Regular complaints about Formula 1 race in Singapore are really rather annoying. The whole event is not only a bargain for the city-state but an investment generating a very positive ROI.
The cost of organizing the race is about $150 million. 60% is paid directly by the government with the other 40% coming from sponsors like SIA or hoteliers et al (who are paying an additional 20-30% levy on F1-related packages sold to visitors).
Out of this $35 million is paid directly to F1 as a fee for hosting the race - and this is really the only monetary cost to the Singaporean economy since 90% of the work related is subcontracted to Singaporean companies (so the funds don't leave Singapore, they are just recycled in the country).
Meanwhile, foreign visitors to the race contribute directly ca. $130 million in tourist receipts for the few days spent in SG. That is before we even try to estimate the value of publicity generated by the event advertising Singapore and SIA, and the impact it has on the image of the city around the world.
Mind you, this calculation isn't exactly the same for all other venues on the F1 calendar, with Singapore likely being one of the biggest beneficiaries.
Unlike most other countries, where races are held in a field miles out of the nearest city, where only the most die hard aficionados may want to travel (and are more dispersed given lack of a single suitable location to sleep, drink and party), Singapore is very compact and accessible.
It means that hotels, restaurants, bars, clubs and shops stand to benefit much more from the arrival of many (often rather wealthy) visitors.
And the longer the event stays in SG, the greater its legend is going to become with time.
It's a no-brainer.
