Bahrain’s government has claimed that the upcoming Formula One Grand Prix event in the Gulf state will generate US$500m for the economy and create more than 3,000 temporary jobs.
The glamour racing event, which will be held on April 20-22, has attracted controversy due to the ongoing implications of the Arab Spring unrest in the island nation, which has left scores dead and clobbered the economy.
“We are hoping to generate around US$500m of direct and indirect benefits for the Bahrain economy,” said Shaikh Salman bin Isa Al Khalifa, in a statement sent out by state’s Information Affairs Authority.
Shaikh Salman claimed that the event is vital to Bahrain’s hospitality sector, with hotels running at 100 percent occupancy and half of all arrivals at the airport travelling via state-backed carrier Gulf Air.
Sheikh Salman also dismissed any concerns about the security of spectators attending the Grand Prix.
“It is like every other event where all security is taken care of in co-ordination with the FIA (Federation Internationale de L’Automobile).”
Bahrain has been one of the Gulf states hardest hit by the impact of the Arab Spring unrest, with one government estimate putting the damage to the country’s economy at US$800m.
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