providing security and catering food to building the pit building, grandstands and road works for the track itself.
Mr Lim also urged local businesses to take advantage of business opportunities during the Grand Prix. He suggested that retail and food and beverage outlets hold special promotions or stay open for longer hours during the race period.
In the run-up to race day, Mr Lim said the Singapore Tourism Board will be organising the Singapore GP Season from Sept 20 to Oct 5.
Taking place over three weekends, F1 fans, tourists and local residents will enjoy events like the Singapore River Festival, the Singapore Biennale art exhibition and Singapore Motorshow at Suntec City, said Mr Lim.
He added that the National Museum will also host the Formula OneTM - The Great Design Race exhibition from London which traces the design development and technology of F1 cars over the years.
| 
