Bahrain to earn $250m from Grand Prix

Bahrain grand prix 2012 Tourism chiefs in Bahrain said the F1 was 'the best news ever' for the industry and were anticipating a $250 million (BD94.5 million) windfall from this year's Gulf Air Bahrain Grand Prix. Thousands of people are expected to benefit from the three-day event, including restaurateurs, cafŽ owners, car rental companies, retailers and taxi drivers.
The return of the prestigious race has been 'the best news ever' for the tourism sector, said Bahrain Chamber of Commerce and Industry (BCCI) tourism committee head Nabeel Kanoo.
'There are also the other sectors associated with tourism that can get a slice of the pie.
'Care rental companies, restaurants, cafes, taxis and the retail trade will benefit immensely.'
Mr Kanoo said the eighth edition of the event in Bahrain, due to take place from April 20 to 22, could generate up to $500m and the tourism sector could get half of that revenue.
However, he said the government should take immediate steps to spruce up the traditional Manama Suq and make it attractive for tourists.
'The thousands who are expected to visit are not interested in malls and large stores,' said Mr Kanoo. 'They will come to the suq and shop in the traditional areas.'
Mr Kanoo said the old suq was a far cry from what it was a few years ago.
'The whole place is crumbling and is in urgent need of a facelift,' he said.
'This has to happen as soon as possible.'
Kanoo believes tourists will come to Bahrain, but said it was local people who would help revive the traditional shopping district long-term.
'Unfortunately, several plans that have been initiated have not reached anywhere,' he said. 'There are now new plans that look exciting.'
Kanoo said everyone in Bahrain should support security forces in maintaining law and order to help send a message to the world that the country was a safe place to visit.
'There is no doubt Bahrain is back in action and this world event will bring it back where it belongs,' he said.
'The negativity in some circles that still exists has to end and we have to all work together towards making this event a success.'