![](https://i.imgur.com/CLvY2jA.png")
13-07-2023, 10:34 PM
https://dollarsandsense.sg/cost-singapore-host-f1
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.
As Singapore inks a new deal to host the event for the next 7 years, the cost is estimated to be between $135 million to $140 million. While hefty, this amount is likely to be outweighed by what Singapore may reap from hosting the races.
Given the overall beneficial nature of hosting the F1, Singapore has signed a fourth contract renewal to host the Formula 1 Grand Prix for another 7 years. This is the longest extension for the race and will mean that Singaporeans will be able to enjoy the annual F1 race on the streets of Marina Bay until 2028.
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.
As Singapore inks a new deal to host the event for the next 7 years, the cost is estimated to be between $135 million to $140 million. While hefty, this amount is likely to be outweighed by what Singapore may reap from hosting the races.
Given the overall beneficial nature of hosting the F1, Singapore has signed a fourth contract renewal to host the Formula 1 Grand Prix for another 7 years. This is the longest extension for the race and will mean that Singaporeans will be able to enjoy the annual F1 race on the streets of Marina Bay until 2028.
