A GLOBAL SHOWCASE
Thailand is eyeing the commercial and tourism opportunities presented by major sports events. The F1 bid would be a cog in the government’s Ignite Thailand campaign, an initiative to make the country a global hub for tourism, infrastructure, events and culture.
But it would not be the nation’s first foray into major sports tourism, which is emerging as a key strategy for growth.
This year, the Tourism Authority of Thailand (TAT) is promoting its “Amazing Thailand Grand Tourism and Sports Year”, which includes hosting the Wai Kru Muay Thai Ceremony in March, the FIVB Volleyball Women’s World Championships, the Bangkok Marathon and SEA Games.
It also hosts an annual MotoGP motorcycle race in Buriram in the east of the country, which generated US$140 million in economic circulation in 2024 and created close to 7,000 job positions at the circuit, according to the tourism authority.
F1 carries prestige that these other events cannot match, according to Matthew Marsh, a Singapore-based motorsport and marketing specialist at EDJ Motorsport.
“Hosting a Grand Prix allows a city or country to showcase itself on a world stage, alongside others in an exclusive club,” he said.
“It offers the kind of international exposure provided by the Olympics or FIFA World Cup but at a fraction of the cost and with the added advantage of being repeated annually rather than a one-off.”
TAT’s deputy governor for marketing communications, Nithee Seeprae, told CNA that sports tourism allows it to target visitors with “higher spending patterns” and create “multiplier effects” by attracting both tourists and international investment and spending from commercial partners.
“The F1 race aligns with the nation’s broader tourism campaigns, to enhance year-round travel and highlight Thailand’s cultural and geographical diversity,” he said.
“Such a high-profile event would amplify Thailand’s appeal to affluent global audiences, fostering economic benefits and international recognition.”
The timing to lure F1 to Thailand appears good. As a sport, it has grown to new heights in recent years, following the takeover by Liberty Media in 2017 and the burgeoning popularity of the Netflix Series “Drive to Survive”, which chronicles each racing season and its drivers.
“F1 has been transformed from an international motorsport series to a global entertainment and lifestyle platform. This shift makes Southeast Asia a more viable market for F1 expansion,” Marsh said.
He noted that the sport has become more popular among a younger and more gender-balanced audience too.
One-third of today’s F1 fans started following the sport in the last four years. Women now make up approximately 41 per cent of the fanbase, according to a report released by Nielsen Sports in December. “And 40 per cent of F1’s audience is now aged 16-34,” Marsh said.
In 2024, F1 reported a 27 per cent increase in social media following from Asia, contributing to a regional fan base of 386 million – just over half of the sport’s global total.
The combination of shifting demographics and the allure of a new circuit in a vibrant city like Bangkok could prove exciting, Marsh said, and raise the profile of the sport more globally than a return to a traditional and previously used track like Sepang in Malaysia, for example.
“A race in Thailand would be entirely different to anything seen before on the F1 calendar. It would be a destination event for existing fans and help attract new ones from Southeast Asia, he said.
