News Forum - Thailand eyes F1 event to boost economy and tourism

[Thaiger]

Thailand is gearing up for an economic boost as the government commits to bringing a Formula 1 (F1) racing event to the country. Prime Minister Paetongtarn Shinawatra announced the ambitious plan yesterday, November 9, emphasising its potential to invigorate tourism and stimulate urban development. The government is actively pursuing discussions to secure an F1 event, … …

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[AussieBob]

Stick to the MotoGP - the crowds in Thailand are not interested in ridiculous cars racing - they love the bikes. Never going to an event here myself - they heat is horrendous and being stuck in a stand with thousands of people in 34+ degree heat and next to a track that is 40+ degrees, is not fun - it is for locals only.  For those who have never been to an F1 race, those cars give off way more heat than the bikes and the track is just as hot.  I am told that the Malaysian events keeps the stands cooler somehow - fans and aircon? 

Watch MotoGP in Thailand from an air-con booth?  Not available to public - the wealthy Thais have locked that down for themselves. If the F1 ever did come here, it would be the same.

[Pinetree]

Not even Silverstone makes a profit from a F1 race weekend.  Value, if there is any,  comes in marketing, international visibility and some limited local economic impact. Malaysia, Turkey , S Korea and India all proved expensive and uneconomic. Los Vegas won't last for the self same reasons.  Even London didn't fall for the hype. A bad idea altogether. 

[AussieBob]

20 hours ago, Pinetree said:

Not even Silverstone makes a profit from a F1 race weekend.  Value, if there is any,  comes in marketing, international visibility and some limited local economic impact. Malaysia, Turkey , S Korea and India all proved expensive and uneconomic. Los Vegas won't last for the self same reasons.  Even London didn't fall for the hype. A bad idea altogether. 

Australia learned that too - it is an event for the wealthy elite and loses money. Saw an article a year or so ago that said it has cost the Vic Govt 500million dollars over 10 years. The same sort of BS marketing that TAT claims is used as justification for it directly costing a lot more than it generates directly - estimated increase in money into the local economy from interstate and overseas visitors and all that unquantifiable and unproveable BS.