Thailand’s cabinet on 17 June 2025 approved a proposal to bid for the rights to host Formula 1 races in Bangkok for five consecutive years starting in 2028, according to Tourism and Sports Minister Sorawong Thienthong.
The project is estimated to cost 40 billion baht (approximately US$1.1 billion) and is positioned as a significant effort to attract international events, stimulate tourism, and generate broad economic benefits for the country.
Sorawong Thienthong confirmed that initial discussions have already commenced with Formula One Group and the Thailand Convention and Exhibition Bureau. He also leads a government-appointed committee to study the project’s feasibility, with representatives from multiple ministries involved.
Government spokesman Jirayu Houngsub detailed the proposed race location, which centres on Krung Thep Aphiwat Central Terminal Station (Bang Sue Grand Station) and adjacent areas. The planned 5.7-kilometre street circuit will stretch from Chatuchak Park to the station.
The race zone will encompass several key areas: 800 rai (approximately 128 hectares) within the station’s compound, 100 rai (16 hectares) at Mo Chit 2 bus terminal, 240 rai (38 hectares) near Chatuchak market, 163 rai (26 hectares) in Queen Sirikit Park, and approximately 2,000 rai (320 hectares) behind PTT Plc headquarters.
Each annual race is expected to run over three days, with two additional days allocated for practice sessions. The overall event will require closures lasting up to ten days, including preparation and dismantling periods.
Prime Minister Paetongtarn Shinawatra initiated the proposal following a meeting with Formula One CEO Stefano Domenicali in March 2025. After their discussions, the Prime Minister ordered a detailed feasibility study to assess Bangkok’s readiness to host a street circuit Grand Prix.
Although Formula One’s current 24-race calendar is largely filled, upcoming gaps may allow new hosts to join. Domenicali has reportedly identified Thailand as a potential future venue, reflecting growing interest in expanding the sport’s Asian presence.
Currently, Formula One includes four races in the Asia-Pacific region, among them the Singapore Grand Prix, which has become a flagship event in Southeast Asia.
In evaluating the project’s potential, Thailand is also drawing lessons from Singapore’s experience.
In response to media queries following corruption charges faced by Singapore’s former Transport Minister, S Iswaran, in January 2024, the Singapore Ministry of Trade and Industry outlined the considerable economic and social benefits the race has delivered.
According to the Ministry, since its debut in 2008, the F1 Singapore Grand Prix has attracted over 550,000 international visitors and generated around S$2 billion (approximately US$1.48 billion) in incremental tourism receipts. The event has also significantly enhanced Singapore’s global reputation as a leading Global-Asia business and tourism hub.
Between 2008 and 2022, the Singapore race reached a global audience exceeding one billion viewers. Numerous high-profile international business events, including the TIME100 Leadership Forum, Forbes Global CEO Conference, Milken Institute Asia Summit, and SuperReturn Asia, have been organised around the race week, capitalising on the influx of global leaders and executives.
Beyond tourism, the event supports local industries such as logistics, transport, construction, and engineering. More than 1,000 students from Singapore’s Institute of Technical Education and polytechnics are trained annually to take part in various operational roles, providing them with valuable real-world experience at a world-class event.
Minister Sorawong expressed confidence that a Formula 1 race in Bangkok could also break even within its first year, though he acknowledged that profitability would depend on various factors, including ticket sales, sponsorships, and the broader economic impact.
Hosting a Formula 1 event involves substantial costs. Industry estimates suggest construction expenses can range from US$200 million to over US$1 billion, with annual hosting fees potentially reaching US$55 million. Nevertheless, cities that successfully host F1 races often gain significant international exposure and economic gains.
If Thailand’s bid is successful, Bangkok would join an exclusive group of global cities that host the prestigious race, positioning the country for increased tourism, business opportunities, and international recognition in the years ahead.
Further feasibility studies are ongoing as Thailand advances its negotiations with Formula One Group.
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