More nights to remember?

Business Times, Monday, 3rd October 2011

How would you rate the success of the Singapore Grand Prix to date?  If given the option, should Singapore host the event for a further five years; and if so, why?

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.

Ronald Lee
Managing Director
PrimeStaff Management Services Pte Ltd