Things are looking likely to heat up on the Formula 1 front in the region. Singapore has already announced that the Singapore Grand Prix is set to remain on the F1 calendar with the signing of a five-year extension deal which will keep the night race running until 2017.

On top of that, there’s now news that Thailand is close to securing an F1 spot beginning from the 2014 season, and it too is planning to run a night race.

According to the Bangkok Post, Sports Authority of Thailand governor Kanokphand Chulakasem met Bernie Ecclestone during the Singapore GP, and the paper reports that it was agreed “in principle” that Thailand would host the race, which will be a city-based race, set for night.

Other reports state that Thailand’s tourism and sports minister Chumpol Silpa-archa said that talks were already at an advanced stage. “It’s unlikely we’ll have any problem,” he was quoted as saying, adding that discussions with the FIA were more than halfway through. He said that the government would fund 60% of the total cost, with the remainder coming from private companies.

Singapore says that its GP has attracted more than 150,000 international visitors over the last four years, with average tourism spending amounting to S$140-150 million (RM348-RM373 million) yearly during the event. Undoubtedly, Thailand is looking at raking in the bahts and of course having more people visit The Land of Smiles.