Aviation activity in Asia is gaining momentum as the region continues to ease Covid-19 travel restrictions, and the outlook for the region now looks brighter, according to JPMorgan. This is after China announced last week that it would reduce the quarantine time for international travelers. In November. 11 Note, JPMorgan said it was optimistic about the region’s aviation industry, which it expects to rebound to about two-thirds of pre-pandemic levels by the end of the year, as momentum enters 2023. “Asian countries including Japan, Thailand and other countries, the bank said ASEAN is in the race to revive inbound tourism. She added that the uncertain economic outlook has yet to eat into spending on leisure travel – with IATA continuing to see strong international air travel bookings ahead. “Given the higher forward booking visibility and the additional lift generated by the recent phase of reopening in parts of the region, we remain positive in the airline and airport segments in Asia,” JPMorgan said. The bank said that although China’s domestic travel continues to be compromised by the COVID-19 outbreak and lockdown, international aviation activity has doubled since June and is expected to rise 106% year-on-year through winter to spring. The bank’s main choices to play in this sector are Beijing Capital International Airport and Shanghai Airport. Airports of Thailand is another stock that JPMorgan has named. The bank said tourism is the backbone of the Thai economy and is on track to meet its 2022 target of 10 million foreign tourist arrivals. Tourist arrivals reached 7.56 million at the end of October, and the country is expected to receive another 3 million visitors for the rest of 2022. The airline of choice is Singapore Airlines on JPMorgan’s list. The country’s national carrier posted record revenue in the second quarter, and bookings are expected to remain strong through the Lunar New Year holiday at the end of January, according to Reuters. Shares of the airline have jumped nearly 10% year-to-date. Other airlines of choice include JPMorgan, Air China, and Qantas Airways. JPMorgan noted that the Japanese government has an annual target of 60 million foreign visitors per year by 2030, while also announcing its goal for inbound tourism to rebound to pre-pandemic levels by 2025. JPMorgan said: “Japan is looking forward to Revitalizing the tourism sector with upcoming international events to be held in Japan including the 2025 Osaka Expo and the World Athletics Championships in Tokyo which are poised to increase visitor volume. Other Stocks That Could Fly Aside from airport and airline stocks, reopening China will also benefit the hotel, restaurant and entertainment sectors, according to a Goldman Sachs note issued Nov. 3. 6. These shares include casino operators Galaxy Entertainment and Sands China, the Yum China food chain, as well as Trip.com. — CNBC’s Xavier Ong contributed to this report.