F1 return puts RM1.3bil Malaysian economic prize in sight
FORMULA 1’s return to Sepang is more than a revival of high-octane racing - it could unleash up to RM1.3 billion in economic activity across Malaysia.
The return of Formula 1 to Sepang could inject up to RM1.3 billion in economic activity across Malaysia, according to industry observers. This one-off race, scheduled for October 2-4, will revitalize tourism and business opportunities in the region, said analysts. Hong Leong Investment Bank estimates the event could generate RM1.1 billion to RM1.3 billion in total economic output, driven mainly by visitor spending on tourism-related services.
The Malaysian government will bear minimal costs, with the cancellation of Bahrain's F1 hosting fees and a nominal RM16 million for track repairs. Former SIC CEO Datuk Razlan Razali highlighted the extensive economic spillover benefits from F1 events, including hotel occupancy, tourism, food and beverage, logistics, and media exposure that can put Malaysia on the global map for weeks, not just race day.
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