Return of F1 revs up Singapore's MICE sector

The Grand Prix's comeback is turbocharging Singapore's business events sector with a slew of high-profile conferences.

The only night race on F1's calendar, the Singapore Grand Prix also saw many MICE events taking place during the race week.
The only night race on F1's calendar, the Singapore Grand Prix also saw many MICE events taking place during the race week.

The iconic Singapore Airlines Singapore Grand Prix F1 marks a strong signal of the city's return as a host of world-class events, bringing a slew of race-themed experiences, high-profile MICE events as well as high spenders over the Grand Prix weekend (30 September to 2 October).

Despite being confirmed only in January this year, this year's event saw its biggest spectator turnout since the first night race in 2008, with ticket sales surpassing that of the 2019 race, which drew a three-day total of 268,000 spectators.

Rooms at hotels near the street circuit area such as The Ritz-Carlton, Millenia Singapore and Mandarin Oriental, Singapore were booked out for the race or reported high occupancy rates.

Restaurants, bars and entertainment venues, especially those with a view of the track, reported roaring business during the F1 week. Corporate entities, likewise, are entertaining clients at hotel suites and aboard yacht charters.

Many high-profile MICE events also took place during the F1 period, among them the debut of Asia Crypto Week (26 September to 2 October) in Singapore. The two-day crypto conference, called Token2049, concluded with a closing party at the Marina Bay Sands Rooftop and the F1 Singapore Grand Prix.

Other high-profile MICE events include the inaugural edition of the Time100 Leadership Forum, which will be held at National Gallery Singapore on 2 October and will feature speakers such as former Google chief executive Eric Schmidt.

Other major MICE events such as the 20th Forbes Global CEO Conference (26-27 September) and the ninth annual Milken Institute Asia Summit (28-30 September) have also returned to Singapore this week, taking place at The Ritz-Carlton, Millenia Singapore and Four Seasons Hotel Singapore respectively.

The Temasek Foundation's Philanthropy Asia Summit, meanwhile, took place at Shangri-La Singapore on 30 September.

Some 90,000 delegates were expected to attend the 25 MICE events held during the same period as the F1 race.

The only night race on F1's calendar, the Singapore Grand Prix has generating over S$1.5 billion (US$1 billion) in incremental tourism receipts for the country and attracted over 550,000 unique international visitors since its debut.



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