China reopening to boost H1 23 earnings of Thai hospitals: analyst

The Ministry of Public Health sees 300,000 arrivals from China.

The sudden reopening of the sleeping giant will benefit  Thailand hospitals’ earnings as the market is the top destination for China, said UOB Kay Hian.

In a statement, UOB Kay Hian said China visitors will help increase earnings of Thailand hospitals in the first half (H1) of 2023.

“Aside from the return of general patients from China, the more consequential upside is the provision of COVID-19-related services to Chinese visitors, which will considerably boost H1 2023 earnings,” the broker said.

In a recent announcement, China said its quarantine requirements for foreign travellers will end from 8 January 2023 after over three years of zero COVID-19 restrictions.

Unlike countries such as the US, Japan and South Korea that imposed stricter rules for Chinese visitors by requiring a negative RT-PCR test result prior to their arrival, Thailand does not require such measures to boost tourism recovery.

Thailand authorities required visitors departing to countries that require a negative RT-PCR test result (i.e. China), a health insurance with coverage for COVID-19 treatment expenditure. 

The market’s Ministry of Public Health (MOPH) projected 300,000 Chinese visitors will enter Thailand in early 2023.