Formula One racing

27th September 2008
Saturday

What's on the headlines these few days? You don't even have to look. Of course it's Formula 1 racing. Being a first in so many ways, the coverage of this historical event far surpasses the other upcoming events, such as the Singapore Sun Festival, the ongoing Festival Mexicano, and many others.

As an international event that will ultimately draw more than a hundred million viewers, there is no questions about the hype that the whole of Singapore is going through. Wait a second. Is that really how it is?

Apart from special highlights in the newspapers and on broadcast mediums, the only hype seems to be coming from the downtown area where roads are sealed and seats are erected.

More grumbles than cheers are being heard from everywhere. Quoting an acquaintance, '... deprived of saunters at Esplanade/City because of a bourgeois' activity called racing'. The enthusiasm for this international event is evidently not present in many of the locals, myself included.

What is so special about watching a couple of cars zooming around in loops while burning holes in your pocket? In view of today's unstable financial market and rising cost of living, my opinion is that the race, which generally targets businessmen with briefcases laden with cash, should also contribute to the poor and needy around the world.

Arguably, the race will increase tourism rates locally, thus increasing the GDP of Singapore. But how will that increase in income be dissipated through the population? To surmise my thoughts, the rich will get richer, and the poor, poorer.

With Wall Street in turmoil, I believe that the funding that goes into these "bourgeois" entertainments could be better utilised in stabilising the financial sector.