Business | Economy
Bahrain says Abu Dhabi race will not cut F1 boon
A Formula One race in Abu Dhabi from 2009 won't undercut the $548 million Bahrain generates from hosting a Grand Prix, the head of Bahrain's Economic Development Board said.
- Bloomberg
- Published: 00:34 April 5, 2008
Dubai: A Formula One race in Abu Dhabi from 2009 won't undercut the $548 million Bahrain generates from hosting a Grand Prix, the head of Bahrain's Economic Development Board said.
"We view this as a complement and not competition," chief executive officer Shaikh Mohammed Bin Eisa Al Kalifa said. "It brings the eyes of the world to the region two times a year and therefore generates interest and exposure."
Abu Dhabi was added to Formula One's 2009 calendar last year and, according to a recent report, Qatar wants to host a Grand Prix once it upgrades its Losail circuit.
The economic benefit of the Bahrain race last year surged 46 per cent from 2006, Dubai-based Godo Research and Marketing said in a report last month.
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