The green light has been given for a major international racing event to come to the city. For five years, starting from 2028 to 2032, the streets of Bangkok will be transformed into a racing circuit, hosting a world-class competition that’s expected to draw in huge crowds. The event will take place over three days, with Friday reserved for testing, Saturday for qualifying, and Sunday for the actual race.
This massive undertaking is the result of a meeting that took place on April 23, 2024, where the relevant authorities were tasked with exploring the possibility of hosting such an event. The budget for this venture is substantial, totaling $41,397.67 million, which includes the cost of designing the track on an expedited basis, amounting to $218 million.
The racing circuit will be set up in the vicinity of the Chatuchak area, covering several key locations, including:
- Bangkok’s central railway station, covering an area of 800 acres
- Morchit 2 bus terminal, spanning 100 acres
- The area surrounding the famous Chatuchak weekend market, which covers 240 acres
- Queen Sirikit Park, which encompasses 163 acres
- Additionally, areas belonging to the state oil company and the railway authority, totaling approximately 2,000 acres
The government anticipates that this event will attract a significant number of spectators, with an estimated 99,875 attendees per day, resulting in a total of 299,625 visitors over the course of the three-day event. This is expected to have a considerable impact on the local economy, with projected annual expenditures of around $16,000 million.
The benefits of hosting this event are multifaceted, with expected outcomes including:
- An average economic value addition of $14,000 million per year
- An average annual tax revenue of $1,400 million
- An average annual investment of $7,000 million
- The creation of approximately 8,000 new job opportunities per year
Moreover, this event is likely to have a positive impact on urban development, leading to improvements in infrastructure, public transportation systems, and digital technologies, ultimately enhancing the quality of life for citizens. It will also provide opportunities for career advancement, both for general workers and skilled professionals, such as racing engineers.
The event is also expected to promote STEM education among youngsters, while showcasing Thai culture through art, cuisine, and local traditions. This will not only enhance the country’s image but also provide citizens with a chance to participate in a global spectacle.
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