Singapore Grand Prix -Formula 1 at WOKNSTROLL
The amazing #formula1 #nightrace is back to Singapore for the 10th year.
it’s going to be a great weekend and I will keep you updated with the best food and race experience.
Meanwhile, you can read an article I wrote at 2010 race, Published at the TheMarker Online
and translated into English here :
Written by Karni Tomer, “Haaretz Themarker” newspaper and website
Singapore’s Formula 1 night race is on everyone’s minds; following a year of financial troubles, the world’s most expensive sport rakes in the millions once again, attracting countless tourists and worldwide businessmen; Business and pleasure, the automobile version.
80 thousand visitors finding themselves in one place at the heart of Singapore do not, apparently, affect the local population much. The citizens’ matriculate order and patience are admirable, especially for those coming all the way from the sweaty Middle East. Traffic flows smoothly and the visitors arrive it their destination from five different subway stations, air-conditioned and well secured by amiable police officers in suit. If it weweren’tFormula 1 Singapore- Themarker article by karni Tomeror the dreadful noise coming from the racing cars’ jet engines – one would believe that Singapore olds one of the world’s most exciting and prestigious sports events: the Formula 1 car race. The first ever of its kind taking place during the night.
Visitors arriving at the Formula 1 compound during a late September afternoon can witness, besides Formula 1 races, accompanying races such as the Asian Porsche Carrera cup and Formula B.M.W pacific. Every night, as the races came to a close, leading artists the like of Maria Carey, Missy Eliot, Sean Kingston and Adam Lambert, performed on enormous stages.
Singapore has invested 5 million Singaporean Dollars (about 3.8 US$) in entertainment in order to extend the visitors’ time out between races. Add to this food stands and shops by brands such as Ferrari, Red Bull and Mercedes Mclaren.
Visitors amassed on the teams’ shopping stands all around the city as well as the racing compound, buying shirts and hats at an average price of 70 Singaporean Dollars, umbrellas at 90 Singaporean Dollars and signed baseball caps by the drivers at 450 Singaporean Dollars. However, the most successful item of all was the surviving kit, at only 2 dollars, which included ear plugs and a plastic raincoat. Since all tickets to all three of the racing days were sold out in advance, the Singaporean hosts and visiting teams’ only concern was the tropical weather, threatening to flood the field and interrupt the race. But in Singapore, as always, even the weather was put in line, and besides constant rain during the first few hours of the first day’s training, the weather and conditions were perfect.
Brendite and Neville, businessmen residing in Singapore for the past several years and originally from Ireland and New-Zealand, cheered enthusiastically for Fernando Alonso, Ferrari’s race driver who finished first following a tight race with Red Bull’s driver, Sebastian Vettel. The two said they are thrilled at the sight of a Formula 1 night race in Singapore. “Seeing fast cars at the heart of the city, right at the centre of financial action where we work – it’s exciting”, they said. “We’ve been to the races in Malaysia and Australia. But a Formula 1 race, taking place within the city in which you live and work – that’s way more thrilling.”
Do you think it’s worth the Singaporean investment – 150 million dollars a year?
“Without a doubt. We love the skyscraper skyline that carry corporation names such as the UOP and HSBC banks. It’s very fitting for Singapore to host such a race.”
Other than race sponsorship and broadcasting rights, corporate hosting is yet another revenue model in the Formula 1 industry. Organizers offer corporations hosting packages which include seats at the honours stands – seats with a view over the track’s most exciting rounds, lavish dinners with the finest wines and drinks as well as glamorous parties and events with top artists.
Singapore’s formula 1 race has become a notable date in businessmen’s global events calendar worldwide, and they flock to the small island to do business and close deals with the popular race as a background. Mody Mano, VP and partner in the Navig8 shipping company – which transports fuel and oil and funs its business from Singapore since 2005 – offers his hospitality to clients and major partners during the Formula 1 racing events a third year in a row.
“These events had turned part of companies’ business culture”, says Mano, “during the last three years it’s a global event to which clients may invited. It was only natural we made it a hosting model, even if Singapore’s visiting costs reach 5,000-6,000 Singaporean Dollars per guest.”
When do you start getting ready for the race?
“We start at around July, when we book rooms in hotels adjacent to the race tracks, right at the business heart of Singapore. Singapore has a more business atmosphere. Businessmen don’t come especially for the races, but can combine sports and business. Bahrein or Monaco, for example, don’t have the same business depth as Singapore. When clients come, they integrate the Formula 1 with work meetings and professional conferences.
“Formula 1 in Singapore is the first in a series of intensive occasions in the shipping world. All of Asia’s shipping community arrives to these events, and it’s a combination of business and pleasure. In the mornings they have work meetings and in the evening enjoy the Formula 1 races, celebratory dinners and parties.”
Even banks utilize the event and plan seminars and special dinners for clients who come to the city. “Formula 1 fits with Singapore’s attempted brand for itself – an international business capital, dynamic and glamorous. Businessmen are more than happy to be a part of that brand.”
600 million viewers
The Singaporean race’s most complex – and unique – challenge is the fact that it takes place during the night in order to fit with European viewers’ broadcasting times. In order to have the required conditions for the race, a state-of-the-art lighting system was installed, to fill the track with artificial daylight. The system, designed in Italy, provides lighting at a daylight level, with no flashing lights to blind race drivers throughout the track. The effort certainly paid off, when you see a race flashing in the dark.
Race drivers also required a special re-fitting for their internal clock in order to get accustomed to the differences between day- and night-time, especially since they mainly come from Europe, which lies at a time zone 6 hours behind. The best solutions for the teams which are based in Europe and only two weeks ago raced in Italy, is to have them stay in European times, instead of Singapore’s 6 hours forward.
How is it done? They are awoke at around 14:00, served lunch at dinner time and dinner at 3:00. Even keeping hotel rooms in the relevant floors dark is a part of it. All these efforts keep the teams wide awake during the night – yet hardly at sync with the outside world. “We’re completely isolated from the daily activity around us, but we have to stay sharp and focused during the night so we must sleep well and keep a good rhythm.” Says British Louis Hamilton, Formula 1 world champion in 2008, and a driver for the Vodafon-Mclaren-Mercedes team. “It’s very demanding to make sure you’re not tempted to sync with the local time, since your body automatically wants to change. Everything around us- light, temperature, humidity- encourage it”.
Following a thrilling weekend full of motor adrenaline, shows and parties, Singapore can tick another task in its way to become a leading business tourist destination in Asia. All tickets to the race were sold-out in advance, with 240 thousand visitors coming to the Formula – of which 40% were tourists. Motor sport enthusiasts enjoyed an exciting race which had them at the edge of their seats until the very last seconds, and the organizers may breathe a sigh of relief thanks to a flawless production.
The four last races in the 2010 Formula 1 series in Japan, South Korea, Brazil and Abu Dhabi – the last of which taking place on November 14th – will decide who are the driver and team to be heralded as race champions. After the Singapore race, with aggregated points, the Red Bull team driver, Australian Mark Webber, was crowned current leader of the board with 202 points. Following closely is Spanish Fernando Alonso, Ferrari team driver, who reached first place at the Italian and Singaporean race. Third and fourth are Hamilton and German Sebastian Vettel from the Red Bull team respectively. Reached second place in Singapore.
The Singaporean race was tense all throughout, as the first five places had a good chance to improve their ranking. Eventually, the race was decided following a tight competition led by Fernando Alonso, with Sebastian Vettel hounding him all the way to the finish line. Alonso won at an only 0.3 second difference.
At the same race, a dramatic collision took place between Webber and Hamilton, which led to his force forfeit of the race. Yet another dramatic moment occurred at the last lap, when Finnish driver Hiki Covaleinan’s car burst in flames. The incident ended well: the driver did not lose his senses and put out the fire quickly.
At the morning after the race, those passing through the heart of the city would only see pile of equipment waiting to be transported to storage until next year. Traffic flowed uninterrupted and business went back to normal. Singapore’s golden touch proved itself once more, and everyone’s eye are turned to the next attraction in line.
A constant rise in revenue
Singapore may be a small city-state, but it has grand ambitions, such as a goal for an annual 17 million tourists by 2015; and it will do and buy all it can in order to reach that goal, and become
Asia’s leading destination for business and tourism. It all started with the building of the world’s largest Ferris wheel, bigger than London’s, and went on with the Sheldon Adelson’s three Marina Bay Integrated Resorts towers, that included a lavish casino, conference halls and “Sky Part” – a 57 story high park with a pool. Several visitors preferred to watch the race from its cool water.
And it’s not over: on the Marina’s waters floats a stadium which only months before successfully hosted the youth Olympics. Not far from there is Sentosa, an island of tourist attractions which turned into an exclusive resort for Singaporean millionaires, with a casino that registered a whopping 503.3 million dollars revenue in this year’s second quarter. The “Universal Studios” theme park also attracts many tourist from Malaysia and Hong Kong.
In 2008 Singapore hosted the Formula 1 for the first time, joining a respectable list of 18 other countries around the world, having the Formula teams staying with them for 3 days every year. The race track passes through the city’s main streets: the cars drive through old colonial buildings as well as skyscrapers which form the centre of business and private banking. From there, the track runs under the giant Ferris wheel and into the Marina bay area, where the Marina bay sands and integrated resorts buildings were constructed.
At the front of the old supreme court, built in 1937 at the time of British rule, UBS signs wave in the wind – the global financial services corporation which sponsored the race this year – and Singtel, telecom giant and a major sponsor for the championship, that keep reminded all who forgot that Formula 1 is, first and foremost, a financial business. Every sign and available corner cost a lot of money for sponsorship owners, yet eventually yield a return of investment in the form of 600 million Formula 1 viewers worldwide.
Singapore guaranteed to host the race for 5 years, until 2012, at a yearly investment of 150 million dollars, 60% out of which are government funded. The first race in Singapore took place in September 2008, a week after the global financial crisis. The crisis’ consequence, as published in the “New-York Times”, damaged the Formula 1, the world’s most expensive sport, as well.
The year after that, the series lost some of its major sponsors such as the big auto makers, which streamlined its pocked with millions of dollars. According to “Formula Money”, a publication that analyses the sport’s business aspect, the whole sport’s revenue dropped by 200 million dollars as direct result of the crisis.
The “New-York Times” emphasised that the financial crises made the sport level with financial reality and act in a more solid and calculated way. Corporations such as Renault, Toyota, Honda and B.M.W. that sponsored teams in the race, quit the series due to financial difficulties, but three others came in their place. During these times, new entrepreneurs who came in to the scene, bought or create alternative teams at a lower cost- yet still enjoy the high exposure.
Gerard Lopez who lead the Genii Capital take over on the Renault team and purchased 75% of its shares in the team, estimated that “when the shares’ value and indices rise, it’s a sign that business work properly and marketing budgets are available. Therefore, budgets will be diverted to global sports events. Since Formula 1 is the most viewed global sport on an annual basis, it was obvious that some of the money will get to it.”
And indeed, despite the crisis and lower sponsor revenue, the Formula 1 team and owner of the broadcasting rights, headed by Bernie Ecclestone, revenue in 2009 crossed the 1 billion dollar line – a rise of 6.4% from the year before. This prosperity is mainly based on the sport events’ broadcasting rights and entrepreneurs’ investments (40% each).
The rest of the revenue comes from sponsors such as DHL – the official formula one logistical partner, and Allianz, the race’s official financial services provider. Two years after the crises and not only is Formula 1 still around and kicked, but it’s much healthier and improved in comparison with earlier years. The event continues to prosper, thanks to an imperative clause in the Formula contract which guarantees a rise in the race’s entry fees by an annual 10%. Thus – crisis or no crisis – the revenue keeps on rising.
Formula headed east
The Formula 1 season comprises of a series of races, taking place once every two weeks, all around the world. In 2010, 19 countries take part of the race, 7 of which are in Asia including Japan, China, South Korea and Malaysia. In 2011 India will join the list. That’s probably what Bernie Eccelston, president of Formula 1, meant when he said at the Asian motor sport conference: “People used to say: move forward young people, but now the world’s moving east. Formula has spread around the world and many were made aware of the sport, but it took us a long time to get to that.”
Asia’s economic growth stimulated the countries’ will and ability to host the race. It takes place over a weekend, with the first few days dedicated to training. At the end of the second day is the Qualifying, a race to determine starting points based in driver’s speed.
The Formula 1 race takes place on the third day, in which the drivers are to pass 305 kilometres at the highest speed (61 laps in Singapore) over their competition. During the laps, drivers receive data and alerts from the car’s electronics system and the team’s control centre. Based on data and team strategy, the driver and team decide when to pull over at the PIT stop, where eroded ties are replaced or filled with air, damaged are fixed and fuel filled. The goal is to maximize an automobile abilities during the race.
The winner is the driver to finish all laps at the highest speed and received the highest number of points in the tournament. Points add up during the series and the Formula 1 world champion is the driver to finish the series with the highest number of points. Additionally, a prize is awarded to the winning team.
Race drivers are FIA qualified, which the sponsors pick based on their driving skills but also in accordance with various commercial considerations. The Singapore track is not a set track, but one that passed through the city streets; it is unusual and poses a challenge to drivers. On the one, it offers uneven streets with curves and bends, and on the other long roads that allow high speed and impressive performances.
Our guides are offering amazing food tours this weekend so what are you waiting for? let’s #woknstroll
http://www.singaporegp.sg/
http://www.visitsingapore.com/en.html
Published on 16/10/2010 http://www.themarker.com/dynamo/cars/1.593826
