China Reopening May Boost Hong Kong’s GDP by 7.6%, Goldman Says

As demand for imports and foreign travel rises, Thailand and Singapore will also benefit, economists predict

(Bloomberg) — Hong Kong, Thailand and Singapore are likely to 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 experience a 7.6% boost to its gross domestic product as exports and tourism income climb, while Thailand’s GDP may get a lift of 2.9%, Goldman Sachs economists wrote in a note. The impact on Singapore will probably be smaller, at 1.2%, followed by 0.7% for Malaysia, they said.