The Sepang circuit in Malaysia attracted 261,000 spectators during the three-day Bahrain Grand Prix, with its economic impact reported to be nearly $230 million. Meanwhile, Iran, despite the community's enthusiasm for cars, remains distant from this captivating world.
Economic and Social Effects of the Grand Prix
In early October, the Sepang circuit, which had been absent from the Formula One calendar for about a decade, was once again filled with crowds. Approximately 103,000 people attended on race day, with over 50,000 being foreign tourists. The Malaysian Ministry of Sports reported, based on data from Formula One management, that the economic impact of this event was close to 950 million ringgit, equivalent to about $230 million.
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It should be noted that this figure represents economic impact, not net profit. An independent cost-benefit assessment is still underway. Malaysia was fortunate not to pay the hosting fee, as Bahrain covered it. This is in contrast to Malaysia's withdrawal from the Formula One calendar in 2017 due to rising costs and declining returns.
Iran's Challenges in Motor Sports
The main question is why Iran has no place even at the negotiating table where such discussions take place. Formula One is, before being a race, a network of contracts, licenses, sponsors, and government relations. Bahrain and Malaysia were able to reach an agreement in a matter of months, which was also endorsed by Formula One and the International Automobile Federation. This type of diplomatic agility is possible for a country that has working relations with the world.
Iran has a car market and a young population interested in this field, but due to the lack of suitable infrastructure, it cannot compete in this arena. Sepang was built as a long-term government project aimed at tourism and branding, while motor sports in Iran have been reduced more to recreation and entertainment.
To host a global race, it is necessary for tourists to enter easily, pay, and feel secure and free. Given the social and economic restrictions in Iran, this has become difficult. Ultimately, Iran must recognize that regional countries have understood that a global race is both advertising, investment, and diplomacy.
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