With F1 satisfied that its three races in the United States are enough for that market, attention has shifted to other regions to capture a growing worldwide interest in grand prix racing.

Speaking at an F1 in Depth event in Monaco on Thursday night, which was co-hosted by Autosport Business, Maffei said that the successful return of the Chinese Grand Prix showed what was possible.

“We’re lucky that we were able to get a Chinese race this year after four years,” he said. “It was very successful. The interest in China has exploded in part because we now have a Chinese driver.

“Critically, you see cultural identity so much when you have drivers from a country, and when you have teams from a country. And so that’s been great to see the growth in China.

“But there’s a lot of interest across Asia, as we have interest from many cities. But in Asia, as you rightly point out: Thailand, Seoul, and we’ve had interest from Indonesia. There are lots of places which want a Formula 1 race.

“We have really looked at the intersection of where our fans are, where they could be, who could run a great race, and who can frankly afford a race — and all those sorts of intersections of those three circles.

“I think you could very easily see a second one in Southeast Asia [alongside China].”

Sebastian Vettel, Red Bull Racing RB9 leads at the start of the race

Photo by: Patrik Lundin / Motorsport Images

Thailand’s prime minister visited last weekend’s Emilia Grand Prix as he pushes for a street race in Bangkok from either 2026 or 2027.

Vegas lessons

Maffei was joined at the F1 in Depth event by leading representatives of the Las Vegas Grand Prix and explained how F1 had come to understand better what fans wanted through its decision to become the race promoter of the event.

“We’ve really changed the sport in many ways,” he said. “One of them is this really was a B2B business where we really just dropped the product on the local promoter and they sold it. But more and more, between things like F1TV and promotions that we have been doing ourselves like Las Vegas, we understand the fans better. We’re a direct-to-consumer business and we understand their needs.

“That allows us to have better learnings and meet their needs better over time, including in Las Vegas. So I’m excited for what we can do together there. I think it’s going to be a great spectacle. And I hope it remains as thrilling a race as it was year one.»

And off the back of what turned out to be a successful inaugural Las Vegas grand prix last season, despite problems on the opening day when a drain cover came loose, Maffei said he expected this year’s event to be even better.

Asked what his hopes for the second Las Vegas Grand Prix were, Maffei said: “I hope we can get a race nearly as good, or even better. I hope we have no track failures early — that would be nice! That was a heartache too early.

“I think our dry run went very well, and we can only hope that the spectacle is as good. I expect we will learn to optimise and do things more efficiently because in some cases we move so quickly.

Esteban Ocon, Alpine A523

Photo by: Andy Hone / Motorsport Images

“I really credit the team at LVGP and our partners in how quickly we moved to get that up. To get that race from literally zero in 15 months is amazing.

“I think we’ll be smarter next time. And we’ll be more efficient and that will probably be less disruptive to the community.»

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Monaco is considered home for almost half of the 20 drivers on the current F1 grid as well as Mercedes team boss Toto Wolff but there are more reasons than just the huge tax-free benefits that draw them there.

One of the world’s smallest nations, Monaco has a total area of just over two square kilometres – barely bigger than London’s Hyde Park. However, it is jam-packed with buildings and home to a population of almost 40,000, a quarter of which were born there – Charles Leclerc being one of them – and a third being millionaires.

Despite its size, it actually has quite a few different districts, each of which has its unique style. Monte Carlo is the best known, but others include La Moneghetti, Condamine, Fontvieille, Larvotto and Monaco-Ville, and an average property in some of these areas can cost twice the price of those in London’s exclusive Mayfair.

Currently out of 20 F1 drivers, there are nine Monaco residents – Leclerc, Max Verstappen, Lewis Hamilton, Lando Norris, Nico Hulkenberg, Daniel Ricciardo, Valtteri Bottas, Alex Albon and George Russell, who joined them last year. The exact locations of their homes are top secret, but occasionally fans do get a glimpse into their day-to-day lives – such as Lando Norris in his iconic Fiat 500 Jolly or more recently Charles Leclerc walking the streets with his new puppy Leo.

There are also many ex-drivers in residence including Nico Rosberg, who spent most of his childhood there; David Coulthard, who has been a resident since 1995 and used to own the Columbus Hotel until 2020; Jenson Button; Mika Hakkinen; Riccardo Patrese; Stoffel Vandoorne; Daniil Kvyat; Antonio Giovinazzi; and Paul di Resta.

So, what is the appeal of living in Monaco?

Fitness

Many drivers have their own home exercise rooms, but there are enough private gyms around the city to ensure they are not working out alongside another F1 driver. Leclerc, for example, makes daily visits to his local health club.

Carlos Sainz, Ferrari SF-23, Lewis Hamilton, Mercedes F1 W14, Charles Leclerc, Ferrari SF-23

Photo by: Glenn Dunbar / Motorsport Images

However, it is the great climate coupled with the superb countryside nearby that takes training up another level, with many drivers regularly cycling or running on the winding paths or roads through the hills or along the coast.

There are plenty of spas for relaxation too, and several drivers follow the practice of cryotherapy, where extreme cold is used to freeze and remove abnormal tissue. Leclerc, for example, pays regular visits to the Thermes Marins Monaco for that.

Lifestyle

The residential properties may be expensive, but an F1 driver’s salary affords places that are opulent and luxurious, most coming with stunning sea views over the harbour, making it the perfect place to hang out between races.

There was a time when rivalry on track meant friendship off it was impossible to build, but many of the current drivers do actually get on – so living so close to each other can make for a more sociable life when they are not on the road.

Dining out in the town – if you have a full wallet – is supreme, with a huge selection of Michelin-starred restaurants including Le Louis XV – Alain Ducasse a l’Hotel de Paris, La Table d’Antonio Salvatore au Rampoldi and Pavyllon Monte-Carlo.

Many drivers also spend time on the Mediterranean Sea, with plenty of small bays to go jet skiing and not one but two full harbours of yachts – Leclerc has his own and spends many days travelling around the 3.8km of coastline and beyond.

In the mountains behind the city, meanwhile, those roads that are great for cycling are also the perfect place to drive – and Verstappen, for one, is believed to have a collection of exclusive supercars, including a £2m Aston Martin Valkyrie.

Privacy and security

Esteban Ocon, Alpine F1 Team signs an autograph

Photo by: Simon Galloway / Motorsport Images

It may sound strange, but Monaco actually offers F1 drivers a bit of normality! The unique privacy laws and severe restrictions on professional photography – for which express written permission must be received from the government – allow them to move around without being hassled.

Security is high too – in fact, Monaco is often cited as one of the world’s safest countries. The ratio of police to population is said to be seven times higher than in the UK and there are CCTV cameras everywhere, covering people’s every move.

Logistics

The location of the Principality is ideal for the frequent traveller lifestyle of an F1 driver, being around 15 miles from Nice airport – which has an extensive private plane network. There is a heliport that can take them there in seven minutes.

And when F1 comes to town every year, of course, the drivers who live there can enjoy the unique experience of being able to go back to their own apartments for the night and enjoy some home comforts during the race weekend.

MoneyGram Haas F1 Team driver Hulkenberg, spoke about the benefits of this, saying: «It’s a nice change up to the normal routine. It feels a bit strange to go home every night and between sessions, but it puts me at ease.»

Climate

The weather is great all year round – mild and sunny in winter and hot but pleasant in the summer, with plenty of places to cool down in air-conditioned apartments, private pools or the crystal-clear waters of the Mediterranean Sea.

The area has its own microclimate with an average of more than 300 days of sunshine each year and in the winter, it rarely goes lower than 10 degrees Celsius, while summer temperatures hover around a pleasant 30 degrees.

Tax haven

We have, of course, saved the real benefit until last. All the other elements make for a great lifestyle but most of these can be enjoyed in many other places too. The one truly rare thing about living in Monaco is the financial perks it offers.

The Red Bull Energy Station in the harbour

Photo by: Simon Galloway / Motorsport Images

Anyone moving in must have financial liquidity of half a million pounds just to apply for a property, and to receive the tax benefits you have to actually reside there for six months and one day of every year.

With from those caveats, and the added condition that French nationals do not receive the tax advantages, the government does not charge any income tax at all, nor does it charge any wealth tax, local tax, property tax or capital gains tax

When Norris moved there, he said he did so for «the reasons you probably expect» and explained: «It’s something that obviously a lot of drivers go to do, and especially with how racing is – you’ve seen it with a lot of the drivers, how quickly things can also go downhill.»

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