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Why Formula One in India will be The Biggest Money Churner?
By siliconindia
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Wednesday, 19 October 2011, 00:05 IST
5. Tag Heuer:
Tag Heuer have been the official time keeper for Formula One racing. The Tag Heuer Formula One watches has become a popular item among consumers. Ending their contract with Formula 1 in 2003 Tag Heuer Formula 1 is still a leading product line and a much desired watch. With assistance from Formula 1 double World Champion Fernando Alonso the new Tag Heuer Formula 1 watch is been promoted across the globe. Executives at the Swiss luxury watch brand TAG Heuer have booked corporate boxes to host top clients and to showcase their best ware.
Apart from all of these we have some economic benefits and job creation by Formula One for the host country. Ten years of F1 have brought Australia gross economic benefits worth $1 billion and 28,000 jobs. In Bahrain, F1 race is amongst the biggest sources of income to the travel & tourism industry. Thus, all the hotels in and around Greater Noida are full during the India Grand Prix. Each of the 12 teams comes with a crew of about 100; then there are about 500 F1 functionaries and 10,000 guests expected. That will give over 11,500 rooms to the hotels around that time as reported by Business Standard.
