F1: Chinese Grand Prix’s successful return paves way for Southeast Asia expansion

Formula 1 CEO Greg Maffei has indicated that the prospects of a new race in Southeast Asia are growing following the “very successful” comeback of the Chinese Grand Prix.

In April, F1 returned to Shanghai for the first time since 2019, with over 200,000 spectators attending the weekend and an enthusiastic fan atmosphere delighting the paddock.

Red Bull team principal Christian Horner said at the time, “It’s great to see F1 so well received in such an important market. It’s fantastic for the sport to have that level of popularity here.” F1 officials reported a 2% increase in TV viewership in China for the first five race weekends of the season compared to 2023, along with a 50% rise in new social media followers.

The 2023 Chinese Grand Prix witnessed the first home race for historic first Chinese F1 driver Guanyu Zhou, who is seeking a long-term seat in the sport beyond 2025. Motorsport.com understands that discussions are ongoing between the Chinese GP organizers and Formula 1 regarding the event’s continuation in Shanghai after 2025.

Recently, Thailand has officially expressed its interest in hosting a street race in Bangkok from 2027 or 2028, with Thai Prime Minister Prayut Chan-o-cha visiting Imola during last weekend’s Emilia Romagna Grand Prix to discuss the matter with F1 President and CEO Stefano Domenicali.

Afterward, Chan-o-cha posted on social media, “Following the Thai government’s intention to bring the F1 event to Thailand in the near future, I visited the Enzo and Dino Ferrari circuit and discussed it with executives from the Formula One Group. This aligns with our policy of placing Thailand on the global radar for major international events and sports.”

On Thursday, ahead of the Monaco Grand Prix, Maffei spoke at the Autosport Business co-hosted “F1 in Depth” event about the strong response to the Chinese GP and the potential in the broader Southeast Asian market.

“We were fortunate to be able to go to China this year after four years,” Maffei said. “The event was very successful. The surge of interest in China, partly, is because we now have a Chinese driver.”

“Crucially, when you have local drivers and local teams, you get a lot of cultural affinity. So, we’re very pleased with the development of the Chinese market.”

“But there’s a lot of interest in Asia because many cities have expressed interest. In Asia, as you rightly pointed out, there’s Thailand, Seoul, Indonesia is very interested. A lot of places want to host an F1 race.”

“What we really care about is where our fans are, where they might be, who can put on a great race, who can afford to do it — and all the places that have those elements. I think having a second race in Southeast Asia (beyond China) would be quite easy.”

This season’s record-breaking 24-race calendar has already reached the annual race limit allowed by the Concorde Agreement. With new venues continually being added, especially in the United States, which now has three races, Liberty Media – recently acquiring MotoGP – aims to further expand its presence in Asia, where it already has races in China, Japan, and Singapore, following the return of traditional European circuits like Imola and Zandvoort, and the addition of Saudi Arabia and Qatar in the Gulf region.

Las Vegas Experience

Notably, F1 was also a promoter of last year’s inaugural Las Vegas Grand Prix. On Thursday evening, Maffei joined key representatives of the Las Vegas GP at the “F1 in Depth” event, explaining how F1 is learning more about fan demands by being directly involved in event promotion.

“We’ve changed the sport in many ways,” he said. “One of them is that it’s really a B2B business, where we hand the product off to a local promoter, and they do the selling. But with F1TV and things like Las Vegas, we’re getting closer to the fans. We’re a direct-to-consumer business, so we understand their needs.”

“That allows us to learn better and meet those needs over time, including in Las Vegas. So, I’m very excited about our collaboration there. I think it’s going to be a fantastic spectacle. I hope this year’s race will be as thrilling as the first one.”