F1 rakes in big bucks but not everyone benefits from it
It is again the time of the year when hordes of tourists and residents alike splash out over the weekend.
From race and concert tickets to food and beverages, the Formula 1 Singapore Airlines Singapore Grand Prix 2024 is big business for all involved.
Around 250,000 fans are expected during the Sept 20-22 event.
The Straits Times reported that tickets have been largely snapped up, with race organisers Singapore GP saying 24 categories as well as all hospitality packages have been sold out.
Stores selling merchandise have popped up at places like Suntec City and Millenia Walk.
But just a stone's throw away, at Marina Square, it's not exactly as lively.
The road closures around Marina Centre and Padang stretch longer than the event itself – from Sept 18 to 24.
That's a week of affected traffic, a week of affected business for a handful of merchants, a week of frustrated cabbies and private-hire drivers.
"There has been a 50 per cent drop in our clientele since Day 1 of the road closures," Mr Ah Heng, 28, told TNP.
The worker at Good Chance Cafe lamented in Mandarin that the F1 "has severely affected our business", gesturing to the empty tables and chairs behind him when TNP visited on Sept 20.
"The dinner crowd has been halved. Who's going to compensate us for the lost business?” he added.
Facing the same dip in business is active lifestyle shop Liv Activ.
“All the tenants here will feel the sale drop. Because of the road closures, no vehicles and customers want to come in," manager Eric Lee told TNP as his colleague served the lone customer in the shop.
“There is totally no traffic, the people who come through here are headed for the F1 race.
“There has be 60-70 per cent drop in sales for me."
True enough, Starbucks was buzzing with customers who appeared to be mostly buying takeaway drinks. The road closures appear to have had a bigger impact on eateries and clothing stores.
Over at Lalu, a shop selling clothes for women, it was empty save for the couple of salespersons.
The women said there have been much fewer customers since the road closures although they could not give the severity of the dip in sales.
There was a slight disappointment in their faces when they realised we were not potential customers.
The road closures also affect cabbies and private-hire drivers, who often find themselves in a gridlock in certain areas as they avoid the Marina Centre and Padang.
Private-hire Xu, 49, told TNP: "Why must the road closures last much longer than the event? The event is just Friday to Sunday, but we have to deal with the closures four days extra.
"I really hate this time of the year. It's nothing but just a lot of hassle to the rest of us who are not F1-crazy."
Get The New Paper on your phone with the free TNP app. Download from the Apple App Store or Google Play Store now