Singapore will continue to host the Formula 1 Singapore Grand Prix as part of the FIA Formula One World Championship for another seven years, from 2022 to 2028.
The Singapore night race has been staged 12 times since its debut in 2008. About 268,000 spectators attended when it was last held in 2019, marking the second highest attendance for the race. This affirms that the Formula 1 Singapore Grand Prix remains one of the most highly anticipated in the racing calendar, as the first night race with a unique street circuit that runs through the heart of the city. The Singapore race experience is also elevated by an exciting line-up of lifestyle and entertainment programmes that extend beyond the Circuit. Since its debut in 2008, the race has generated more than S$1.5 billion in incremental tourism receipts and attracted more than 550,000 unique international visitors.
The race also supports local businesses in the engineering, construction, and hospitality sectors. 90% of the race organisation is sub-contracted annually to Singapore-based companies, providing employment opportunities and enabling businesses to reap economic benefits and built capabilities, while gaining exposure and new business opportunities. Annually, some 30,000 staff, contractors and stakeholders are accredited to work at the Marina Bay Street Circuit, with training provided to students for operational roles within the event grounds, hospitality personnel, as well as volunteer race marshals.
In the lead up to the 2022 race, all parties will work closely together with relevant government agencies and industry stakeholders to refine and implement appropriate protocols to prioritise the health and safety of all participants, staff, fans and the community.
Starting this year, STB and SGP will work together to reduce the carbon footprint of the Singapore race and foster the transition to more sustainable business models. Initiatives include switching to renewable energy sources, increasing recycling efforts and switching to sustainable materials. Formula 1 is also exploring maximising logistics and travel efficiency through process and volume optimisation and by using the least carbon intensive transport available. A full sustainability audit will be undertaken, which will guide the development of other green initiatives that will be implemented for the rest of the new term. As part of its corporate sustainability efforts, SGP will also continue to engage the local community, and encourage diversity amongst event personnel and volunteers.
This is the fourth contract renewal for Singapore, and the seven-year extension is the longest for the race to date. This will give Singapore a longer runway to capture pent-up demand as international travel recovers. It also allows STB, SGP and industry partners to develop new experiences to meet the evolving interests of locals and visitors.