บทวิเคราะห์ (Research)

According to the Economics Tourism and Sports Division, the number of international tourists reached 35.5mn (+26% YoY) in 2024. This accounted for 101.4% of KGI’s full-year projection at 35mn. YTD (January 1-19, 2025), the number of international tourists was 2.14mn (+18.6% YoY), accounting for 5.6% of KGI’s full-year forecast at 38mn for 2025F. For funds related to tourism, we think the prime beneficiaries would be Hotel and Retail segments. We maintain our recommended funds: i) first-tier funds: CPNREIT, WHAIR and AMATAR and ii) second-tier funds: ALLY, GROREIT, LHHOTEL and PROSPECT.