Saturday, December 10, 2005
Infotainment » Lifestyle
Bangkok opens shopping mall for Asian tourists
Agence France-Presse
Bangkok, December 9, 2005
An upscale mall claiming to be the largest in Southeast Asia opened its doors Friday, with everything from Big Macs to yachts on offer as Bangkok aims to beat out Singapore as a shopper's paradise.
The 15-billion-baht ($366-million) Siam Paragon, covering 500,000 square meters (5.3 million square feet), adds to a growing stretch of high-end retailers around Bangkok's Siam Center, already crowded with boutiques for the likes of Prada and Gucci.
"We want Siam Paragon to be a global tourist destination like Times Square in New York," Kriengsak Tantiphipop, chief marketing officer of Siam Paragon Development Co., told reporters.
"Siam Paragon is working with the customs department to turn the complex into a duty-free zone where consumers, both foreigners and locals, could receive tax refunds for any goods they purchase. The process will be complete within a few month," he said.
Tourism Authority of Thailand governor Juthamas Siriwan said the opening of Siam Paragon was a big boost for tourism, which accounts for six per cent of gross domestic product (GDP).
"It will definitely boost the economy as it encourages tourists to spend more money," the governor said, adding that shopping alone accounts for nearly 30 percent of Thailand's total tourism revenue.
Catering to tourists and affluent consumers with a monthly income of over 30,000 baht, the mall features an auto gallery for Ferrari, Lamborghini and Porsche, as well as luxury yachts.
Some 300 hi-fashion brands have boutiques, including French luxury brand Chanel and Italy's Dolce and Gabbana.
Its vast food court features popular international food chains including McDonalds as well as pricier fare from swank Bangkok restaurants.
The mall expects to receive more than 100,000 visitors a day, with sales projected at 10 billion baht in its first year.
In addition to the mall, the complex includes Siam Ocean World, an aquarium that includes 30,000 creatures from 400 species around the world.
Paragon also has an 1,800-seat opera house, a 15-screen cinema with seating for 5,500 people and a bowling alley.
Princess Maha Chakri Sirindhorn, the second daughter of Thailand's revered King Bhumibol Adulyadej, attended the opening ceremony along with over 1,000 VIP guests including ambassadors and local celebrities.
The opening of Siam Paragon is the latest in a series of developments in Bangkok aimed at attracting more Asian shopping tourists from rivals Singapore and Hong Kong, said Kriengsak.
© HT Media Ltd. 2005.