Just last month, outdoor mask-wearing was made optional while group sizes were doubled from five to 10.
Alcohol restrictions were lifted, allowing revellers to party late into the night.
Live performances and singing were also finally allowed, and many people rushed to make bookings at their favourite karaoke outlets. And the government announced another surprise.
Singapore’s Disease Outbreak Response System Condition, or DORSCON, was lowered from Orange to Yellow for the first time in two years.
Along with this move, there will no longer be limits on group sizes, all employees can return to their workplaces, and no pre-departure tests are needed for fully-vaccinated travellers entering Singapore.
In short, life is almost back to normal.
And with borders reopening and economic growth creeping up, it represents a golden opportunity to park your money in good long-term winners at attractive valuations.
A pertinent question you may have could be — where should I begin?
Here is the sector that should see a sustained recovery and that you can use as a starting point to search for suitable investment ideas.
Pent-up travel demand
After two years of limited travel, there is a lot of pent-up demand for travel and tourism.
The good news is that tourists are once again traversing the globe as borders reopen and planes start flying.
Last month, Changi Airport welcomed 1.14 million passengers, marking the first time since the onset of COVID-19 that the airport has crossed the one million mark.
Needless to say, companies such as Singapore Airlines Limited (SGX: C6L) stand to benefit.
The carrier disclosed that passenger numbers hit 893,000 in March, nearly nine times higher than the 100,100 passengers that flew on its planes at the same time last year.
Despite the sharp increase, the current level represents just 20% of the traffic it witnessed three years ago in March 2019.
This low ratio implies that there is significant upside for the airline and its sister company SATS Ltd (SGX: S58) as passenger numbers ramp up.
And with the increase in the number of flights around the world, maintenance, repair and overhaul specialist SIA Engineering Company (SGX: S59) should also enjoy increased volumes.
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