Singapore to host the Formula One World Championship until 2021

Singapore GP and the Singapore Tourism Board have announced that they will continue to host the FIA Formula One World Championship for four more years from 2018 to 2021. The announcement comes against the background of a year-to-date 19 percent increase in ticket sales, with the weekend sales still to be included.

In its first decade, the race has yielded significant economic benefits, attracting over 450,000 international visitors to Singapore and about $1.4 billion in tourism receipts. With more than 90 percent of the race organisation sub-contracted annually to Singapore-based companies, the race also contributes to the local economy, over and above the tourism outcomes.

This event has also showcased Singapore as a beautiful, vibrant and attractive destination to over 780 million international broadcast viewers. Over the years, the Singapore GP has distinguished itself as one that is not just about the sport, but one complemented by a strong lineup of concerts, entertainment and lifestyle offerings both within the circuit park and throughout the city.

Mr. Lionel Yeo, Chief Executive, Singapore Tourism Board said, "The race in Singapore has provided an excellent platform for businesses to test-bed new lifestyle initiatives and products. This has not only created an exciting atmosphere during the race season, but also injected creative concepts and experiences that continue to attract tourists to Singapore all year round."

Singapore GP's Mr. Ong Beng Seng said, "Since 2008 we have enjoyed a close working relationship with Formula One and all of its key players. We believe this has been a beneficial partnership for all parties, for our city and for the sport, and we look forward to building on that foundation with F1's new owners."