April 12, 2011 at 4:00 pm
The Malaysian Formula One Grand Prix 2011 has just finished, with Sebastian Vettel continuing his winning streak in this year’s championship. For Malaysia, it was another successful staging of this prestigious event, with Lotus Renault GP Team’s third place finish being icing on the cake. The third place win was the first time that a team associated to the country has secured a podium finish, something that the country seems to be proud of.
A Formula One racer in action at Sepang
Now that the excitement is over, it will soon be time for the Malaysian government to decide on whether to extend the F1 race contract, which is due to expire in 2015. There might have been doubts as to whether the F1 race was still a top tier tourist attraction for the country in the lead up to the race. Questions were raised regarding the condition of Sepang International Circuit, and also the competition posed by nearby Singapore, which has an F1 race in the calendar.
Whatever the decision, Malaysians are still ensured of another 4 years of action packed racing in their country. But if we were to look at the thousands of spectators who turned out this year, the answer of whether or not F1 racing should continue in Malaysia should be very clear indeed.
Tell us what YOU think.
Read the full article below:
The Cabinet will decide later whether to extend the Formula One race in Malaysia when the contract ends in 2015, said the Prime Minister.
Negotiations are normally carried out between Formula One Management, race organiser Sepang International Circuit and Khazanah Nasional Bhd for the right to host a leg of the F1 world championship.
After witnessing the 2011 Petronas Malaysia Grand Prix yesterday, Datuk Seri Najib Tun Razak said he believed the race would increase Malaysia’s profile internationally,
A total of 105,018 people attended the three-day event, including 65,008 spectators yesterday.
Najib also congratulated the winning teams, including Lotus Renault GP Team that took third place through Nick Heidfeld.
On whether more Malaysian companies should participate in Formula One, he quipped: “Got three enough-lah. What more you want? That’s the maximum.”
The three Malaysian companies involved in Formula One teams are Mercedes GP Petronas, Lotus Renault GP and Team Lotus.
Another company Q-Net is a key partner with Virgin Formula 1 Racing team.
Former prime minister Tun Dr Mahathir Mohamad said Malaysia should continue hosting the race because the international event grabbed the attention of millions of people worldwide.
Dr Mahathir also said “it was good” to have a “Malaysian” car winning third place in Malaysia, which was a historic moment.
SIC chairman Datuk Mokhzani Mahathir said the turnout was encouraging with the number of spectators exceeding 100,000.
Source: The Star
Whenever I come across news of high-cost events like Formula 1 in Malaysia, I question if perhaps we might be better off spending the money on improving tourist infrastructure.
Would it not be better for us to concentrate on the ecological wonder that is Malaysia instead of promoting European-based, fossil fuel guzzling billionaires chasing each other around a tarmac playground?
Singapore’s per capita GDP is 5 times Malaysia’s. They don’t have the natural wonders that we do, so they have to light their streets as bright as day in order to fit into European and American schedules. Why do we have to compete?
I think it is all a matter of economics. Malaysia is trying to increase its revenue from the tourism industry, and like it or not, an event like the F1 brings in a lot of foreign visitors who might not even come to Malaysia in the first place. In addition, the revenue from the transportation of the cars and support equipment, the accompanying media crowd, all that means revenue for the country. Compare that against a tourist who might spend a week in Malaysia and you’ll have to admit that the revenue generated from such an event will be hard to match by the traditional tourist segment.
I guess money really makes the world go round.