Bahrain Grand Prix ‘could generate $500m’
MANAMA, March 29, 2016
Businesspeople and economists said Bahrain Grand Prix for Formula 1 due to be hosted by Bahrain International Circuit (BIC) at Sakhir from April 1 to 3 will generate about half a billion in revenues into the kingdom’s GDP, according to a report.
Boosting Bahrain's transformation to the home of motorsport in the Middle East will increase the economic gain for the local market, covering all main pillars of the national economy including the sectors of trade, tourism transportation and services, the Bahrain News Agency reported.
Kamal bin Ahmed Mohammed, Transportation and Telecommunications Minister, stated that the sales of BIC since the year 2006 and until March 31 last year had generated BD75.9 million ($199.8 million).
The latest figures released by the Ministry showed the Bahrain International Circuit (BIC) sales have risen to more than BD10 million in 2014 alone. - TradeArabia News Service
