F1 Holidays and Tourism

This is perhaps the reason why Singapore went all out back then and tried to do everything to save their ailing tourism industry, Being a landlocked country with no beaches to boast is quite hard for the tourism industry, this is why they decided to open the Singapore Grand Prix.

The said event was only resurrected in 2008 after almost 30 years of being at rest. Formerly referred to as the Formula Libre event during the 1960s, it was during the Singapore's independence in 1965 that race held at the Thomson Road circuit was renamed as the Singapore Grand Prix. This phenomenon thrived for many years, attracting thousands of fans from different parts of the globe.

Singapore Grand Prix cease its operations in 1974because of collaborative issues that bombarded the management responsible for the race. There are also fatal accidents that occurred in the 1972 and 1973 races that raised concerns from many citizens. It also gives the people to address their grievances regarding the inconvenience caused by closing main roads, rerouting transportation and heavy traffic jams for the duration of the race.

It was in 2007 when the five-year deal signed by Singapore GP Pte Ltd, the Singapore Tourism Board and Bernie Ecclestone marked the Singapore Grand Prix's return to the limelight. Initially, the race was co-funded by the Government of Singapore where they investing S$90million out of the S$150 million total cost. Singapore Grand Prix, Formula One's first night race, was held in the Marina Bay area, the race cars take the circuit route in Singapore's downtown area.

First announced in July 2007, The comeback of the Singapore Grand Prix brought in thousands of fans and tourists for the event. As early as November 2007, hotel packages and hospitality suites were opened for booking and immediately got full reservations. Experts believe that the return of the race would provide a big boost for tourism in Singapore. They also added that this Race was one of the best things that could happen for the country.

F1 holidays are quite helpful in boosting ones economy and giving it its much needed break since the global financial crisis kicks in.

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