Singapore still hopes on Formula One to uplift its tourism

Published on : Tuesday, February 14, 2017

Formula One to uplift its tourismThe Formula One race still appears quite exciting for Singapore if it matches their terms. As confirmed by the Singapore Tourism Board, discussions are being made to keep the event underway in South East Asian countries. To quote Lionel Yeo, chief executive officer at Singapore Tourism Board while expressing to the Bloomberg Television’s Haslinda Amin Tuesday, ‘’ I think the event is still a good one and I think it’s something we’re interested to look at provided the terms and conditions are right. The discussions are still ongoing.’’

Honcho Bernie Ecclestone, Formula One head said that Singapore Grand Prix would not be extended after the expiration of the 5 year old deal. The race has been a major highlight for Singapore tourism where slower growth rate and arrival of tourists has been a major concern in recent times in the middle of political and economic uncertainties and at the same time competing with neighboring countries.

Singapore Tourism Board expects 2 percent rise in its tourism this year. To quote Yeo, ‘’ we want to temper our expectations because we are fully cognizant of the fact that there are political and economic uncertainties which may have an impact on outbound travel.’’

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