Crypto Bosses, CEOs and F1: Singapore's Business Events Boom Gathers Pace
More than 40 business events were held around this year's Singapore Grand Prix period, up from over 25 in 2025 and over 30 in 2024, according to the Singapore Tourism Board (STB), CNBC reported on October 14. The events included the Milken Institute Asia Summit, TOKEN2049, the Forbes Global CEO Conference, the Solana Summit APAC and the Global-Asia Family Office Summit, held as billionaires, global CEOs and crypto executives descended on Singapore during the Formula 1 race week.
At TOKEN2049, one of the world's major cryptocurrency conferences, overseas attendees accounted for 85.6% of participants this year, up from 82.7% in 2025, according to figures provided by the event organizer. Chinese attendees accounted for 11.8% of participants, nearly double the 6% share recorded last year, overtaking Americans as the largest group.
The influx of business travelers boosted demand at Singapore's luxury hotels. Marina Bay Sands said its hotel operated at near-full occupancy during the Formula 1 period, and the integrated resort also hosted TOKEN2049 at its Expo & Convention Centre.
Formula 1 has generated more than 2.2 billion Singapore dollars ($1.72 billion) in incremental tourism receipts between its debut in 2008 and 2024, according to Singapore's Ministry of Energy, Trade and Industry, an average of about S$150 million per race; the race itself costs approximately S$140 million a year to organize. Singapore GP said the 2026 race drew 301,294 spectators, the second-highest attendance in the event's history. Receipts from meetings, incentives, conventions and exhibitions (MICE) rose 35% to S$2.3 billion in 2025, outpacing the 10% growth in Singapore's overall tourism receipts to a record S$32.8 billion, STB data showed. Poh Chi Chuan, STB's executive director of exhibitions and conferences, said organizers are capitalizing on the excitement around Formula 1 to extend delegates' stays, creating "a natural gravitational pull, when the city is buzzing and the right target audience is already flying in."
Source: GSM · USA (original Chinese edition)
Photo: 新加坡大奖赛期间滨海湾金沙上空的灯光秀（示意）。图片来源：Wikimedia Commons，Benjamin Goetzinger 摄，CC BY-SA 4.0 授权
