Singapore, Hong Kong, Thailand to benefit aplenty after China reopening

SINGAPORE, Dec 12 (Bloomberg): Hong Kong, Thailand and Singapore will likely be the biggest beneficiaries as China drops its Covid restrictions and reopens its economy, driving up demand for imports and overseas travel, according to Goldman Sachs Group Inc.

Hong Kong could see an estimated 7.6% boost to its gross domestic product as exports and tourism income climbs, while Thailand’s GDP may get a lift of 2.9%, Goldman Sachs economists wrote in a note. The impact on Singapore is smaller, at 1.2%, followed by 0.7% for Malaysia, they said.