Marc Faber : From Vietnam, Laos, and Cambodia to Singapore, Malaysia, and India, tourism in the region is on the rise, propelled by the Chinese. This year, Chinese tourism in Thailand is up 90%. Twenty and 30 years ago, the largest tourist groups in Asia were Europeans and Americans. Today, the Chinese dominate. This is an example of how the center of economic gravity is shifting to Asia from the Western countries.
Asian hotel and casino companies are beneficiaries. A conservative way to play the local travel boom is to buy shares of airline caterers or aircraft-maintenance companies. In Singapore, you could buy SATS (SATS.Singapore), which runs ground-handling and airline-catering services across the region, or SIA Engineering [SIE.Singapore], or Singapore Technologies Engineering [STE.Singapore]. I own these shares, and they have performed well. Still, they aren't terribly expensive.
- in a recent Barron's interview : Click here to watch the full interview >>>>>>
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.
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