SHAH ALAM, Oct 14 — The Formula One Gulf Air Bahrain Grand Prix, held at Sepang International Circuit (SIC) from October 2 to 4, presented an economic impact of nearly RM950 million to the country, said Youth and Sports Minister Mohammed Taufiq Johari.
He added that the cost-benefit analysis is underway between SIC and a consulting firm before the government decides on a direction for future F1 activities, including whether to make it a permanent event.
The Bahrain GP received encouraging response, having drawn 261,000 fans throughout the race weekend, including 103,000 on race day alone.
“Based on information from Formula One Management, this (F1 race) generated an economic impact of nearly RM950 million for the country,” he said in a written reply on the Parliament website.
Taufiq was responding to Rodiyah Sapiee’s (GPS-Batang Sadong) question about the benefit of the F1 race in Sepang, and whether a cost-benefit analysis would be done.
He said the championship improved Malaysia’s international visibility with the race broadcast worldwide, with a viewership of 827 million.
He added that based on latest ticket sales data, more than 97,000 tickets were sold while over 50,000 foreign tourists and around 5,000 foreign workers attended the race, and said international visitor arrivals benefited the tourism, hospitality, aviation and SME sectors.
Taufiq also said Bahrain footed the cost of event organisation rights, which allowed Malaysia to reap economic benefits from the race.
