Thailand’s cabinet approved a 41.4 billion Thai baht ($1.3 billion) proposal for Bangkok to host a Formula One race for at least five years starting in 2028. The race would likely occur in March or September, pending negotiations with Formula One Management and The Fédération Internationale de l’Automobile. The government estimates the event could attract 600,000 attendees in 2028, generating about 16 billion baht ($430 million) in annual tourism spending and creating 8,000 jobs. The proposed 5.7km circuit would run through central Bangkok. Prime Minister Paetongtarn Shinawatra met Formula One Management CEO Stefano Domenicali in March to discuss hosting possibilities, as Thailand aims to boost its image as a luxury tourism and international events destination.