Confidence renewed

BUSINESS leaders, traders and tourism bosses are celebrating the return of Formula One to our shores this year … and are busy preparing the red carpet treatment for visiting drivers, teams and F1 fans travelling from across the
globe into the kingdom.

After taking a massive economic hit from the recent unrest, the reinstatement of the Gulf Air Bahrain Grand Prix into this season’s racing calendar will provide a welcome injection of renewed confidence into the marketplace.

The race will take place after Ramadan and the summer holiday season on October 30 … and the crowds will return early in 2012 for the start of the following F1 season.

Dr Esam Abdulla Yousif Fakhro, chairman of the Bahrain Chamber of Commerce and Industry, described the news as an ‘encouraging step’.

He said: “Formula One has always put Bahrain on the map every year. It is what everyone talks about. It gives tremendous media coverage to the kingdom.

“This exposure provides Bahrain with a lot of business in terms of retail and tourism. It is the sort of function that every merchant longs for and waits for anxiously.

“Due to recent events, the entire business sector in terms of retail and hospitality, suffered a loss in revenue. And, although Bahrain is back in business, the news of F1 coming back has given us that extra push we needed to show the world that we are moving forward and in the right direction.

“During the F1 season, Bahrain makes $400-500 million as a whole, including event ticket sales, airline tickets, hotel occupancy and retail spending. This event is remarkable for our economy and also for the morale of Bahrain.

“Also, the very fact that F1 will be slotted in at the end of October is a big victory for us as this only adds positivity to our economic climate.

The race will run shortly after Ramadan, which is usually when most activities start up again so it will be more optimistic this time.

“This is excellent news for Bahrain – I especially am overjoyed and I am sure the entire business community is too. I hope we keep receiving positive news.”

The Diplomat Radisson Blu Hotel, Residence & Spa acting general manager Sergio Fernandes is one of the many hoteliers thrilled to see the race back on. He said: “We are absolutely delighted that the F1 event has been reinstated in the 2011 calendar and also for 2012.

“This event plays a major part in the viability of the hotel industry in Bahrain and now having these dates the hoteliers can now look forward to an absolute extravagant event.

“We can now focus on bringing our team members back from their long vacation to help the hotel showcase Bahrain as a destination of choice as a F1 venue.

“I would like to thank the authorities and the relevant stakeholders for playing their part in bringing back this prestigious event to Bahrain and proving to the world that Bahrain is back to normality and ready to welcome international tourists.”