Singapore "is still interested" in hosting its Formula 1 race "if the terms are right, and discussions on keeping the event in the Southeast Asian nation are under way," the Singapore Tourism Board said, according to Melissa Cheok of BLOOMBERG. Singapore Tourism Board CEO Lionel Yeo said, "I think the event is still a good one and I think it’s something we’re interested to look at provided the terms and conditions are right. The discussions are still ongoing." Then-F1 CEO Bernie Ecclestone suggested the Singapore Grand Prix would not be extended "when the five-year deal expires this year." Singapore-based DBS Group Holdings Ltd. Senior Economist Irvin Seah said, "We should move away from the mindset that the F1 should be here just so we can bring in a certain number of tourists every year. You must look beyond the numbers. It’s about the branding, overall image of Singapore in the global tourism landscape." The Singapore Tourism Board is "now forecasting slower growth in tourist arrivals this year amid global economic and political uncertainties and stiffer competition from neighbors in the region" (BLOOMBERG, 2/14).
