F1 race in Sepang generated nearly RM950mil in economic impact

The F1 Bahrain Grand Prix, held at the Sepang International Circuit (SIC) from October 2 to 4, generated an economic impact of nearly RM950 million, according to the youth and sports ministry. The event drew approximately 261,000 fans, with about 103,000 attending on race day, and was watched by a global audience of 827 million viewers.

Youth and sports minister Dr Taufiq Johari reported that over 97,000 tickets were sold, and the influx of more than 50,000 international tourists and around 5,000 foreign workers boosted the economy. The presence of overseas spectators also contributed to increased revenue for the tourism, hospitality, aviation sectors, and local SMEs, enhancing Malaysia's reputation as a world-class sports and investment destination.

Dr Taufiq stated that the government is currently conducting a cost-benefit assessment to determine the viability of hosting the event again in the future. The assessment is being carried out by a consulting firm appointed by SIC to evaluate the hosting costs and economic impacts of the race. The findings of this assessment will be a key factor in the government's decision-making process regarding future F1 hosting opportunities in Malaysia.