Shanghai. China. Credit — Wiki Commons Amado Claro

Accelerating Eastward: Formula One’s Ambitious Drive to Captivate Asia’s Racing Fans

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Formula One Forever

5 min readJul 12, 2023

Revving up its engines under the ownership of Liberty Media, Formula One has been making impressive strides in North America and the Middle East. However, as the sport aims to expand its presence in Asia, it faces significant challenges in countries like China, India, and Japan.

With no races in China since 2019 and India’s absence from the calendar, Formula One is eager to tap into the vast potential of Asian markets. Liberty Media has added races in Qatar and Saudi Arabia, and it will soon venture into Las Vegas, marking its entry into the critical US market.

Despite its deep-rooted history in Asia, Formula One has struggled to replicate its success in the region.

The Asia Puzzle

Asia’s motorsport legacy boasts iconic venues like Japan’s Suzuka track, which witnessed legendary battles between Alain Prost and Ayrton Senna in the 1980s. China joined the Formula One calendar in 2004, and Singapore became a night race spectacle in 2008.

However, the number of races in Asia has dwindled over the years. Currently, there are only two races in Asia, excluding China, which has been off-limits since 2019 due to the pandemic. South Korea and India, once part of the Formula One circuit, have also been absent in recent years.

Liberty Media’s attempts to bring new races to Asia have faced setbacks. The proposed race in Hanoi, Vietnam, never materialized, dampening initial aspirations. However, the allure of Asia for marketers and sponsors remains unparalleled.

With the combined reach of China and India, potentially billions of people can be reached, making it a crucial market for Formula One’s growth. The hope is that China will return to the calendar soon, and it would be a surprise if India does not make a comeback in the near future.

The most recent Grand Prix to take place in China was in Shanghai in 2019. Credit — Charles Coates/Getty Images

Asia remains a top priority for Formula One, evident in the presence of three Asian heritage drivers on the grid. The emergence of a new generation of drivers like Alex Albon, Yuki Tsunoda, and Zhou Guanyu adds excitement and diversity to the sport.

In China, more than a third of fans started following Formula One in the past four years, with a majority under the age of 35. This demographic is highly sought after by commercial partners, who recognize the significant brand credibility that Formula One partnerships bring.

Brands like Castore, through their associations with Red Bull and McLaren, have experienced transformative effects on brand awareness in Asia.

China is not only important for sponsors but also crucial for automakers participating in Formula One. As the world’s largest car market, defending market share in China is paramount for these manufacturers. Industry leaders like Mercedes-Benz and Volkswagen acknowledge the risks associated with severing ties with China and are investing in the market accordingly.

Making A Comeback

Formula One is actively planning its return to Shanghai in the near future, and South Korea is being considered as a potential venue for a new Grand Prix. The recent races in Japan and Singapore, after the pandemic-induced hiatus, witnessed a surge in attendance, surpassing 2019 levels and highlighting the enthusiasm of fans in the region.

The Singapore Grand Prix, in particular, has proven to be economically beneficial for the host country, generating increased tourism spending and acting as a focal point for business conferences.

Broadcasting agreements with Asian networks like DAZN and beIN Sports ensure that Formula One reaches a wide audience in the region. Formula One’s European races, held on Sunday evenings, have become a sweet spot for viewership in Asia, with families gathering to enjoy the excitement.

The sport plans to leverage regional commercial partnerships and employ innovative technology to tailor live broadcasts to different markets, maximizing its revenue potential.

Final Thoughts

While there are challenges to overcome, Formula One remains committed to establishing a stronger foothold in Asia. The sport understands the need for a long-term strategy and the importance of patience in achieving its goals.

With its global appeal and captivating races, Formula One presents a remarkable opportunity for nations to showcase themselves and for fans across Asia to engage with the pinnacle of motorsport. As the sport continues to navigate its path forward, the race to captivate billions of fans in Asia is well underway.

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