Icon Siam: Thailand's new economic miracle delights tourists!

Icon Siam: Thailand's new economic miracle delights tourists!

Iconsiam: A lighthouse project on the Chao Phraya

What a success story: Iconsiam has become Thailand's flagship project and has now been recognized as one of the three most influential retail projects of the last 30 years at the MAPIC Awards 2025 in France. Led by Chada Thip Jootrakul, CEO of Siam Piwat Group, the Landmarks project stands out not only for its impressive architecture, but also for its global standards and the combination of Thai identity with modern innovations. “Iconsiam combines the best of Thai culture and international flair,” says Jootrakul, who herself won the Pioneers of Places Award and thus stands out as an inspiration in the real estate industry.

With an investment of around 60 billion baht and a total area of ​​more than 750,000 m², Iconsiam has magnificently transformed the Thonburi side of the Chao Phraya River in the seven years since it opened in 2016. Official statistics show that over 115 million international tourists visited attractions such as the large shopping center and the 7 Wonders of Iconsiam, providing a major boost to the local economy.

Economic stimulus and job opportunities

The impact of the project is impressive: the property value in the area has increased from 250,000 to 700,000 baht per square meter and over 400,000 new jobs have been created. Thanks to the thriving business on the river, which has grown by over 60%, smaller local businesses are also feeling the boost. Tourism, which accounted for about 18.29% of Thailand's GDP before the pandemic, has had a very positive impact on the country's economic development with a recovery.

In addition to building attractive shopping and residential options, the Iconsiam team plans to introduce over 51 new brands in the next six months with an investment volume of more than 1.5 billion baht. These steps highlight the importance of boosting retail and hospitality to support the local community in the long term.

Sustainable tourism and consumer trends

As we all know, Thailand is a dream destination for tourists, and its impressive natural beauties and rich cultural heritage attract millions of visitors every year. The tourism sector plays a key role in the country's economic stability. According to recent reports, the sector has already returned to contributing 7.24% to GDP after the pandemic-related setback.

However, the tourism sector also presents challenges, from environmental issues to seasonal fluctuations. It is now up to us to promote sustainable practices to not only protect the natural environment, but also secure the economic space for future generations. Investing in infrastructure and engaging local communities are also important steps on this journey.

With vision and innovative spirit

Exemplifying successes in the tourism sector, Iconsiam is the showcase for the role retail plays in creating a welcoming environment for international and local visitors. Over 53 international awards, including the prestigious World Retail Awards and MIPIM Asia Awards, have already documented Iconsiam's extraordinary potential.

The monster project continues to develop. A new investment project with a volume of over 10 billion baht will be announced at the end of January 2024. This is a clear sign of the optimism that Narin Chada Thip Jootrakul has for the Thai economy despite the challenges of 2023.

Overall, it shows that Iconsiam is not only a place for shopping, but also serves as a driver for economic growth and a role model for sustainable tourism in Thailand. Is this a good example for other projects? Definitely. Thailand has the right vision and minds to boost global tourism while creating positive impacts for everyone involved.

Cheers to Iconsiam's success and Thai hospitality!

Visit the articles about Iconsiam's services: Today, Thairath, Market Research Thailand.