As most of Thailand’s population is now fully vaccinated, a further hard lockdown is unlikely, so travel activity will gradually recover. Scoping down to 4Q21 and 1Q22, our Transport coverage looks set to deliver unexciting results. Nevertheless, prevailing trends signal recoveries in travel demand and the broader tourism industry.
The world is recovering
More than 60% of the world’s population has received at least one dose of a COVID-19 vaccine and more than 50% is fully vaccinated. Many countries are easing their lockdowns and travel restrictions. Some have lifted all COVID-related travel restrictions. By mid-2022, we expect many countries (including Thailand) to lift all COVID-related travel restrictions, once public anxiety eases over Omicron and other possible future variants of concern.