Increase interest in travel boosts Singapore hotel rates as Grand Prix weekend arrives

Aside from the Grand Prix, tourists also come for Singapore-only experiences.

Hotel bookings and room rates climbed 10% this year compared to last year’s weekend, underlining a stronger demand for global events, Caesar Indra, President of Traveloka said.

“As Singapore is the only Southeast Asian city on the Grand Prix calendar, we can expect racing aficionados from across the region to gather for a weekend of adrenaline rush. According to our data, the majority of those who booked hotels on our platform during the F1 weekend are from Indonesia, followed by China, Vietnam, Singapore, and Thailand,” Indra said.

Indra said that this is the first year since borders fully reopened and, as one of Singapore’s marquee events, the F1 Grand Prix is a magnet for globetrotters who want to soak in a festival-like atmosphere abroad. 

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Additionally, Singapore is also a favourite hub of those keen to explore Southeast Asia. These factors contribute to the surging demand for hotel rooms in the city during this period, leading to higher prices.

Aside from the F1 Grand Prix, tourists are also keen on Singapore-only attractions. The top tickets booked are for Universal Studios Singapore, the Singapore Cable Car, and Bird Paradise. 

“These uniquely Singaporean experiences bring a blend of nature and urban activities that appeal to travellers across the spectrum,” Indra said.