The previous plan had been for Buri Ram to stage the coveted event from 2021-2025 but yesterday it was switched to 2022-2026 instead.
Traisuree Taisaranakul, deputy spokeswoman for Government House, said the licence to host the event for five years would still cost B900 million, a budget already approved by the cabinet.
She said Dorna Sports, the owner of the licence, reiterated the company’s commitment to the event, saying it would continue to boost Thailand’s image overseas and generate substantial income.
The Tourism and Sports Ministry reported that the 2018 event generated B3.05 billion and attracted 222,535 spectators and the 2019 race did even better, raising B3.45bn from 226,655 attendees.