How much will Singaporeans spend on F&B establishments during F1 weekend?
Research by SevenRooms showed that the biggest spenders will be those aged 55 and over.
Food and beverage (F&B) establishments can expect an uptick in their revenue during the F1 race weekend as Singaporeans are expected to spend a staggering $420m visiting restaurants, cafes, and bars.
Research from SevenRooms, a guest experience and retention platform for the hospitality industry, revealed that Singaporeans plan to spend an average of $70.23.
Men (77.0% vs 67.6%) are likely to splash out more in F&B establishments. They plan to spend at least $73.95.
Across age groups, those 55 and over will be the biggest spenders during the race weekend. They expect to spend $88.60 on average.
Those aged 16 to 24 will spend the least in bars, restaurants, and cafes during the race, with an expected average spend of $55.77.