F1 return: Hotels 'delighted', experts welcome Singapore's 'readiness' to move forward post-pandemic

SINGAPORE: The renewed contract for Singapore to host the Formula 1 Grand Prix for another seven years will be a driving force for major changes in a post-pandemic landscape, from a tourism boost to jobs creation, said industry experts.

The night race will return to the streets of Marina Bay in September after an absence of two years due to the COVID-19 pandemic, the Singapore Tourism Board announced on Jan 27. 

The Singapore Grand Prix was cancelled in 2020 and 2021 after it was scheduled as part of the F1 race calendar. 

The event is "catalytic" as attention from the rest of the world will directly benefit the whole tourism industry, said Dr Kevin Cheong, chairman of the Association of Singapore Attractions (ASA). 

"(With) the number of eyeballs globally glued to the F1 race, Singapore's seven-year contract locks both Singapore and the Grand Prix as the premier must-see, must-experience and must-visit race in Southeast Asia." 

Dr Cheong added that the timing of the F1 race in September is "very strategic".

"F1 will kickstart the year-end holiday season, with the Indian travel season in October/November, then winter holidays in December, and finally the Lunar New Year holidays in January/February," he said. 

With the F1 Grand Prix targeting the "high-yield, luxury traveller" and the corporate entertainment customer, the renewed contract puts Singapore's destination positioning at the "highest possible target market", added Dr Cheong. 

"Indirectly, the corporate entertainment visitors are important F1 visitors. They are likely to be high net-worth individuals and corporate head honchos from the region. They are a very important market for Singapore – as visitors, investors and business stakeholders." 

As a result, Dr Cheong