What are the economic benefits for Singapore and the region for hosting F1 in Singapore?

Question

how can formula 1 race create economic benefits for the Singapore and region?

Answer 1

Best Answer - Chosen by Voters

first through income generated by F1, many people come to see it, they live in hotels, buy food, use traffic and a lot of other services (and pay money for it). Local gov also mobilizes and getting experience thus becoming more effective in future, they improve infrastructure, build new roads. More jobs are created, taxes payed etc. Of course there are some negative issues too, but I'm sure that NET effect for economy is positive. Internationally Singapore becomes better known for public and becomes more open and available for tourism and business.

Answer 2

Put it in lay man's term.

WIth more people coming into singapore, it creates more job as the hotel industry will boom, the tourist industry need more people etc. This will thus increase the economic benefits.

As for the region, Singapore will need to improt more resources. Things like more rice for the people, import more electronic goods for tourist shopping etc.