Singapore to host FIA F1 race until 2028
This is the fourth contract renewal for the Singapore GP, and the seven-year extension is the longest for the race to date.
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.
This decision comes after careful consideration of the economic benefits brought by the Grand Prix such as employment opportunities and exposure for Singapore-based companies, said Formula 1, Singapore GP Pte Ltd (SGP) and the Singapore Tourism Board (STB) in a joint-announcement on Thursday (Jan 27).
Since its debut in 2008, the Singapore night race has generated more than S$1.5 billion in incremental tourism receipts and attracted more than 550,000 unique international visitors.
The Formula 1 race has been staged 12 times in Singapore since. The inaugural Singapore GP was won by Spanish driver Fernando Alonso, while both Lewis Hamilton and Sebastian Vettel have won four editions each.
Past races have also hosted concerts by headlining acts like Swedish House Mafia, Martin Garrix and Dua Lipa.
In the lead up to the 2022 race, which will be held on Oct 2, new efforts will be adopted to reduce the carbon footprint of the Singapore race.
These include switching to renewable energy sources, increasing recycling efforts and switching to sustainable materials. The least carbon intensive transport will also be used to maximise logistics and travel efficiency.
Additionally, as part of its corporate sustainability efforts, SGP will continue to engage the local community, and encourage diversity amongst event personnel and volunteers.
President and CEO of Formula 1, Mr Stefano Domenicali, said: “Singapore holds a special place on the F1 calendar, and this extension is part of our long-term commitment to continue to grow the sport in Asia.
“The plans that are in place to reduce the carbon footprint of the event are impressive and align with our plans to be Net Zero Carbon as a sport by 2030 and I look forward to continuing our successful relationship with Singapore GP and the Singapore Tourism Board as Formula 1 returns to this incredible city.”