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EDB Chief Executive hails the positive impact of the Formula One race on Bahrain’s economy

April 21, 2015
Manama, Economic Development Board: Chief Executive, Mr. Khalid Al Rumaihi hailed the success of the 2015 Formula One Gulf Air Bahrain Grand Prix, held at the Bahrain International Circuit (BIC) and part-sponsored by the EDB.
 
The sporting event returned to Bahrain this year, once again putting Bahrain at the centre of the international racing scene and highlighting the Bahrain International Circuit’s position as one of the world’s leading circuits, said Al Rumaihi.
 
He welcomed the positive boost the race provides to Bahrain’s tourism and hospitality sectors, and emphasised that the event showcases the Kingdom’s open business environment where international investors are able to access the fast-growing GCC market.
 
This year’s race was attended by a record breaking crowd of more than 32,000 and international publication Formula Money has reported that the annual economic impact of the race is almost $300 million. In addition, statistics provided by the Bahrain International Circuit highlight a 60% increase in the number of tourists visiting the Kingdom since the launch of the first race in 2004, and the number of TV viewers and spectators exposed to Bahrain since 2007 because of Formula One is some 3.8 billion people.
 
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