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Singapore expects good business as F1 comes to town

09-21-2011 11:05 BJT

SINGAPORE, Sept. 21 (Xinhua) -- The Grand Prix Formula One race coming to town this weekend was expected to bring good business to Singapore, reported local media.

The Singapore Tourism Board said it expected the race to bring in incremental tourism receipts of about 100 million Singapore dollars this year (79.4 million U.S. dollars), a gauge of the direct result of the event.

The race pulled in 160 million Singapore dollars (127.04 million U.S. dollars) in incremental tourism receipts last year and 98 million Singapore dollars (77.81 million U.S. dollars) in 2009.

This year's more modest projection perhaps reflected a more uncertain outlook for the global economy and weaker consumer demand and global travel, local daily Straits Times said.

Many conferences were typically held in conjunction with the F1 race.

The Singapore Grand Prix said on Tuesday evening that 98 percent of the tickets had been sold.

A double-dip recession will likely be far from the minds of those attending the lavish parties of the F1 race.

Local Chinese daily Lianhe Zaobao said on Wednesday that the Japanese office of the Singapore Tourism Board were offering a high-end five-day tour worth as much as 30,000 Singapore dollars that brings visitors to watch the events and stay at the hotel of the casino resorts Marina Bay Sands.

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Editor:Yang Jie |Source: Xinhua

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