The 48th running of the Macau Grand Prix will be one of the most expensive with a total budget of about $30 million - $5 million more than last year. Total expenditure is due to new infrastructure, increased transportation costs and higher insurance premiums as a result of the terrorist attacks on the United States.
The meeting, on the weekend of November 17-18, will be the most expensive since $50 million was spent on the existing purpose-built facilities in 1993.
Grand Prix organising committee chairman Joao Manuel Costa Antunes said this year's meeting would cost about 20 per cent more than last year's budget of $25 million. Most of the additional costs have been spent on new infrastructure, including the building of a new grandstand at Lisboa Bend.
Antunes said the meeting had been affected by the terrorists attacks on New York and Washington on September 11 and that insurance companies were, across the board, asking for five to six per cent more to cover the cars and motorbikes.
'The whole world has been affected by the terrorists attacks on America and even we have been affected, although not so seriously,' he said.
Earlier this month, the Macau International Music Festival was affected when three lead singers from New York pulled out of a concert.
But Antunes said there were 'no indications' that any of the drivers expected to compete in Macau would withdraw because of the attacks.