Bernie Ecclestone has reiterated comments made to the media at Singapore last month, confirming that India will host its maiden Formula One Grand Prix in 2011.

"We have India and here I can say that the Grand Prix will be inserted into the calendar in 2011," he told Gazzetta dello Sport newspaper when asked about future locations for rounds of the Formula One World Championship.

Ecclestone also hinted that there are "two or three options" in Russia, adding; "the first concerns Moscow… but it is not yet time to think about a date."

Asked about the fact that, following the cancellation of the Canadian GP in 2009, north America will be missing from the F1 calendar for the first time since 1958, he said: "America works in a different way. Certain world events, like Formula One in some countries or the Olympic Games, are financed by the state. In America they are organised by private entities, who want to make a profit even before the race has been held. It's a bit too much."

The costs of hosting a round of the World Championship has meant that for many years organizers have been lucky to break even far less make a profit. However, as Ecclestone continues to convince eastern governments to get aboard the (supposed) F1 gravy train it is worth considering, bearing in mind that since the whole world is affected by the current financial crisis where exactly will all the tourists will come from.

At a time when people are worried about their savings, pensions, mortgages and jobs, next year's holiday, especially if it is to an exotic location for a once in a lifetime trip to an F1 race, will be considerably low on the totem pole.