Business Times, Monday, 3rd October 2011
GENERALLY, I believe the Grand Prix serves its purpose of helping to put Singapore on the world map. It is not easy to justify the $150 million cost to host the event, of which the government foots 60 per cent, because this publicity and other positive spill-over effects on tourism are not easily quantifiable. It was reported that $410 million has been generated from the event over the past three years. If so, the public does benefit substantially, at the expense of the government’s subsidy.
Personally, I think we should continue to host this event, but a change of race venue away from the main city centre might be a cheaper alternative while causing much less inconvenience to the general public.
PrimeStaff Management Services Pte Ltd