COVID-19 Halts 2020 Singapore Grand Prix & Hits Resulting Tourism Revenues

The 2020 edition of the Singapore Grand Prix which was slated to take place in mid September has been cancelled, following announcements by Formula 1 and Singapore GP. 

The primary reason has been attributed to the lack of time to put up the track due to continuing nationwide restrictions on construction and business activities brought about by the COVID-19 pandemic.

With the looming global economic downturn and travel restrictions denting international tourism, this would certainly adversely impact the estimated US$100m the race brings in revenue each year (average of the last 10 years), according to the Singapore Tourism Board (STB).

Singapore GP, the local F1 race promoter, said in its statement the race could not proceed due to the prohibitions imposed on access and construction of the event venue required for a street race to be held in the city, which usually begins in May.

Singapore GP said, “We are therefore unable to complete the race circuit infrastructure in time for the race to take place.”

Formula 1 also issued a separate statement citing how it is “impossible” to construct street circuits in a tight timeframe.

Besides Singapore, races in Azerbaijan and Japan have also been cancelled.

Formula 1 said, “In Singapore and Azerbaijan, the long lead times required to construct street circuits made hosting the events during a period of uncertainty impossible and in Japan, ongoing travel restrictions also led to the decision not to proceed with the race.”

Other challenges cited include ongoing mass gathering and worldwide travel restrictions, and many other regulations put in place to ensure public health safety.

Ong Ling Lee, Director, Sports, Singapore Tourism Board, said, “The Singapore Tourism Board (STB) supports the joint decision by race promoter Singapore GP Pte Ltd and Formula 1 to cancel the Formula 1 Singapore Airlines Singapore Grand Prix 2020, as this safeguards the health and wellbeing of participants, fans and all Singaporeans.”

“We take pride in our track record of hosting the first and only F1 night street race for the past 12 years, and we look forward to its return next year.”

The news is certainly a blow to the nation as the night race is the tentpole event in Q3 which could have given the city-state a post-pandemic confidence boost.