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SINGAPORE: The inaugural Formula 1 SingTel Singapore Grand Prix may be five months away, but parties celebrating the event have already started.
Entertainment outlets expect these parties to bring in extra revenue during the race season.
A party launching the F1 victory champagne - Mumm Champagne - is just the beginning of a series of F1-related nightlife events which are being held before, during and after the race in Singapore.
Franck Lapeyre, managing director of Pernod Ricard Singapore, said: "We plan to have, in fact, about six to seven parties to bring us to the Grand Prix. The Formula 1 events are being viewed by roughly 2 billion people worldwide, so it's definitely going to give us a fantastic exposure."
"To do it (the race) in the city at night is of course something which brings... party mood. In terms of sales, we do hope, of course, people would be happy to open... some bottles of Mumm."
Industry players such as Lifebrandz's Ministry of Sound and Zouk also expect sales at their outlets to go up by at least 30 per cent during the F1 weekend.
Both are also in talks with the Singapore Grand Prix to organise events on the race circuit.
Zouk's marketing manager Tracy Philips said, Zouk-Kuala Lumpur saw almost a double in takings every year during the race.
"So I would assume that we could see the same here as well, especially this being the first time in Singapore," she added.
According to a 2005 academic research done on the F1 race in Malaysia, half of its spectators were foreigners, with 30 per cent of them from Europe.
These visitors spent over US$1.6 million (S$2.2 million) on entertainment, food and drinks in a single weekend.
The Singapore Tourism Board also expects the F1 race to bring in some US$72 million (S$100 million). - CNA/ac
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