Govt finally realise that F1 is for suckers, will not commit beyond first 5 years

[Confuseous]

Last year, the F1 Night Race pulled in incremental tourism receipts of $160 million. This year the Singapore Tourism Board expects only $100 million.
Formula Money, the book which reviews Formula 1's financials, records this: "In 2008, its first year, the race took in $51 million, but cost $100 million. The (Singapore) government kicked in $60 million, leaving the promoter with a tidy profit."


- http://singaporedesk.blogspot.com/2011/09/f1-takes-your-breath-and-money-away.html

 

[streetsmart73]

hi there


1. did sheep's scholars and elites also calculate the cost of indirect inconvenience?

 

[GOD IS MY DOG]

F1 and casino in S'pore are just ploys by LHL to impress his masters

 

[Fook Seng]

More than half of the 84,000 spectators are foreigners. I wonder where do they stay? The hoteliers are saying to themselves, the money collected together with the F1 taxes are 20 to 30% higher than normal. If only we could keep that money. There are also many people capitalizing on the F1 theme and earning lots of money. One observation of people who follow the F1 around the world is that in all other areas, the race is the key attraction but here the activities that are happening around actually rival the race itself. So is this generating revenue for Singapore? I know as a fact new hotels have been open in the last one year or so. Surely these hotels couldn't be built just to lose money. There is a queue of cities ready to take over if Singapore is willing to get off the circuit. We should be able to recognize the negotiating stance that Singapore is putting on to get a better deal now that the Singapore race is considered the crown jewel of the F1 calendar.