Why has Singapore quickly become one of F1′s most important and successful races, where events in places like Korea and India have floundered?
Of course the charisma of the night race and the economic location of the event, in the business gateway to Asia are significant factors. But the reason why it works so well is the business model for organising the event. And it’s one other F1 races and aspiring hosts would do well to emulate.
The key to it is a public/private model; a 60-40 split between the Singapore government and a private company owned by entrepreneur Ong Beng Seng, whose property, hotels and lifestyle business also extends to operating Ferrari dealerships in Singapore and Shanghai. Ong was the first to bring Haagen Dazs ice cream to Asia and is one of Singapore’s main concert promoters via his Lushington Entertainments company.
For the complete article proceed HERE.
Now the Malaysian GP on the other hand has been around longer but fails miserably in comparison. Why? Here are some reasons I think why:
1. Local Attendance - Even though the Malaysian GP is way cheaper to attend by the locals, it is still expensive due to local living standards.
2. Location - The Sepang track is too far for locals to attend and it does not offer convenient public access nor does it have any public facilities nearby such as shopping, eating and entertainment.
3. Management - The management of the Sepang track and event does not have the funding, vision or marketing skills as the Singapore organisers. I've dealt with them for a few years and I know firsthand the limited vision and drive they have. It is unfortunate.
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