Thailand Plots Huge Economic Success With $1.2 Billion Bangkok F1 Race
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources.
Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content.
The Thai government has officially sanctioned a budget of $1.2 billion to host a Grand Prix in the capital city of Bangkok. With several Grand Prix venues reporting a significant economic impact through Formula One, Thailand is eager to host a street race.
A 3.54-mile street circuit is being planned through the Chatuchak Park area, and the inaugural race is expected to take place in three years. A report by Autosport states that Thailand and F1 will enter into a five-year contract starting in 2028.
The confirmation of a street race in Bangkok arrives months after F1 CEO Stefano Domenicali met with Thailand's Prime Minister Paetongtarn Shinawatra to discuss the ambitious plan. Considering the economic boom local economies experience through F1 races, the global demand for F1 is witnessing an upward trend.
Oscar Piastri of Australia driving the (81) McLaren MCL39 Mercedes leads the field into turn one at the start during the F1 Grand Prix of Spain at Circuit de Barcelona-Catalunya on June 01, 2025 in...
Oscar Piastri of Australia driving the (81) McLaren MCL39 Mercedes leads the field into turn one at the start during the F1 Grand Prix of Spain at Circuit de Barcelona-Catalunya on June 01, 2025 in Barcelona, Spain. MoreThe news of setting aside $1.2 billion for the event was announced by tourism minister Sorawong Thienthong in a press conference. Government spokesperson Jirayu Houngsub revealed his confidence in hosting an F1 race. He said:
"In the next two-three years, Thailand will have world-class competition, which we never thought would happen in Thailand."
While Thailand is gearing up to potentially have its first race in Bangkok, F1 announced a fresh contract extension for the Canadian GP yesterday, which secured its spot on the F1 calendar for the next ten years.
The new four-year deal extended Montreal's validity on the calendar from 2031 to 2035. Newsweek Sports reported the comments of Stefano Domenicali. He said:
"As Formula 1 celebrates its 75th anniversary, it is fitting that we have announced an extension with the Canadian Grand Prix, a race that has such incredible history in our sport and is named after a true legend in Gilles Villeneuve.
"Montreal is an incredible city, full of energy and passionate fans, and I am delighted to confirm that we will continue racing here through to the 2035 season and that our media rights deal with Bell Media is also extending in the long term.
"I would like to thank the promoter, Octane Racing Group, for their continued efforts in upgrading this iconic venue in recent years, and all local, regional, and national political stakeholders who have worked closely together to make this event what it is today.
"I would also like to thank our incredible Canadian fans. I look forward to creating more unforgettable moments in Montréal with you over the next 10 years."
The announcement of the new Canadian GP deal and the upcoming race in Bangkok highlight the high demand for F1. But with the sport operating at its limit with the current 24-race calendar, it has had to drop iconic circuits such as Imola from the 2026 calendar, while Barcelona's future for 2027 remains uncertain.
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