Bahrain’s days as the Middle East’s sole Formula One destination are all but over. From 2009, Abu Dhabi, keen to diversify away from its dependency on oil, is entering the race, well aware of how hosting a global sporting event can put a country on the fast-track to being a mass tourism destination. And few sports can supply the instant recognition and glamour like the world’s premier motor sport event. The authorities see the advent of motor sport in the region as a matter of pride and prestige, with some even going so far as to declare motor sport an important part of the region’s sporting culture. The industry largely welcomes this as a tourism promotion strategy that has proved successful around the world, one that yields revenues and creates jobs. However, there are those who believe it is simply crass commercialization and that the competition to land such events is no different from the other petty rivalries between the cities in the region. “It certainly smacks of one-upmanship and a little jealousy - the Gulf states have really not learned to allow one member or the other have some space and develop a niche for each country, which can only enhance the whole body,” says Mohamed A. Ramady, a leading economist and columnist in Saudi Arabia. According to Ramady, the sheer number of competing financial centers, cultural projects and sporting events only adds to the desperation to steal each other’s ideas. “Formula One in Bahrain and then Abu Dhabi is not the end of it. Soon you will hear about Formula One in Qatar,” says Ramady, who is an associate professor of finance and economics at Saudi Arabia’s King Fahd University. Jasim Ali, also an economist and a member of the Bahraini parliament, says F1 is more about the money prize than taking pole position against regional rivals. “The FIA [F

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