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Bahrain F1 windfall 'could top $400m'

Manama, April 23, 2012

Bahrain could reap $220 million to $400 million from hosting the three-day F1 Grand Prix, said the chairman of Bahrain Chamber of Commerce and Industry.

'According to some estimates, the F1 windfall could top $500 million,' Dr Essam Fakhro added.

The business community rallied to congratulate leaders on the success of the Gulf Air Bahrain Grand Prix 2012.

'The private sector takes pride in the renewed global vote of confidence,' Dr Fakhro said.

He extended congratulations to His Majesty King Hamad, HRH the Premier and HRH the Crown Prince.

'The striking success of the race reflects Bahrainis' ability to excel in this vital sector which ensures the country substantial dividends,' he said.

He paid tribute to Interior Minister Lieutenant-General Shaikh Rashid bin Abdulla Al Khalifa for efficient security measures for the race.

Meanwhile, BCCI board member Nabeel Kanoo paid tribute to HRH the Crown Prince for ensuring the success of the race despite attempts to thwart it.

'Bahrain has re-emerged to prove to the world that it is a country of security and stability.'

Kanoo said the F1 windfall will benefit key economic sectors, particularly travel and tourism. – TradeArabia News Service

Tags: Bahrain | BCCI | Formula One | F1 | Grand Prix |

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