Tourism in Thailand is slowly recovering this year up to recent week when the number saw jumped significantly as the kingdom gradually easing Covid-19 restrictions, allowing economic activities to return to normal and foreign tourists to visit Thailand more easily by cancelling the RT-PCR test, while the Thailand Pass scheme will be cancelled starting June 1, 2022.
The latest update of tourist arrival to Thailand stated that 252,000 tourists have entered Thailand during 1-18 May 2022. The figure shows a sharp increase from 265,000 arrivals in April, 210,000 in March and 152,000 in February. According to estimates, tourist arrivals in April could be as high as 420,000.
The number of tourist arrivals could surge significantly after June 1, when the Thailand Pass scheme is lifted. Meanwhile, open hours of nightlife and entertainment venues have been extended to midnight.
Airports of Thailand Public Company Limited (SET: AOT), Minor International Public Company Limited (SET: MINT), Central Plaza Hotel Public Company Limited (SET: CENTEL) and The Erawan Group Public Company Limited (SET: ERW) have been analysts top picks for stocks that will benefit from the recovery in tourism.
According to data compiled by Refinitiv, MINT has the biggest upside to its consensus target price, while net profit in 2022 is expected to turn to profit as well.
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