Singapore’s F1 race boosted tourism and spending in APAC

SINGAPORE: The Singapore Grand Prix not only boosted demand at luxury hotels and restaurants near Marina Bay but also lifted tourism and spending across the Asia-Pacific.

CNBC reported, citing data from marketing platform Sojern, that a quarter of American and Canadian racegoers booked flights to Japan, while nearly one-third of Australians travelled to Indonesia, mostly Bali. Around 18% of Europeans booked trips to Thailand, while others extended their travel to China, South Korea, India, the Maldives and Fiji.

Samer Elhajjar, a senior lecturer at the National University of Singapore (NUS), said travel websites overseas have bundled trips to Singapore’s F1 race with popular island destinations in Southeast Asia, adding that visitors who come for the race often head to Bali for two or three days after.

CNBC Travel also found travel packages combining the Singapore Grand Prix with trips to Langkawi and Borneo in Malaysia, as well as cruises that include stops in Japan, Hong Kong, and Vietnam.

In addition to boosting tourism and spending across the region, the race also drew global leaders and business travellers who attended the Milken Institute Asia Summit from Oct 1 to 3 and will attend the crypto conference Token2049 on Oct 7 to 8, scheduling their trips around the event.

More families also travelled to the city-state this year, up 6.6% from last year, while solo travellers fell 8%, pointing to a rise in leisure visitors.

NUS’s Mr Elhajjar said this means that stays in the city-state will be extended, which is “great” for both Singapore’s economy and the region. /TISG

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