Seven tourism stocks poised for second-half recovery as foreign arrivals reach 17.36 million

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Summary · why it matters

Kasikorn Securities notes that the Ministry of Tourism and Sports reported that from January 1 to July 18, 2026, Thailand welcomed a cumulative 17.36 million foreign tourists, generating revenue of 839 billion baht. Although this is still down 3.05 percent compared to the same period last year, the top five source markets were China, Malaysia, India, Russia, and South Korea. Meanwhile, in the latest week, tourist numbers rose 4.04 percent from the previous week, supported by school holidays, increased flights, and a recovery in the Taiwan market. The research team views this as positive for tourism and airport stocks such as Airports of Thailand, Asia Aviation, Bangkok Airways, Central Plaza Hotel, Erawan Group, Minor International, and Asset World Corporation, given the gradual recovery in tourist numbers expected in the second half of the year, even though cumulative arrivals remain slightly below last year's level.

Impact on assets 7

Industrials▲ · 3 stocks
Airports Of Thailand PCL
AOT
▲ PositiveDemandrelevance

Increased tourist numbers drive airport traffic and revenue for Airports of Thailand.

Consumer Discretionary▲ · 3 stocks
Real Estate▲ · 1 stocks
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