Thailand Plans to Rev Up Economy with Bangkok F1 Bid

Thailand is pursuing a bid to host a Formula One street race in Bangkok in 2028, pending cabinet approval. The initiative aims to be a 'Sustainable F1' event, promoting both motorsport and green investment. If successful, it could enhance tourism and bolster Thailand's economy.

Thailand is setting its sights on hosting a Formula One street race in Bangkok by 2028, with plans heading to the cabinet for approval next week, according to a government official. Prime Minister Paetongtarn Shinawatra, fresh from attending the Monaco Grand Prix, is spearheading the initiative, which has already received positive feedback from race officials.

The proposal, along with a feasibility study, will be presented to the cabinet on June 4. Although specifics on the sustainability component remain sparse, government spokesperson Jirayu Houngsub assured that the event would be environmentally conscious and could attract green technology investments alongside motorsports.

Amid a packed Formula One calendar with 24 global races, including four in the Asia-Pacific region, the event could provide a significant tourism boost to Thailand's economy. The country has prior experience with international motorsport, having hosted MotoGP rounds in Buriram, and previous discussions with Formula One's Stefano Domenicali underline Thailand's ambitions to become a global events hub.

(With inputs from agencies.)