Formula 1 Grand Prix drives RM345 million spillover benefits for Malaysian MSMEs

Malaysia’s staging of the F1 Gulf Air Bahrain Grand Prix produced a projected RM345 million spillover impact for micro, small and medium enterprises across sectors such as hospitality, food and beverage, retail and transport. The race drew roughly 261,000 attendees, with close to 50% identified as foreign tourists who typically spend more and stay longer. Steven Sim, the Entrepreneur Development and Cooperatives Minister, emphasized the event’s role in opening wider market opportunities for MSMEs and integrating them into tourism and event-management value chains.

Rizal Datuk Nainy, chief executive of SME Corp Malaysia, noted that the benefits align with the scaling-up objectives of the 13th Malaysia Plan. The government aims to strengthen links between small businesses, larger industry players, event organisers and local suppliers to ensure broader economic gains.