Thailand (Bualuang): Consumer - Why June 2021 is crucial?

  • Thailand’s COVID-19 inoculation to hit critical mass in June…
  • …Then the re-openings of towns
  • Domestic tourism first, international more challenging

June 2021 is a watershed for Thailand, as the mass COVID-19 inoculation begins this month. Consumer confidence and outdoor activities should resume once the vaccination rollout speeds up. We believe in the pent-up demand for eating-out, recreation and domestic travel. Govt stimulus measures would be re-activated, boosting consumer spending. We recommend accumulating re-opening play stocks, AU, M, CRC, AWC, CENTEL and MINT.

Thailand’s COVID-19 inoculation to hit critical mass in June…

As of May 30, 2021, Thailand has administered 3.6m doses of COVID-19 vaccines (2.5m for one-dose and 1.1m for two-doses) or 3.6% of total population for 1-dose vaccine. The vaccine rollout strategy is sensible, prioritizing high-risk areas/provinces, potential spreaders (for example, public transport workers) and tourism destinations. The country’s mass vaccination rollout will begin in June 2021 providing at least 8m people with 1-dose of COVID-19 vaccination or 12.5% of total population. The vaccination target is to jab 70% of Phuket population with 1-dose of vaccine by end-June 2021; 70% in Bangkok, Krabi and Pang-Nga by July, adding vicinities, Chonburi and Surat Thani by Aug and the remaining 66 provinces by September. In our view, nearly 50% of total population should have received 1-dose vaccine by in Sep 2021.

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