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Southeast Asia’s tourism and medical travel hit by oil shock, eroding competitive edge
A conflict-driven closure of the Strait of Hormuz has sent jet fuel prices in Asia & Oceania to USD 208.79 per barrel as of 27 March 2026, triggering earnings downgrades, capacity cuts, and price increases across Southeast Asia's aviation, tourism, medical travel, gaming, and manufacturing sectors. Indonesia and Malaysia are partly cushioned by commodity revenues, while the Philippines and Thailand face the sharpest exposure.








































