The first two-day conference of its kind in the Gulf is scheduled to take place on April 1-2, 2008, immediately prior to this year’s Gulf Air Bahrain Formula One Grand Prix on April, 4-5-6.
Motor Sport Business Forum said the decision to bring the Forum to the Middle East came about during last year’s Bahrain Grand Prix, when it was clear to see the growing impact and importance that motor sport was having on the GCC region not only with the growing fan base but the financial investments which the region has committed to.
Not only is Bahrain host to the first and only round of the FIA Formula One World Championship in the Gulf but it also holds a 30 per cent investment in the Mercedes McLaren Formula One Team. In 2009 Abu Dhabi will follow Bahrain’s example by joining the F1 fraternity with a second Middle Eastern round of the FIA Formula One World Championship and also has a 5 per cent stake in Ferrari, which prompted its further investment in a Ferrari Theme Park.
Motor Sport Business Forum said motor sport is thriving in the Middle East, where investment is being made across many nations. Dubai is building the world’s only Formula One Theme Park next to the Dubai Autodrome circuit; Qatar’s Losail Circuit holds the opening round of the premier motorcycling world championship, Moto GP; Saudi Arabia has witnessed the construction of a new international-standard venue in Riyadh and the Jeddah Raceway drag strip while the Jordan Rally is to be included on the FIA World Rally Championship calendar for the first time in 2008.
Talal Al Zain, Chairman of the BIC explained, “The GCC is an incredibly influential financial hub in the world. It has realised huge potential in investing in motor sport as the industry offers numerous amounts of platforms from a financial level and also a promotional level. The commercial side of motor sport is an exciting business and no matter which industry you are in it offers unique opportunities to enhance a company’s profile, to obtain financial gain or simply to use it from a spectator angle and entertain clients. This realisation has led to the many investments from the region and motor sport has therefore become of huge importance to the Middle East which is why a Forum of this calibre is a must.”
