Following Thailand’s decision to exempt Saudi citizens from entry visas for stays of up to 30 days, there may be increased demand for healthcare and hotel stocks, so keep an eye on them.
In an effort to normalize the diplomatic relations between two countries, Thailand’s cabinet on Tuesday has moved a step further by allowing Saudi tourists to be able to visit Thailand and stay for up to 30 days without applying for a visa in advance.
There is currently no timeframe of when Saudi citizens will be available for the 30-day visa exemption.
Capital Nomura Securities said that Thailand’s decision to exempt Saudi tourists from entry visa requirements in favor for a 30-day stay will bolster sentiment among healthcare and hotel sectors, with BDMS, BH, MINT, and ERW viewed as the biggest gainers, given that these firms target Saudi tourists.
In the meantime, KTBST Securities has given Thailand’s tourism-related securities an “Overweight” rating, since Thailand is considering canceling the Thailand Pass registration for international visitors beginning July 1. KTBST believes that removing the Thailand Pass is the most effective means of easing covid restrictions, and that it might increase the number of foreign visitors to Thailand to 6 million this year, up from 430,000 in 2021.
KTBST anticipates ERW, CENTEL, MINT, SHR, and AOT will outperform the market and be among the top-performing stocks.