Thailand's Ambitious Bid to Host 2028 Formula One Street Race

Thailand is aiming to join the global Formula One circuit with an ambitious $1.2 billion bid to host a street race in Bangkok by 2028. Government officials announced the plan to hold annual races from 2028 to 2032, marking the country's entry into a world-class sporting event.

The effort, spearheaded by the tourism minister, underscores the economic benefits expected from increased tourism, a vital part of Thailand's economy. Prime Minister Paetongtarn Shinawatra has already taken steps, including meeting Formula One's chief executive to discuss the feasibility of such an event.

The proposed race would join an already packed global calendar, competing with 24 races worldwide, including the Singapore Grand Prix. However, unlike Thailand's existing FIA-accredited track in Buriram, this event would see the action unfold on Bangkok's streets.

(With inputs from agencies.)