Thailand Welcomes 6 Million Tourists in First 9 Months, Analyst Favors ERW, CENTEL, AOT

The international tourists visiting Thailand increased by 90% in September, bringing the total number of visitors for the first nine months of 2022 to over 6 million, according to officials, which was much higher than expected.

On Sunday, Yuthasak Supasorn, governor of Thailand’s Tourism Authority, announced that the country had received 6,011,000 visitors from January 1 through September 1. This is a small increase from the target of 6 million. And that Thailand may see slightly more than 10 million foreign arrivals this year, as a key industry recovers from the pandemic’s impact.

In the last four months of the year, the TAT predicts that Thailand will welcome an average of 1.5 million tourists every month.

According to the report, the tourism industry is recovering from the pandemic at a steady rate, which Daol Securities sees as a positive sign for the stocks in the sector. The stocks most likely to benefit are ERW (88%), CENTEL (80%), MINT (15%), and SHR (5%), listed from highest to lowest income proportion in Thailand.

The broker rates Thailand’s tourist industry as “Overweight,” favoring ERW (TP: THB4.80), CENTEL (TP: THB55.00), AOT (TP: THB82.00), and BAFS (TP: THB35.00).