Thailand and Singapore to Drive Tourism Growth with Formula One and Major Sporting Events

During a meeting with Formula 1 chief Stefano Domenicali on March 18, Thai Prime Minister Paetongtarn Shinawatra discussed plans to host the country’s first Grand Prix on a Bangkok street circuit by 2028. If the proposal moves forward, the event is expected to boost Thailand’s tourism sector, drawing inspiration from a fellow ASEAN member, Singapore’s success.
Since its debut in 2008, the Singapore Grand Prix has attracted over 550,000 international visitors and generated approximately USD 2 billion in tourism revenue. Thailand has been leveraging sports to promote tourism, with sports designated as one of the key themes of the country’s 2025 tourism campaign, “Amazing Thailand Grand Tourism and Sports Year 2025.” Major sporting events, such as the Southeast Asian (SEA) Games, scheduled for December 9 to 20, 2025, are anticipated to bring further economic and tourism benefits.
Meanwhile, Singapore is set to host its first World Aquatics Championships and World Aquatics Masters Championships in July 2025. Considered second only to the Olympics in prestige within water sports, the event is projected to contribute up to USD 60 million in tourism revenue. Together with the annual Formula 1 Grand Prix, the championships are expected to further boost Singapore’s tourism sector, which is on track to exceed pre-pandemic tourism receipts in 2024.