Bangkok (Thailand) – September 17, 2017 (travelindex.com) – Thailand's capital city is getting its first observation tower. The 459-meter-high tower will be the sixth tallest in the world and also the tallest observation tower in Southeast Asia.

The tower is being jointly built by two foundations, the Bangkok Observation Tower Foundation and the National Identity Foundation, following recent approval by the Thai cabinet for this new national landmark project. The total construction cost of approximately US$138 million is being financed by over 50 private sector organizations involved in the project.

The Bangkok Observation Tower is located on the banks of the Chao Phraya River on a 6,400 square meter plot of land owned by the Thai Ministry of Finance and leased to the Bangkok Observation Tower Foundation for 30 years. The foundation is obligated to transfer ownership of the tower and all other structures on the property to the Ministry of Finance upon completion of construction in 2019.

The tower was enthusiastically received by the Thai tourism sector, both as a much-needed addition to the country's tourist attractions and as a catalyst for investment and employment in the sector.

Mr. Ittirith Kinglake, President of the Tourism Council of Thailand, said: “The tower is the most important new attraction in Bangkok’s diverse tourism offerings and will attract visitors from all over the world. The Bangkok Observation Tower will help establish our city as one of the most important and exciting travel destinations in the world.” He pointed to parallels with the Tokyo Skytree and the Canton Tower in Shanghai, both of which are strong tourist magnets for their respective cities.

“In 2016, 32.6 million tourists visited Thailand, spending almost US$72 billion. Visitor numbers are expected to rise to 41.5 million by 2020. Tourism has always been one of our country’s most important sources of income, contributing 17.7% to GDP. The construction of the tower will significantly boost tourism in the country,” said Mr. Ittirith.

He added that tourism was also one of the country's largest employers, providing jobs for around 4.2 million people.

Commander Parinya Ruckwatin Rtn., Chairman of the Chao Phraya River Tourism Association, said: “The location of the Bangkok Observation Tower on the riverbank will rekindle interest in the river and accelerate efforts to make the river a clean, safe and natural corridor, lined with historically and culturally significant landmarks from all eras, serving as lasting testimonies to our nation’s efforts.”

“I am convinced that the construction of the tower will benefit businesses along the ten-kilometer stretch of river, including boat operators, restaurants, hotels, retailers, and convention organizers. We can also expect improvements to more than ten docks, making them safer and more user-friendly. This is a truly historic turning point for this section of the river. The Chao Phraya will become one of the world’s most exciting new destinations, offering a diverse range of experiences to meet the diverse needs of visitors,” he added.

Residents near the tower have welcomed the initiative, believing it will increase interest in their communities, create new jobs and improve their livelihoods.

Mrs. “Grandma” Tim Somsong Somsuk said: “Our Suvarnabhumi Mosque community on the Thonburi side of the river has always been a place of historical significance, but then it fell into oblivion and was neglected. The Bangkok observation tower will help to revive our community and restore its reputation as a place of historical importance.”

This place in the Klongsarn district is supposedly the historical site where a flag was hoisted several centuries ago as a symbolic sign to foreign ships traveling the river, to signal to them that they were in Siamese territory.

She added that the construction of the privately financed "Golden Line" rapid transit line, which runs in front of the town and the observation tower, was also a factor that would increase the town's prosperity.

An unprecedented number of Thailand's leading architectural and engineering firms, as well as architectural experts, have joined forces to design the tower as a symbol of national solidarity.

The inspiration for the candle-like design of the Bangkok Observation Tower comes from the popular celebratory tradition observed by millions of people across the country: lighting candles on the birthday of the late King Bhumibol Adulyadej as a symbolic gesture to illuminate the country with prosperity.

The Bangkok Observation Tower Foundation is a non-profit organization with the right to operate and manage the tower for 30 years. There is no commercial space for rent in the tower. The premises are used for educational purposes, showcasing Thailand's historical and cultural heritage and the unique characteristics of Thailand's 77 provinces. Surpluses from ticket sales and other sources are used exclusively for social projects benefiting the local community or for charitable purposes.