As Thailand is planning to further lift restrictions on foreign travelers in bid for reviving tourism, Asia Plus Securities believes this will be favorable towards country reopening plays, with AOT selected as top pick stock.
At the upcoming meeting on Friday (22 April), Thailand’s Centre for COVID-19 Situation Administration (CCSA) is likely to approve the cancellation of RT-PCR testing and Thailand Pass for inbound travelers who arrived after May 1, which is considered a factor boosting the Thai tourism industry.
After the mandatory RT-PCR test 72 hours before arrival in Thailand was revoked in early-April, the number of tourists increased by more than 60% over March. ASPS stated that this is beneficial for country reopening plays, including tourism (MINT, ERW), tourist destinations (CPN, CRC, MAJOR), and transportation (AOT, AAV).
