The event, renowned for attracting a global audience, has proven to be a pivotal catalyst for Singapore's economy, with marked increases in visitor arrivals, nighttime spending, and digital payment adoption.

According to VisaNet data, overall travel-related spending in Singapore during the F1™ race period rose significantly compared to the same period last year. International arrivals surged, with the majority of visitors originating from key markets such as China, Australia, the United States, and Malaysia. The event generated a double-digit percentage increase in both transaction volumes and overall spend across hospitality, retail, and entertainment sectors.

Affluent Travellers^[2] are Driving High-Value Commerce

Visa's data showed that while affluent travellers made up about 30 per cent of all travellers to Singapore during the race week, they accounted for an outsized 40 per cent of spending. Compared to an average week, affluent travel into Singapore was about 30 per cent higher but their spending surged by nearly 45 per cent during the week of the race, reflecting the sophisticated allure of the Singapore Night Race. Travel spending from Mainland China, Australia, the United States, and Indonesia accounted for over 40 per cent of spending done by all travellers during the week of the race, showing how Singapore is a major attraction for tourists not only in Asia, but around the world.

Affluent travellers are also highly diverse spenders. While the bulk of affluent spending was on retail and dining, such as for apparel (~15%) and at restaurants (~15%), affluent travellers were also keen to spend on a wide range of local retailers and services, especially on categories such as Discount Stores (~450% uplift) and Electronics (~100% uplift).

Another key finding was the growth in travel by corporate travellers^[1] in the race week, which coincided with various conferences and exhibitions. Compared to an average week, around 80 per cent more business cardholders visited Singapore during the race week with their spending nearly tripling by surging approximately 170 per cent.

Nighttime Economy: Late-Night Spending Trends

The unique timing of the Singapore Night Race fuelled a significant increase in nighttime commerce. In the week of the Singapore Night Race, late-night spending (11pm – 5am) surged by over 90 per cent, reflecting the demand for 24/7 consumption by tourists. Visa found that travellers are looking for food and fun after dark, with Restaurants, Fast Food, and Entertainment seeing the most traveller spending. Wide availability of these options in the Marina Bay region hosting the circuit, and in areas like Clarke Quay and Tanjong Pagar just a short walk away from the race, likely contributed to the surge in spending.

Small and medium-sized businesses across Singapore benefitted significantly from the influx of visitors. In the week of the race, SMBs in the city saw traveller spending rise by about 65 per cent, especially in retail and dining as racegoers explored the city including its heartlands. Restaurants (~80% uplift) like local eateries and cafes, as well as SMBs in retail such as Electronics (~80% uplift) and Groceries (~120% uplift) saw some of the most notable lifts in traveller spending.

"The F1™ Singapore Night Race is a showcase of Singapore's vibrancy and global appeal. Our data shows that the event not only attracts a diverse group of affluent travellers but also drives significant uplift for local businesses, especially small and medium enterprises. By enabling seamless and secure digital payments, Visa helps merchants and consumers make the most of these world-class experiences.

Importantly, Visa's data-driven insights empower issuers and merchants to identify spending patterns among tourists and pinpoint opportunities in high-growth districts. This enables our partners to tailor their offerings and marketing strategies, driving greater engagement and spend where it matters most. We remain committed to supporting Singapore's growth as a premier destination for international events and to fostering innovation that benefits everyone in our community," said Adeline Kim, Visa Country Manager for Singapore & Brunei.

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About Visa

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.

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