Singapore recently hosted a surge of high-profile business events alongside its Formula 1 Grand Prix, attracting billionaires, global CEOs, and crypto executives. Over 40 business conferences took place during the 2026 Grand Prix period, a significant increase from previous years, according to the Singapore Tourism Board. Notable events included the Milken Institute Asia Summit, TOKEN2049, and the Forbes Global CEO Conference.
The Formula 1 race itself drew 301,294 spectators, the second-highest attendance in its history. The event has contributed over 2.2 billion Singapore dollars ($1.72 billion) in tourism revenue since its debut in 2008, though it costs approximately S$140 million annually to organize. Business events, or MICE (meetings, incentives, conventions, and exhibitions), are becoming a major driver of tourism revenue, with receipts rising 35% to S$2.3 billion in 2025.
Organizers are leveraging the excitement of Formula 1 to extend delegates' stays. Poh Chi Chuan, executive director of exhibitions and conferences at STB, noted that the city's buzz during the race creates a natural gravitational pull for business travelers. At TOKEN2049, overseas attendees made up 85.6% of participants, with Chinese attendees accounting for 11.8%, nearly double the previous year's share.
The influx of business travelers also boosted demand at Singapore's luxury hotels. Marina Bay Sands reported near-full occupancy during the Grand Prix period and hosted TOKEN2049 at its Expo & Convention Centre. The clustering of MICE events and Formula 1 helped push average room rates to record levels, with a 19.5% increase in October 2025 to S$384.15.