Trade Shows and EventsThe Lion City gets turbocharged from F1's return and high visitor arrivals.

It's full throttle ahead for Singapore tourism

Ticket sales for the Singapore Grand Prix F1 2022 has surpassed that of the 2019 race.
Ticket sales for the Singapore Grand Prix F1 2022 has surpassed that of the 2019 race.

The much-anticipated Singapore Airlines Singapore Grand Prix F1 race is back in town after a three-year hiatus, bringing a slew of race-themed experiences, high-profile MICE events as well as high spenders over the Grand Prix weekend (30 September to 2 October). 

The return of this iconic event is also a strong signal of Singapore's return as a host of world-class events, after the city reopened its borders in April 2022 and progressively eased many Covid-19 restrictions over the past couple of months.

Despite being confirmed only in January this year, this year's event enjoyed its biggest spectator turnout of 302,000 attendees since the first night race in 2008, with ticket sales surpassing that of the 2019 race, which drew a three-day total of 268,000 spectators. 

Rooms at hotels near the street circuit area such as The Ritz-Carlton, Millenia Singapore and Mandarin Oriental, Singapore were booked out for the race or reported high occupancy rates.

Restaurants, bars and entertainment venues, especially those with a view of the track, reported roaring business during the F1 week. 

Lots of high spenders were also in town among the tens of thousands of fans during the three-day Grand Prix. 

Among them was American entrepreneur Rembrandt Flores, the founder of a Los Angeles-based Web3 consultancy, who was in Singapore for the Asia Crypto Week. The two-day crypto conference, called Token2049, coincided with Grand Prix and had its closing party at the Marina Bay Sands Rooftop and the F1 Singapore Grand Prix.

Following his event, Flores would embark on his own week-long trip in Singapore, splurging on top-end experiences such as watching the F1 race from the exclusive Paddock Club, Michelin meals and private yacht trip around Sentosa. 

Corporate entities, similarly, are entertaining clients at hotel suites, aboard yacht charters and the likes.

The only night race on F1's calendar, the Singapore Grand Prix has generating over S$1.5 billion (US$1 billion) in incremental tourism receipts for the country and attracted over 550,000 unique international visitors since its debut.

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