Thailand Considers Hosting MotoGP and F1 to Boost the Economy

Thailand is currently in the process of deciding whether to extend the contract to continue hosting MotoGP, as the current agreement ends in 2026. If the extension happens, discussions must begin this year.

The Minister of Tourism and Sports, along with Prime Minister Paetongtarn, views the MotoGP event not just as a sporting event but primarily as an economic opportunity. It makes a significant amount of money within the country, with an investment of over 400 million baht, while the economic return is about 5 billion baht — ten times more than the initial investment. Furthermore, international tourists flock to see the event and often continue traveling to other parts of Thailand.

Over the past 7 years, if we look at the overall numbers including employment, tax revenue, and spending, the results have been worthwhile and continue to improve, especially after the COVID-19 pandemic. For example, there were 224,000 spectators at the MotoGP event in Buriram in just three days, almost equal to the number in 2019. This year, however, the economic value generated was 2 billion baht higher, thanks to tourists staying longer and spending more.

In terms of the event budget, the government currently covers half of the costs. For instance, last year, the total cost was 420 million baht, with the government contributing 200 million baht. The remaining funds must come from partners and the sports fund. However, if the government leaves the entire funding to the private sector, it would be impossible to organize the event.

As for Formula 1 (F1), the government is still studying the potential returns from hosting the event. Chulalongkorn University is working with international partners to conduct this study. Though there are no clear numbers yet like with MotoGP, it’s certain that F1 has a much higher cost. Therefore, decisions must be made carefully.

However, the Sports Authority of Thailand (SAT) believes that it’s not necessary to choose between the two events. If Thailand can host both MotoGP and F1 together, it could be beneficial for the country, as long as the benefits can be proven.

Regarding the F1 racing circuit, which has been rumored to be in Chonburi, Dr. Gongsak Yodmani said that it is not ready at the moment. However, there are several alternatives, and the track can either be upgraded or newly built. The government is ready to support the project, as budget is not an issue, but decisions must be made quickly, as other countries are also competing to host MotoGP. If Thailand delays, it might lose the opportunity.