Tourism Boosted by Singapore F1 Grand Prix – Significant Increase in Arrivals & Revenue

Due to the hosting of the Singapore F1 Grand Prix this year, the Lion City enjoyed a strong boost in tourism, further helping the country to get back on track following the pandemic. This popular race which was held between 30th September and 2nd October 2022 drew a large crowd of spectators with approximately 40% of them being made up of foreigners. The race which took place on the Marina Bay Street Circuit was won by Mexican S. Pérez driving for Red Bull and the official tourism figures speak for themselves.

As per the data released by the Singapore Tourism Board on 28th October 2022, the average room rate of hotels recached S$284.37 in September which was a 14-year high. Additionally, overall hotel room revenues in September reached a significant S$390.8 million which powered this figure for the first nine months of 2022 to S$2.1 billion. It’s expected that the Christmas season will likewise see an influx of visitors who can stay at popular locales such as Farrer Park; Singapore hotels here such as the SG Clean certified PARKROYAL on Kitchener Road, Singapore, feature stringent sanitization and hygiene measures and provide an ideal base for business or leisure.