Co-funding Total Cost of Organising 2022 Formula One Singapore Grand Prix

Ms Hazel Poa asked the Minister for Trade and Industry (a) what was the total cost of organising the 2022 Formula One Singapore Grand Prix; and (b) of the total cost, what was the total cost that was ultimately co-funded by the Government and what were the types of costs that were co-funded.

Mr Gan Kim Yong: The cost of organising the 2022 race was between $135 million and $140 million. This was similar to previous years of hosting the race. As per past years, the Government’s share was 60% of the total cost. The types of costs that the Government co-funded comprised items, such as maintenance of the racetrack, setting up infrastructure for the event, such as grandstands, hospitality suites and providing security and medical services during the event.