Bahrain thinks it could could reap nearly BD30 million (approximately $83 million) in just a week of spending by fans drawn to the proposed new Formula One race track, reported the Gulf Daily News on Thursday.
The General Organization for Youth and Sports (GOYS) estimates that each annual race week could attract 50,000 visitors, spending an average of BD85 ($235) a day each on tickets, parking, petrol, accommodation, food and drink, entertainment and shopping, said GOYS president Sheikh Fawaz bin Mohammed Al Khalifa.
Between 3,000 and 8,000 people could also get temporary jobs for the week, he added.
The venue, which is scheduled for completion in August 2003, is expected to draw many other regional events, all of which will attract more spending.
“Work will begin on the track in Sakhir early next year.
A racing school is also planned for the world-class facility and car manufacturers are expected to snap up the chance to use the track for test drives to ensure their vehicles can stand up to Bahrain’s harsh conditions,” added Fawaz.
The estimated income from the track has been calculated by studying developments in other countries, which host F1 events.
“We looked at countries economies during races and found out that all sectors record a boost in revenue, hotel occupancy reaches 100 per cent, restaurateurs and retailers report that sales volumes rise sharply and part-time workers are hired,” he added.
In France, during the F1 race event, 8,000 people are hired part-time, and in the UK 3,000 are employed as part-time workers, so we expect to see the same in Bahrain, he told the paper – Albawaba.com
