If successful, Bangkok will secure a contract to hold races annually from 2028 to 2032, government spokesperson Jirayu Houngsub announced during a news conference.
“In the next 2-3 years, Thailand will host world-class competitions, something we never imagined could take place here,” Jirayu commented.
Tourism Minister Sorawong Thienthong informed reporters that the bid is valued at approximately 40 billion baht ($1.23 billion).
In March, Thai Prime Minister Paetongtarn Shinawatra met with Formula One chief Stefano Domenicali, indicating that Thailand would initiate a feasibility study for a Grand Prix on a Bangkok street circuit starting in 2028.
According to the government, hosting the race will significantly boost tourism, a vital component of Thailand’s economy.
Formula One currently features a packed schedule with 24 races globally, including four in the Asia-Pacific region, with the Singapore Grand Prix being the only one in Southeast Asia.
While Thailand has an FIA-accredited track in Buriram in the country’s northeast that hosts MotoGP events, the current proposal focuses on a street race in the capital.
