A GLOBAL SHOWCASE
Thailand is looking for options for commerce and business based on big sporting events. The F1 bet would be a wheel in the government’s Burn Thailand battle, an effort to make the country a global hub for commerce, facilities, events and culture.
However, it wouldn’t be the first time the country has entered significant sports hospitality, which is emerging as a crucial component of its development strategy.
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.
According to the tourism specialist, Buriram, in the south of the nation, hosts an annual MotoGP bike race, which generated US$ 140 million in economic activity in 2024 and created near to 7, 000 job positions there.
F1 carries fame that these other activities cannot fit, according to Matthew Marsh, a Singapore-based racing and marketing expert at EDJ Motorsport.
He said that holding a Grand Prix gives a city or country the opportunity to demonstrate itself on a global stage alongside others in a classy club.
It offers the same level of international coverage as the FIFA World Cup or the Olympics, but for less money and with the benefit of being held annually rather than just once.
TAT’s lieutenant governor for selling communications, Nithee Seeprae, told CNA that sports hospitality allows it to targeted visitors with “higher spending patterns” and make “multiplier effects” by attracting both tourists and foreign investment and spending from business partners.
” The F1 race corresponds with the government’s broader commerce activities, to increase year-round journey and highlight Thailand’s historical 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 seems favorable for attracting F1 to Thailand. Following the takeover by Liberty Media in 2017 and the exploding acclaim of the Netflix series” Drive to Survive,” which chronicles each racing season and its drivers, it has reached new heights in the sport.
” F1 has evolved from a domestic motorsports 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 also grown in popularity among younger, more gender-balanced viewers.
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.  ,
A return to a traditional and previously used track like Sepang in Malaysia, for example, could prove exciting due to the combination of shifting demographics and the allure of a new circuit in a vibrant city like Bangkok, according to Marsh.
” A race in Thailand would be completely different from anything previously seen on the F1 calendar. He claimed that it would be a destination event for existing fans and that it would help draw in new ones from Southeast Asia.