Singapore said the Formula One
event will cost less to host in the coming five years and draw
more visitors after concluding negotiations just as the city-
state’s fifth night race weekend began.
The country, the first to stage a night race for the Grand
Prix, expects expenses to drop about 15 percent to 20 percent,
according to the Ministry of Trade and Industry. The cost of the
race is about S$150 million ($122 million), with the government
co-funding 60 percent of the amount, said S. Iswaran,
Singapore’s second trade minister, who’s responsible for
developing the tourism industry. Full story
