Is F1 worth it?

In Economy, Tourism on 24/09/2011 at 10:16 am
Year Cost (SGD M) Additional TourismRevenue(SGD M) Profit/ Loss(SGD M) Margin over Costs (%)
2008 150 168 18 12
2009 150 93 -57 -38.00%
2010 150 160 10 6.67
Totals 450 421 -29 -19.33

(Click the headline to see full table if you are reading from the Home page.) (Cost and revenue numbers taken from BBC link below.) 

Note: As much as 60% of the S$150m a year is being invested by the Singapore government through the Singapore Tourism Board (STB) in a bid to attract more visitors here,

Any wonder why “intangible rewards” matter. 

But shouldn’t intagible costs be taken into consideration.

  1. Just look around. Who else is going after F1?

  2. I’ll be watching at home. Make no mistake, the money is spent to kick off MBS, RWS as well as Sentosa Cove, you know, marketing Singapore as the Playground of the Rich, ala Monaco of the East (Coincidentally, both are ruled by a Prince). Bets are off for further gov funding if it is not self-sustaining.

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