Kesan limpahan F1 kepada PMKS cecah RM345 juta

Grand Prix Formula 1 Bahrain recently brought an estimated RM345 million boost to Malaysia's micro, small and medium-sized enterprises (PMKS), according to the government. The Malaysian Development Minister, Steven Sim, said the high-profile motorsport event drew 261,000 spectators to Sepang International Circuit, with nearly half of them being foreign tourists.

Sim said the three-day event's economic impact highlighted the crucial role of large-scale international sports events in stimulating economic activity through increased consumer spending, demand for local products and services. According to Sim, spectators who attended the event were found to spend 2.17 times more than at regular events.

He added that foreign tourists typically spend more when taking into account the longer stay duration and expenditures on accommodation, food, beverages, transportation, shopping, and entertainment. Sim also emphasized the importance of fostering relationships between PMKS, larger industry players, event organizers, local tour operators and suppliers to ensure economic benefits can be enjoyed by more small businesses.

In July, Formula 1 confirmed Malaysia as the host for the Gulf Air Bahrain GP from October 2 to 4, following a deal between Formula 1, FIA, and the governments of Malaysia and Bahrain. The deal secures the Bahrain GP's place in the 2026 F1 calendar despite regional geopolitical tensions. The SIC has hosted the Malaysia Grand Prix from 1999 to 2017 before the race was removed from the calendar due to rising production costs and entry fees.