PETALING JAYA: The recent F1 Bahrain Grand Prix in Malaysia generated an estimated RM345 million in economic spillover for local micro, small and medium enterprises (MSMEs), says the government.
In a statement, the entrepreneur development and cooperatives ministry said the high-profile motorsport event attracted a record 261,000 spectators to the Sepang International Circuit (SIC), nearly half of whom were international tourists.
Its minister, Steven Sim, said the economic impact from the three-day event highlighted the role of large-scale international sporting competitions in driving economic activity through increased tourism spending and demand for local goods and services.
