The head of Real Estate Commission in the Chamber of Industry and Commerce in Bahrain, Khaled Al Mo’ayed, has stressed on the importance of supporting Formula 1 race event. He asked all citizens to take part in events and activities being held on the margin of Bahrain Grand Prix.
Al Mo’ayad added saying that Formula 1 in Bahrain is considered one of the most important economic stimulants which energizes a number of economic sectors in the kingdom such as hospitality, touristic and services sectors.
He predicted the positive economic effects of Formula 1 to reach 600 million dollars either from direct or indirect benefits.
Bahrain assured its incomparable success in holding this event for 10 consecutive rounds in the last 10 years which expresses the economy strength in Kingdom of Bahrain.
Moreover, the occupancy rate in Bahrain hotels surged to hit 90% in all categories due to the approach of Bahrain Grand Prix event date to be held next Friday.