Published by
The Bangkok Post
The Bangkok Post
Analysts at J.P. Morgan downgraded Thailand’s equities rating on Monday, citing the slow pace of recovery in the tourism industry due to rising inflation and a surge in Covid-19 cases in China. JPM said the tourism industry in Southeast Asia’s second-largest economy faces several headwinds, including soaring inflation globally along with weakening consumer sentiment and foreign exchange fluctuations, as brokerage cuts its rating to “neutral” from “overweight”. The country, one of the world’s popular tourism destinations before the pandemic, was among the first nations in Asia to reopen its bor…