Siam Piwat budgets THB1 billion for 40 events in the last quarter of 2023

Group CEO Chadatip Chutrakul told a press conference on Wednesday that the campaign was aimed at boosting revenue by 20% quarter on quarter during the festive season.

She expected that the various activities to be staged at Siam Piwat's properties would become a magnet to attract tourists from around the world to Thailand, assisting the government in meeting its target of 30 million tourists this year.

She did not reveal details of the planned events, but said the group would announce them later along with its partners. She only mentioned the New Year’s countdown event.

This year's countdown event at Iconsiam — one of its own department stores — would be an extravaganza with a once-in-a-lifetime memorable ceremony, she promised.

The last-quarter event blitz is a part of its business strategy — known as the "4 Strategic Pillars" — in response to the government's tourism promotion policy, she said.

The pillars are: world-class shopping leadership and a leader in the luxury retail segment; world-class events and MICE leadership; leadership in elevating Thai art and establishing Bangkok as a global art hub; and, leadership in introducing Thailand's soft power to the global stage.

Chadatip Chutrakul

"Siam Piwat aims to be the country's top destination. We will win for Thailand," she said, implying that the group's five department stores — Siam Paragon, Siam Centre, Siam Discovery, Iconsiam, and Siam Premium Outlets — would entice high-end tourists worldwide to spend more and stay longer in the kingdom.

According to its own report, “the group has already brought 14 million tourists to the country in the first eight months of this year, a 46% increase over 2022”. The top five countries from where the visitors came were: China, Malaysia, South Korea, the Middle East, and Vietnam. They spent 8,500 baht per person per day on average.

Chadatip revealed that Siam Piwat had developed some projects that would be unveiled over the next three years, from 2024 to 2026, under the four strategic pillars.

The projects included the debut of 20 new luxury brands inside Siam Paragon, a new convention centre hall, the launch of River Museum on the eighth floor of Iconsiam in 2026, and the improvement of its retail business brand through Iconcraft, ODS, and Ecotopia, which have already successfully expanded business overseas in Japan and Malaysia.

All of these project details would be revealed at some point in the future, she said.

"Right now, I can say that Siam Piwat is in the process of negotiating and planning to take action,” she said.

“Siam Piwat is ready to join hands with all parties to promote the tourism and hospitality industry, establish Thailand’s position as the top global tourist destination, and support the government’s policy to bolster the tourism industry," she said.

With a new government in office and several measures being taken to boost the economy, including a free visa policy, Chadatip said she was confident that Thailand would emerge as a premier tourist destination on the world map.

Meanwhile, Siam Piwat intends to double its business budget next year to actively encourage Thailand's tourism in support of the government's policy, she said.