FORMULA 1 REVS UP SINGAPORE’S BUSINESSES AND ECONOMY

According to initial estimates, the cost of hosting the Grand Prix is 150m Singapore dollars ($115m; £75m) per year
As much as 60% of that is being invested by the Singapore government through the Singapore Tourism Board (STB) in a bid to attract more visitors to the island nation
According to the Singapore Tourism Board, the country generated an extra S$160m in tourism revenue in 2010 as a result of hosting the race
That figure was S$93m in 2009 and S$168m in 2008
Analysts say that along with this, Singapore is also reaping intangible rewards