Summary on F1 Singapore Grand Prix 2
SWOT Analysis on Singapore F1 2
Reference List 4
Summary on F1 Singapore Grand Prix
This poster report aims to identify the strength, weakness, opportunity and threats of hosting F1 in Singapore. The report will show the costs and benefits along with the challenges and issues. For a period of time, all racing event was held in Singapore. The city stayed alive day and night with vibrant and dynamic experiences ranging from world-class entertainment, nightlife, dining to shopping and more. In 2014, tourists to Marina Bay Street Circuit enjoyed Formula One’s only full night race at Marina Bay,
Though Singapore has a small land size, it equipped its space within the required route needed for F1. On the other hand, there were other inconvenience due to the road closure for F1 which caused unhappiness to the local citizens such as road congestion, one-way road, road closure and diversions. Taxis driver would lose customers due to the traffic jams, ERP charges hence, passengers would rather preserve the high cost of taxi fare and instead utilizing the MRT trains.
(Gary Meenaghan, 2011)
SWOT Analysis on Singapore F1
Increases tourist into Singapore due to the high demand of F1 patrons.
Singapore will be more recognised and marketed globally.
Singapore's tourism industry and other relevant businesses profitability increases highly.
(Tein Hee Seow, 2014)
Definitely, safety can be a major issue as accidents are prone to occur during night ride racing
Carbon emission from the F1 racing will weaken any 'green' affords preventing global warming.
The F1 cars do not have headlights therefore the tracks need to be brightly led up and these causes a lot of money, furthermore, media for viewers' live telecast will also cost a large sum. Hence, taxation increases causing unhappiness to citizens. (Balqisjamil, 2012)
Opportunity: Focus on