BUSINESSES surrounding the proposed Formula One route were clapping their hands in glee, upon yesterday's announcement.
Most expect business to pick up because many F1 fans have deep pockets.
Said Sooria Kafi, 62, marketing manager of Outback Steakhouse at Millenia Walk: "I used to work at Pan-Pacific Hotel in Sepang, and I know the number of peopleF1 will attract.
"When it comes, we will come up with special set meals and do up the place in line with the F1 theme."
The manager of watch store Precious Time, Jeff Lee, 28, agreed.
"We don't usually have many tourists frequenting Millenia Walk, but F1 may change that," he said.
"The store will come up with promotions or liaise with F1 sponsors."
At the Esplanade, Ichiban Boshi store manager Sophia Lim, 25, is hopeful that F1 will bring in more diners because "most people will come for their meals before or after the race".
Last September's International Monetary Fund and World Bank meetings caused many businesses in the Suntec City area to lose money because of the inconvenience caused by the tight security.
Said Cal Ng, 30, store manager at Kenny Rogers Roasters in Marina Square: "The IMF required a lot of security. But this won't be the case for F1, so we're not expecting a bad turn in business."Furniture store Barang Barang, also located at Marina Square, is eagerly awaiting F1's arrival.
Supervisor Jonathan Lim, 44, exclaimed: "F1's a great event and it'll create a big hoo-ha because Singapore hasn't hosted such an event since the 70s. We're expecting a boom in business."
Although some acknowledge that the road closures will cause inconvenience, Giordano's CityLink store manager Simon Chook, 28, insisted that it is just a minor issue.
"Sales will soar because there'll be people who will go the extra mile just to come into the area to watch the race," he said.
However, some are not that optimistic. Bernard Lee, 33, store manager at Aesop Millenia Walk, said: "Things will remain the same for regular shoppers. The only people who will be affected are the F1 fanatics because they are the majority who will be down to watch the race."
Outside Singapore, tour operators are already gearing up to bring in tourists for the event.
Johan van Veelen, the managing director of F1 Grand Prix Tour in South Africa,believes that the Singapore race will attract at least 40.000 tourists.
"We'll certainly organise tours to Singapore for the F1 race. Our clients will stay a day or two after the grand prix to allow for additional sightseeing time. We're expecting about 500 locals going over."
Diane Simons, manager at Grandstand Motor Sports in England, views the night race as an added incentive for tourists.
"There'll be a high demand for the first year, but it's up to Singapore to put up a good show for the demand to stay," she said.
"Sadly, the problem is that people start to become greedy when F1 is in town. Hotel and transportation prices start to rise, and people become disillusioned.
