Thailand’s cabinet has approved a US$1.2 billion bid to host a Formula One street race in Bangkok starting in 2028, aiming for a five-year deal through 2032.
Government spokesman Jirayu Houngsub called it a major milestone, saying, “In the next 2-3 years, Thailand will have world-class competition we never thought possible.”
Tourism minister Sorawong Thienthong confirmed the bid is valued at around ฿40 billion (US$1.23 billion) and is part of a strategy to boost tourism—a key sector of Thailand’s economy.
Prime Minister Paetongtarn Shinawatra previously discussed the plan with F1 CEO Stefano Domenicali, initiating a feasibility study for a street race in the capital. While Thailand already has an FIA-accredited track in Buriram, the proposal focuses on a new street circuit in Bangkok.
