KUALA LUMPUR: The Formula 1 Gulf Air Bahrain Grand Prix at the Sepang International Circuit (SIC) generated an economic impact of nearly RM950 million, the Dewan Rakyat was told.
Youth and Sports Minister Dr Mohammed Taufiq Johari said the race, held from Oct 2 to 4, attracted approximately 261,000 fans, including an estimated 103,000 on race day.
Citing Formula One Management (FOM), he said the race was broadcast internationally and watched by 827 million viewers.
"More than 97,000 tickets were estimated to have been sold, while more than 50,000 international tourists and about 5,000 foreign workers came to Malaysia for the event," he said.
Taufiq said the event was made possible through close cooperation between SIC and Bahrain International Circuit, with support from the government and other stakeholders.
He said the arrival of international spectators also benefited the tourism, hospitality, aviation and small and medium-sized enterprise sectors, while promoting Malaysia as a sporting and investment destination.
Unlike previous arrangements, Bahrain bore the hosting rights costs, allowing Malaysia to benefit economically from the event, he said.
SIC and an appointed consultancy firm would conduct a cost-benefit assessment, as the race had only recently concluded.
"The findings of the cost-benefit assessment will be among the considerations for the government in determining whether Malaysia should consider hosting Formula 1 again in the future," he said.
He was responding to Rodiyah Sapiee (Batang Sadong), who asked about the race's economic benefits compared with government costs and whether a cost-benefit assessment would guide future decisions on hosting F1 regularly.
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