MotoGP revs in the revenue for Buriram

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BURIRAM, 9 October 2018: Buriram is now on the world’s sporting map following the successful hosting of the first ever  “Moto GP” in Thailand last weekend.

Commenting on the event Thailand’s Ministry of Tourism and Sports’ permanent secretary, Pongpanu Svetarundra,  a post-event press briefing that Buriram was officially “a sport-oriented city”.

Buriram’s race circuit was the scene of the World Motorcycle Championship Moto GP, or the 15th PTT Thailand Grand Prix 2018 that came to a close 7 October.

It’s the first time that Thailand has hosted a world series event for motor sports.

According to a preliminary survey conducted for the Ministry of Tourism and Sports, over the three days the Moto GP event attracted 205,000 spectators, comprising about 153,750 Thai nationals or 75% of all participants.

Of the local count, 10,250 residents were from Buriram province in northeast Thailand, or about 6,2%, while about 51,250 were foreigners, representing 25% of the gross ticket sites. Most of them were foreign nationals from Australia, Switzerland and the UK.

The Moto GP generated revenue of approximately THB3,100 million. Most of the revenue benefited northeast provinces (Buriram, Khon Kaen and Surin) to the tune of around THB2,470 million.

The big spend was on transportation estimated at THB764 million, accounting for 24.70%. Food and beverage spend reached THB679 million, or 21.90%. Spending on accommodation reached THB642 million, or 20.70% of the total.

Purchases of goods and souvenirs was estimated at THB517 million, representing 16.70%. Spending on entertainment reached THB146 million or 4.70%.

The permanent secretary said he was convinced the Moto GP race had a positive impact on the economy.

“The gross domestic product indirectly was approximately THB1,701 million,” he said, claiming it sustained  7,749 workers in tourism or related industries.“Direct government revenue and tax was approximately TH329 million. In addition, Thailand has been elevated to one of the destinations worldwide that host a race in the prestigious motorcycle race series.”

TV exposure of the event was estimated at 800 million viewers worldwide.

The Ministry of Tourism and Sports will work with the Buriram Provincial Statistical Office to conduct an overview of this competition’s economic value for the province. Thailand committed to hosting a race in the annual world series for three years.

2 COMMENTS

  1. Reference to this quick estimate and evaluation, there must be high income and profit for the organizer and management team. There is no need for the government to spend the national budget to support the next event. There must be more big sponsors. We must wait and see the official evaluation of this event again.

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