Thailand to bid for Formula 1 Bangkok street race from 2028 with S$1.1 billion project
Thailand’s cabinet has approved a proposal to bid for the rights to host Formula 1 races in Bangkok from 2028, with an estimated cost of 40 billion baht (US$1.1 billion). The planned five-year event aims to boost tourism, global recognition, and the economy.
- Thailand has approved a bid to host Formula 1 in Bangkok for five years from 2028, costing 40 billion baht (US$1.1 billion).
- The 5.7 km street circuit will centre on Bang Sue Grand Station and nearby sites.
- Officials say the race could break even quickly, citing Singapore’s F1 success as a model.
Thailand is moving to host its first Formula 1 Grand Prix, after the cabinet approved a proposal on 17 June 2025 to bid for a five-year deal beginning in 2028.
Tourism and Sports Minister Sorawong Thienthong said the project is expected to cost 40 billion baht (approximately US$1.1 billion).
He described the race as a strategic initiative to attract international events, stimulate tourism, and deliver wide-ranging economic benefits.
Street circuit planned around transport hub
According to government spokesman Jirayu Houngsub, the proposed 5.7-kilometre street circuit would centre on Krung Thep Aphiwat Central Terminal Station, also known as Bang Sue Grand Station.
The route would extend through surrounding areas, including Chatuchak Park and Mo Chit 2 bus terminal, with supporting facilities spread across Queen Sirikit Park, Chatuchak market, and land behind PTT Plc headquarters.
The race zone covers more than 2,600 rai, equivalent to over 400 hectares. Each annual event is planned to span three days, plus two practice days, with road closures lasting up to 10 days to allow for setup and dismantling.
Government committee to assess feasibility
Minister Sorawong said preliminary talks had already begun with Formula One Group and the Thailand Convention and Exhibition Bureau.
He also chairs a multi-agency committee tasked with studying the project’s feasibility, covering aspects from logistics to financial sustainability.
Prime Minister Paetongtarn Shinawatra initiated the process after meeting Formula One CEO Stefano Domenicali in March 2025.
The Prime Minister subsequently ordered a comprehensive review of Bangkok’s readiness to stage a Formula 1 street race.
Learning from Singapore’s experience
Formula One’s current calendar is crowded, but gaps may emerge that allow new cities to join. Domenicali has reportedly pointed to Thailand as a potential venue, reflecting the sport’s push for greater Asian representation.
Singapore’s experience is serving as a key reference point. Since debuting in 2008, the Singapore Grand Prix has drawn more than 550,000 international visitors and generated about S$2 billion (US$1.48 billion) in tourism receipts, according to the Ministry of Trade and Industry.
The race has also helped Singapore secure a global television audience exceeding one billion across 14 years. Numerous major conferences, such as the TIME100 Leadership Forum and Forbes Global CEO Conference, have been timed to coincide with race week.
Local industries, from logistics to engineering, benefit directly from the event. Over 1,000 students from the Institute of Technical Education and polytechnics are trained annually to participate in operations, gaining hands-on experience in a large-scale international setting.
Costs and potential benefits
Hosting a Formula 1 event involves major expenditure. Industry estimates place construction costs between US$200 million and US$1 billion, while annual hosting fees can reach US$55 million.
Nonetheless, cities that successfully stage races often see lasting tourism and business gains.
Minister Sorawong expressed confidence that a Bangkok Grand Prix could break even in its first year, though he noted profitability would depend on ticket sales, sponsorship arrangements, and wider economic effects.
Regional positioning
Currently, the Asia-Pacific region hosts four Formula 1 races, including Singapore’s. Adding Thailand would reinforce Southeast Asia’s standing as a motorsport hub.
Bangkok’s entry would also place it among a select group of global capitals hosting the sport, alongside Singapore, Monaco, and Abu Dhabi.
Next steps
Further feasibility studies are under way as Thailand advances negotiations with Formula One Group. If successful, Bangkok could host its first Grand Prix in 2028, with the event secured for five consecutive years.
Officials emphasise that the race is intended to showcase Thailand internationally, while spurring domestic economic activity across tourism, retail, and services.
0 Comments