Thailand's Cabinet has approved a $1.23 billion bid to host Formula 1 street races in Bangkok from 2028 to 2032, with government spokesperson Jirayu Houngsub announcing the initial plan would cover five events over this period during a news conference.
The proposed track would be a 3.54-mile (5.7-kilometer) street circuit located between the Krung Thep Aphiwat Central Terminal Station and Chatuchak Park in an area to the north of Bangkok's city center.
Thai Prime Minister Paetongtarn Shinawatra attended the Monaco Grand Prix last month in the latest of a series of meetings with Formula 1 CEO Stefano Domenicali about the proposal, while Tourism Minister Sorawong Thienthong confirmed the bid's value and emphasized involvement from key agencies including the Tourism Authority and Bangkok Metropolitan Administration.
The project is expected to boost tourism, create jobs, attract investment, and elevate Thailand's global image, with each event spanning three days covering practice sessions, qualifying, and race day.
Several existing Formula 1 race contracts are due to expire before Thailand's proposed 2028 entry, including the Dutch Grand Prix after 2026 and Barcelona's uncertain future following Madrid's addition to the calendar, while Belgium's Spa-Francorchamps becomes a biennial event from 2027 onwards.
