Grand Prix boosts Singapore tourism

Singapore's Formula One night race is expected to attract about 40,000 visitors to the city state over this weekend.

Amadeus, a leading travel technology partner and transaction processor for the global tourism industry, in conjunction with Forward Data SL, a market research and consulting company, have unveiled the impact of the Singapore F1 on inbound travel to the Asian city state.

Based on global air reservations, Australia is the recurrent principal source country overall for inbound visitors to Singapore during the F1 with 23% of bookings, followed by the UK (12%) and USA (8%).

Amadeus Asia Pacific President David Brett explains "our analysis highlights the significant opportunity for travel providers and businesses in Singapore over the F1 period, particularly between 20th and 23rd September, when hotels are likely to see a surge in bookings.

"Understanding traveller behaviour is essential to scale their services accordingly to meet shifts in travel patterns impacting the local region. The Singapore F1 continues to grow in popularity both regionally and globally, and through hosting this level of top-tier sports content, Singapore can reaffirm itself as a key player on the global sporting stage and continue to be a hub for compelling content benefiting both the local community and international fans to enjoy."

The floodlit Grand Prix, which snakes through a spectacular city-scape in the southeast Asian financial hub, has rapidly established itself as a favourite on the Formula One circuit.

Looking to build its status as a sport and events destination, the Government of Singapore forecasts that arrivals will rise to 17 million and tourism spending to $30 billion by 2015.

The Formula One race, now in its fifth year, has drawn companies such as Singapore Telecommunications Ltd. and UBS AG, who have flown in clients and partners for networking events around the race. Entertainment is a key component, and Formula One tickets this year offer access to concerts by performers including Maroon 5, Katy Perry and Jay Chou.

Wai Ho Leong, a senior regional economist at Barclays Plc in Singapore told local media "there are a lot of events hosted around F1 that are pinned to the uniqueness of F1 as a night race.

"The race is important, but even more important are the deals that go around it, that are made here."

However, uncertainty surrounds the future of the Grand Prix which, on a provisional Formula One calendar for 2013, is one of four races marked "subject to confirmation", along with New Jersey, Germany and South Korea.

The Singapore Government is eager to reduce costs and, along with South Korea and Australia, is seeking to reduce the race fees they pay to Formula One's Administration.

For more information go to www.singaporegp.sg/

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