Moving away from the traditional base of F1From three Grand Prix four years ago to six today, Asia has become the new focus for the movers and shakers who drive Formula One.
The announcement of Singapore as a host city last week reinforces Bernie Ecclestone's belief
that the region is a key cog in the future development of the sport.
With little chance that any Asia-Pacific Grand Prix will be axed any time soon, it means it will host at least six races from 2010 - in Australia, Malaysia, China, Japan, South Korea, and Singapore.
Three of them (China, South Korea and Singapore) have been added since 2004 at the expense of Formula One's traditional base in Europe as the sport aims for a more globalised calendar.
Germany and Italy both dropped one of their two races this season, with the Nurburgring and Hockenheim now alternating as hosts of the German Grand Prix while the San Marino Grand Prix at Imola was axed.
And there has been talk of Asia getting an even bigger slice of what has become the world's most watched sporting spectacle after football.
"India, we are talking," Ecclestone, President of Formula One Management, told Autosport over the weekend.
Promoters and marketers are acutely aware of the opportunities in the Asian region where economies are growing rapidly and its citizens are becoming increasingly wealthy.
The inaugural Grand Prix in China in 2004 generated an estimated 650 million dollars in revenue.
The drive into Asia gels with Ecclestone's remarks ahead of that landmark race when he said: "It (Asia) is the most important part of the world and I mean most important.”
"Europe has become a bit of a Third World - when you see what people are doing here it's quite incredible."
The addition of Singapore adds another dimension to the high-octane sport many felt was becoming boring in the
Michael Schumacher era.
While safety issues are still being ironed out, the aim is for the affluent city-state to hold the first ever night race in Formula One's 60-year history, around a street circuit to boot.
While top drivers including
Fernando Alonso have opposed the plan, citing safety fears, others have given their qualified support.
The attraction to Ecclestone and Singapore is that it will fit nicely with European television audiences, and if racing under the stars comes to fruition it is certain to be one of the world's most watched sporting events of 2008.
"It will be unique, different and allow the Singapore event to reach out to television audiences in Asia, Europe and the United States," said Singapore's Minister for Trade and Industry S.Iswaran.
It will surely boost Singapore's global recognition with a potential audience of 500 million people watching a race that will pass modern skyscrapers, colonial-era buildings and the country's Marina Bay waterfront.
The spectacle will also generate huge sums of money, with an estimated 100 million dollars forecast in extra tourism revenues from an expected 80,000 fans, many of them from other parts of Asia.
Extra income will come from ticket sales, merchandising and sponsorship, helping offset the 150 million dollars' cost of hosting the race.
"Singapore is a leading business centre and our aim is to be a vibrant global city that is abuzz with high quality entertainment and events," said Iswaran.
"A world class event like the F1 race, with more than 500 million viewers worldwide, will take us closer to this objective."
Source AFP
