Thailand's cabinet has given the green light to a substantial USD 1.2 billion bid to bring Formula One racing to the streets of Bangkok by 2028. This ambitious proposal aims to secure a five-year contract, hosting a Grand Prix annually from 2028 to 2032, marking a potentially historic moment for the Kingdom and Southeast Asian motorsport.
Government spokesperson Jirayu Houngsub conveyed the cabinet's decision, highlighting the significance of this move. "In the next two to three years, Thailand will have world-class competition, which we never thought would actually happen in Thailand," Jirayu stated. A budget of 40 billion baht (approximately USD 1.23 billion) has been allocated to support the bid, and a dedicated working group will be established to meticulously examine the logistical and feasibility aspects of hosting such a large-scale event.
Prime Minister Paetongtarn Shinawatra has been a strong advocate for the project, engaging in discussions with Formula One chief executive Stefano Domenicali. In March 2025, she commissioned a feasibility study to explore the possibility of a Bangkok street circuit Grand Prix starting in 2028. Shinawatra has emphasized the potential of a Formula One Grand Prix to enhance Thailand's image as a hub for international tourism and global events.
The Thai government views hosting the race as a strategic initiative to boost tourism, a critical sector of the Thai economy. They estimate that the Grand Prix could generate economic benefits of around USD 600 million for the Kingdom. The government is also promoting the idea of a "sustainable" race, aiming to attract investments in green technologies within the motorsport arena.
While the specific layout of the potential Bangkok street circuit is yet to be revealed, there are indications that it might incorporate areas near the Chatuchak market, a popular tourist destination in the northern part of the city. The inclusion of this vibrant area could offer a unique backdrop for the race, showcasing Bangkok's cultural appeal to a global audience.
Formula One currently has a packed schedule of 24 races, with four already located in the Asia-Pacific region, including the Singapore Grand Prix. While this presents a challenge, Domenicali has suggested that Thailand could be a strong contender as new opportunities arise within the racing calendar. If successful, Bangkok would join an exclusive club of cities hosting Formula One races, providing a platform to showcase itself on a world stage.
Thailand already has an FIA-accredited track in Buriram, which hosts a round of the MotoGP motorcycling world championships. However, the current proposal focuses specifically on a street race in the capital, Bangkok. Thailand has a presence in Formula One through Alex Albon, a Thai driver racing for Williams.
The prospect of hosting a Formula One race in Bangkok has generated excitement, but also some debate. Supporters emphasize the potential for economic growth, increased tourism, and enhanced global recognition. Detractors, however, raise concerns about potential costs, traffic disruption, and environmental impact. In 2020, Vietnam was slated to host its inaugural F1 race; however, the event was canceled due to the COVID-19 pandemic, and Hanoi has not been included on the race calendar since.
