The Thai government has officially sanctioned a budget of $1.2 billion to host a Grand Prix in the capital city of Bangkok. With several Grand Prix venues reporting a significant economic impact through Formula One,

Thailand's cabinet has approved a bid to host a Formula 1 street race in Bangkok as early as 2028, officials said on Tuesday.

Thailand’s place on the Formula 1 calendar inched a little closer after the country’s cabinet approved a $1.2billion bid to host a street race in the Thai capital from 2028