20-5-2024 (BANGKOK) Thailand’s Prime Minister Srettha Thavisin is accelerating efforts to put the Southeast Asian nation on the Formula 1 calendar, seizing his official visit to Italy to engage the sport’s supremos about staging a race in Bangkok as early as 2027.
In a Facebook post from the famed Autodromo Enzo e Dino Ferrari circuit in Imola near Bologna, Srettha revealed holding talks with the CEO of the Formula 1 Group, the commercial rights holder of motorsport’s glamour championship.
“I believe Thailand has the opportunity to host an F1 race in 2027 or 2028 in Bangkok to attract both investors and tourists,” the premier wrote, adding that a feasibility study is currently underway to evaluate bringing the global spectacle to the Thai capital.
Srettha’s motor-racing diplomacy offensive underscores his government’s determination to elevate Thailand’s profile by joining the exclusive club of two dozen countries that have hosted Formula 1 grands prix over the past decade.
Beyond prestige, luring Formula 1’s meticulously choreographed circus of stellar drivers, state-of-the-art race machinery and legions of global audiences could provide a turbo-charged boost to Bangkok’s ambitions as an Asian hub for sports, entertainment and tourism.
Tourism authorities will be eyeing the potential windfall from an estimated 300,000 travelling spectators that marquee races like Singapore’s night grand prix attract annually.
The Prime Minister is clearly keen to maximize his Italian sojourn’s publicity mileage, making a point to meet Thai-British rising star Alexander Albon from the Williams Racing team.
“I’m proud of Alex Albon’s abilities as a top driver and hope he will inspire Thai youth who dream of racing careers,” Srettha wrote of the 27-year-old whose father is a British man of Thai descent.
Italy itself is intimately entwined with Formula 1’s heritage, home to the iconic Autodromo Nazionale Monza circuit that hosted the world’s first post-war grand prix in 1950.
Italian industrial titans like Ferrari, Alfa Romeo and Iveco sponsor teams and supply engines, reflecting the deep passion Italians have for motorsport stretching back over a century.
Thailand’s audacious bid would see it following in the tyre tracks of regional rivals like Singapore, Malaysia and soon-to-return Vietnam in joining F1’s rapidly expanding footprint across Asia.
However, securing a coveted annual slot on F1’s tightly scheduled 24-race calendar will likely prove an uphill struggle given the costs involved – Singapore forked out over $100 million just for hosting rights in a seven-year deal expiring in 2028.
In line with the Thai Government’s intention to bring F1 racing to Thailand in the near future, I visited the Autodromo Enzo e Dino Ferrari and had a discussion with executives of the Formula One Group. This resonates with our policy to place Thailand on the global radar for… pic.twitter.com/yhIhgAhcoA
— Srettha Thavisin (@Thavisin) May 19, 2024
Stringent F1 standards for cutting-edge circuit infrastructure and amenities could necessitate splurging on a new $1 billion facility to meet the lofty bar set by recent additions like Miami’s palm-fringed street circuit.
Still, Srettha will be hoping his personal audience with F1’s powerbrokers can get Thailand’s motorsport drive off the starting grid towards an eventual chequered flag in Bangkok.
The high-octane overtures cap a wide-ranging Italian visit where the premier has engaged counterparts on economic cooperation, cultural ties and global issues like the Ukraine crisis and Myanmar’s turmoil.
For Srettha himself, the chance to rub shoulders with racing elite might have allowed a glimpse into a vibrant world far removed from the stuffy corridors of the government he leads back in Bangkok.
