The proposed Bangkok track, which aspires to host the race, has been revealed!
The race to hold a Formula 1 race has been intense in recent years, as the rapid growth and spread of the sport, through Drive to Survive on Netflix, F1: The Movie which was a huge box office success, but also through Social Media, bring obvious economic opportunities, which many countries are rushing to exploit, trying in every way to secure one of the 24 “magic places” of the annual program.
Countries on every continent have already prepared plans for races, with each having its own advantages or disadvantages, but the one that seems to have the lead for its inclusion in Formula 1 in the near future is Thailand! The Southeast Asian country has already held extensive talks with F1 chairman and CEO Stefano Domenicali, presenting an ambitious plan for a track in its capital, Bangkok.
The formal submission of a proposal to F1 for a five-year contract was already approved by the country’s government last June and includes the construction of a 5.7km track in the capital’s Chatuchak Park area, which will be 18 turns long, the Sports Authority of Thailand (SAT) revealed today.
National media have previously reported that the Thai government has already signed a memorandum of understanding with F1. The intention is for the race to be privately funded with government money as a reserve. The race will fit in with Thailand’s major investment in the tourism industry, which is key to the country’s economy, with a target of 300,000 visitors over the three-day race.
It is hoped that it will generate 14 billion baht in value per year (372 million euros), 1.4 billion in tax revenue (around 37 million euros), another 7 billion (186 million euros) in new investment – and around 8,000 new jobs per year – and will repay the public sector investment from the first year. A big “card” for the country and a huge supporter of this effort is obviously Alex Albon.
The British-Thai Williams driver has publicly stated that “They take it very seriously and I think they have something very strong as a product. I’ve seen what they’re trying to do with it and it looks good.” Thanks to him, the popularity of Formula 1 in the country is great, while the country already has a history and presence in the world of motorsports, thanks to Prince Bira who participated in Formula 1 from 1950 to 1954, while since 2018, the Buriram circuit has hosted the Thailand Grand Prix for MotoGP.
