SGX-listed Thaibev to benefit from robust Thailand tourism in 2023
It is driven by an influx of Chinese tourists.
Earnings of Thai Beverage, an SGX-listed firm, will be uplifted by the influx of Chinese tourists in Thailand this year, UOB Kay Hian said.
In a brokerage report, UOBKayHian said China’s decision to stop its stringent health policies will result in pent up travel demand and a severe increase of Chinese tourists visiting Thailand.
The report advises that ThaiBev will have a “buy” rating, with a target price increasing to $0.85.
It also highlights that Thailand's tourism recovery is continuing, with over 1.75 million tourist arrivals in November, four times the whole of 2021 combined, and expects 11-12 million tourist arrivals in 2022, higher than previous expectations.