With a passion of racing, there is nobody who does not know about Formula 1 (F1) which is the highest class of single-seat auto racing. It is held in 32 countries around the world including Singapore. Two months ago, I was given privilege to watch the F1 night race held yearly in Singapore. The feeling was surreal as I hear the engine roar and invited artist playing my favorite tune in the background. In 2015, F1 attracted 86,970 spectators daily, with 260,912 spectators at the Marina Bay Street Circuit over the three-day weekend when it happened in Singapore (cite). Thus, it can bring out for the hosting plenty of positive impacts on various industries which are hotels, retails, transport, and companies and entertainments. Figures from the Singapore Tourist Office claim that the event brings in 150 million Singapore dollars from tourism (cite).
However, there are some disadvantages about the event which can cause environmental pollution. For every kilometer, an F1 car spews 1,500g of carbon dioxide which is nearly 10 times what a regular car produces) and each race produces close to 10 tons of carbon dioxide (cite ) in the air which are a threat to people's health.
https://www.singaporegp.sg/media/press-release/193
https://www.jamesallenonf1.com/2013/09/why-singapore-succeeds-where-korea-india-have-struggled/
https://www.wildsingapore.com/news/20070506/070515-1.htm