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Thai malls bet $5bn on post-election tourism boom

Siam Piwat and The Mall Group bet they can convert new visitors into big spenders

The Iconsiam shopping mall in Bangkok. (Photo by Akira Kodaka)

BANGKOK -- Two of Thailand's biggest retailers, Siam Piwat and The Mall Group, have unveiled multiyear plans totaling around 150 billion baht ($4.7 billion) in investments ahead of general elections on Sunday.

Both groups have earmarked funds to build new malls, seeking in part to capture demand from inbound tourists, a bright spot in the economy.

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