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SINGAPORE: Businesses in the Marina Bay area have taken steps to ensure any losses as a result of the F1 road closures are kept to a minimum.
Traffic build-up on most roads leading to the Marina Bay area was a common sight ahead of the F1 race starting Friday.
Office workers had to walk some distance from train stations or the nearest drop-off point as a result of the road closures.
Said one woman: "I think people will cope with it for the sake of this F1. It's just that over these few days that they have to reschedule their journey."
Another woman said: “It’s just once a year and besides, there’s no choice, right?”
A male tourist added: "It's a bit more inconvenient but it's part of the package of hosting a formula one grand prix. So it's great and I quite like it. I think it adds to the atmosphere."
If motorists are unsure which roads they can access with the road closures, marshals are on hand to direct traffic and people.
But some shoppers are staying away.
A check showed that those who do shop here are tourists staying in nearby hotels or office workers in the area.
Anticipating this, businesses are taking measures to minimise losses such as holding more promotions and giving away discounts at branches in the Orchard Road area.
For example, a jewellery company at Suntec City with outlets around the island said it decided to intensify its promotion efforts at its branches in Orchard Road since August to offset the losses expected at its Suntec City branch.
The Esplanade has also worked with its tenants to improvise business strategies.
Shireen Khoo, manager, Business Development, Simply Peranakan Cuisine, said: "With the past year experience, there are many people coming by to ask for package lunches and they sell well, so this year we intend to do the same thing."
But at least three shops have decided to close till next week.
The Esplanade, which lost some S$750,000 in venue-bookings and related revenue last year is expecting similar losses this year.
Ravi Sivalingam, director, Operations, Esplanade Theatres on the Bay, said: "As a result of the road closure, we can't have performances in our main venues, so over the course of the next five days, the concert theatres, the two studios will be empty.”
Despite the gloom, there are some bright sparks.
Most track-side hotels said they are almost at full capacity.
For example, Marina Mandarin said bookings at its hotels started coming in from March.
To facilitate the movement of guests during the race period, the hotel has issued car decals to those who drove here from Malaysia as well as cab drivers, so that they can enter the area to ferry guests around. - CNA/vm
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