MANAMA: Bahrain has cashed in to the tune of over $1 billion (BD378 million) from Formula One, it was confirmed yesterday.
The milestone figure was reached during the last Gulf Air Bahrain Grand Prix in April, Bahrain International Circuit (BIC) officials revealed at a Press conference at the Ritz-Carlton Bahrain Hotel and Spa.
Bahrain first hosted Formula One in 2004 and BIC chief executive Martin Whittaker said the event had become a resounding success, attracting more spectators and viewers each year.
He said an extra 20,000 air travellers boosted traffic at Bahrain International Airport by 10 per cent during the last race, while the amount of advertising went up by 15pc.
Mr Whittaker described the 2007 Gulf Air Bahrain Grand Prix as the most successful so far, with early figures indicating the number of TV viewers around the world is likely to far outstrip the 540 million that watched the race last year.
He also revealed that temporary grandstands will increase the capacity of the BIC by 2,000 for next year's Grand Prix.