[Manthink]

"...The Government Spent About $90 million A Year On Average To Host The Event ..."

The average cost to host the F1 event a year is an estimated $150 million, with the Singapore government co-funding 60% of the total cost and the other 40% being carried by private entities, such as hoteliers, Singapore Airlines and others. This helps keep the total cost outlay of the event lower for the taxpayers, while still allowing the private entities who directly benefit from the event (e.g., hoteliers, F&B operators) to earn from the event.

According to Statista, F1 viewership in 2008 was 600 million and there was a significant drop to 352.3 million in 2016. Countries like Malaysia and Australia even reported making losses, with Malaysia eventually pulling out of hosting the F1 in 2017


https://dollarsandsense.sg/cost-singapore-host-f1/

[Manthink]

Will there be a clause in current 6-years Contract with F1 in the event corruption is found to be involved in the dealing ?

https://www.todayonline.com/singapore/sp...nd-1800811

[K88 shu shu]

win win situation for both business and govt.

business - F & B, hotel, taxi etc etc.

govt - tourists arrival plus show the world SGP nice night scene with MBS as backdrop and the flyover with vehicular movement.

[Alice Alicia]

No wonder they can sign a 7 year contract instead of 3.

[Manthink]

No wonder they can sign a 7 year contract instead of 3.

(Ex) Minister S Iswaran and F1 chairman Chase Carey shake hands at a press conference on Sep 15, 2017 ahead of the Formula One Singapore Grand Prix race

[wendychan]

they wont.
even if event doesnt make money, its BRAGGING rigts..


also boils down to LOOKING GOOD ON OUTSIDE

another word is HYPOCRISCY..

[Truebluesg]

(Ex) Minister S Iswaran and F1 chairman Chase Carey shake hands at a press conference on Sep 15, 2017 ahead of the Formula One Singapore Grand Prix race

wow! you can see the the sly look in Iswalan 's eyes. True look befitting a corrupt official.
And I always thought he was one of the "better" ones compared to  ridout shameless dogs.
the human trafficking gig is serious tho . can easily bring down the whole party

[Truebluesg]

I think they SHOULD cancel the F1 especially since it is found that PUBLIC MONIES were MISUSED in the event

[Dan]

The Ministry of Trade and Industry and Singapore Tourism Board fund the remaining 60 per cent.

Mr Gan Kim Yong was appointed Minister for Trade and Industry on 15 May 2021.

[ysh02]

I only watch in the TV ; just hear the engine sounds and don't know how who win the race leh...