Sepang Circuit Once Generated Nearly US$232 Million Through F1 Races
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The Sepang International Circuit (SIC) once recorded a significant economic impact for Malaysia through the hosting of Formula One (F1) races. According to the Ministry of Youth and Sports, hosting the races generated nearly US$232 million in revenue for the country.
One of the events that garnered widespread attention was the Gulf Air Bahrain Grand Prix. The event was moved to the Sepang Circuit as a special one-off occasion. This move proved Malaysia's capability in handling world-class sporting events with high standards.
The success of the hosting did not only provide economic returns, but also raised Malaysia's profile on the international stage. The race was reported to have attracted the attention of 827 million viewers from around the world who watched the live broadcast of the event.
Although Malaysia is no longer a host on the F1 race calendar, the impact of the event is still remembered. The experience of managing this prestigious race helped Malaysia build a reputation as a premier destination for global motorsports.
Overall, the hosting of major sporting events like F1 in Sepang has made a significant contribution to the country's tourism and economic sectors. It serves as proof that sports facilities in Malaysia are capable of competing and attracting the interest of sports fans from various countries.
Sources: CNA
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