Steven Sim: Tourism surge and foreign fans drive RM345m SME gains from Bahrain F1 GP

The Bahrain Gulf Air Formula 1 Grand Prix at Sepang International Circuit generated over RM345 million in economic spillover for local micro, small, and medium enterprises (MSMEs), notably benefiting sectors like hospitality, food and beverage, and retail.

Almost half of the 261,000 spectators were foreign tourists, who spent significantly more than usual due to extended stays and heightened demand for local goods and services.

This highlights the crucial role of major international sporting events in boosting economic activities through tourism and enhanced market opportunities for SMEs.

Malaysia is encouraged to leverage such events to foster connections between SMEs and larger industry players.

KUALA LUMPUR, Oct 8 — Local micro, small and medium enterprises (MSME) reaped over RM345 million in economic spillover effects of the Bahrain Gulf Air Formula 1 (F1) Grand Prix (GP) at Sepang International Circuit.

Entrepreneur Development and Cooperatives Minister Steven Sim Chee Keong added that almost half of the 261,000 spectators were foreign tourists.

“The impact reflects the important role of large-scale international sporting events in stimulating economic activities, especially through the rise in tourism expenditure and demand for local goods and services.

“The Bahrain F1 GP in Malaysia has had a very drastic impact on the SMEs, especially those in the hospitality, food and beverage, retail, transport, entertainment, tourism-related services and support industries,” he said in a statement today.

Those who attended the F1 race were projected to have spent 2.17 times more than ordinary events, he said, adding that foreign tourists usually spend more due to longer stays and expenditure spent for accommodation, food and beverages, transport, shopping and recreational activities.

Based on the success and economic spillover effect, Malaysia could benefit from international sporting events such as the G1 as a platform for SMEs to have wider opportunities and market access.

“This effort includes strengthening ties between SMEs and bigger industry players, event organisers, tourism operators and local suppliers so that the economic benefits generated by such large-scale events can be enjoyed by more small businesses,” he said. — Bernama

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巴林海湾航空一级方程式大奖赛在雪邦国际赛道举行，为当地微型、小型和中型企业 (MSME) 带来了超过 3.45 亿令吉的经济溢出效应，尤其惠及了酒店、食品饮料和零售等行业。

26.1万名观众中，近一半是外国游客，由于停留时间延长以及对当地商品和服务的需求增加，他们的消费额明显高于往常。

这凸显了大型国际体育赛事在通过旅游业促进经济活动和增强中小企业市场机会方面发挥的关键作用。

鼓励马来西亚利用此类活动来促进中小企业与大型行业参与者之间的联系。

吉隆坡，10 月 8 日讯——巴林海湾航空一级方程式大奖赛在雪邦国际赛道举行，为当地微型、小型和中型企业 (MSME) 带来了超过 3.45 亿令吉的经济溢出效应。

企业发展及合作社部长沈志强补充说，26.1万名观众中近一半是外国游客。

“这一影响反映了大型国际体育赛事在刺激经济活动方面的重要作用，特别是通过增加旅游支出和对当地商品和服务的需求。

“在马来西亚举行的巴林F1大奖赛对中小企业产生了非常大的影响，尤其是那些在酒店、食品饮料、零售、运输、娱乐、旅游相关服务和支持行业工作的中小企业，”他今天在一份声明中表示。

他表示，预计参加 F1 赛事的观众的消费额是普通活动的 2.17 倍，并补充说，外国游客通常会花费更多，因为他们停留时间更长，而且会在住宿、餐饮、交通、购物和娱乐活动方面花费更多。

基于G1等国际体育赛事的成功及其带来的经济溢出效应，马来西亚可以将其作为中小企业拓展机遇和市场准入的平台。

他说：“这项工作包括加强中小企业与大型行业企业、活动组织者、旅游运营商和本地供应商之间的联系，以便让更多小型企业能够享受到此类大型活动带来的经济效益。”——马新社

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证人向法庭作证称，他曾向哈姆扎·扎伊努丁的前助手支付了35万令吉现金，以换取马来西亚皇家警察的招标项目。