Thailand eyes F1 street race to boost tourism and economy
High-speed dreams fuel national push for world-class racing event
Prime Minister Paetongtarn Shinawatra has indicated promising developments for Thailand as the government continues its pursuit to host a Formula 1 street circuit race in the country.
Yesterday, May 24, the PM engaged in discussions with Stefano Domenicali, CEO of Formula One Group, at the Monaco Grand Prix to assess the possibility of organising an F1 race in Thailand. This meeting occurred at 4.30pm local time (9.30pm Thai time) at the Monte Carlo circuit in Monaco, where she also toured the track and observed practice sessions.
Later, around 11.50pm Thai time, the PM posted on her X account, highlighting the meeting’s outcome with the Formula One Group as a significant advancement and positive news for Thailand. She emphasised that tourism is a vital component of the economy, and the government plans to diversify beyond seasonal tourism by investing in Man Made Destinations to host international events such as F1.
Hosting an F1 event in Thailand would involve substantial investments, including road improvements to support racing, the construction of grandstands and paddocks, and the installation of electronic and digital infrastructure. These developments would generate significant employment opportunities.
Paetongtarn briefed Domenicali on the progress made by Thai agencies in examining the conditions, limitations, and opportunities for hosting the race. Their discussions also encompassed site feasibility and potential collaborative efforts between F1 and the government.
During her visit to the Monaco circuit, the PM met with Thai drivers Alex Albon and Tanapol Inthrapuvasak, who expressed their enthusiasm to return to Thailand to promote the sport, enhance its visibility, and support aspiring Thai F1 drivers.
F1 race
In March, Domenicali visited Thailand, meeting with Paetongtarn, Deputy Prime Minister Suriya Jungrungreangkit, and Tourism and Sports Minister Sorawong Thienthong. This visit followed initial discussions initiated by Former Prime Minister Srettha Thavisin last year. Since then, both the government and F1 executives have explored potential locations, including land near U-Tapao Airport.
Domenicali noted that hosting an F1 race in Thailand would bring numerous opportunities and benefits, particularly in boosting the economy and tourism. He remarked on Thailand’s strong motorsport fan base and the potential to leverage the popularity of renowned drivers to promote related activities. He also suggested that F1 could enhance tourism by encouraging longer stays in Thailand.
The Formula One Group plans to work closely with the government to evaluate the project’s feasibility and create an unforgettable experience for motorsport enthusiasts worldwide.
Meanwhile, government spokesperson Jirayu Huangsap reported that over 13 million tourists visited Thailand between January and May 14, generating more than 600 billion baht (US$18 billion) in revenue. High spending has been observed among tourists from Europe and Russia, particularly in health and wellness tourism.
The government is optimistic that the total number of visitors will surpass 35 million by the year’s end, with the tourism sector already generating over 600 billion baht in the first four and a half months, reported Bangkok Post.
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