Moroccan health workers scan passengers arriving from Italy for coronavirus Covid-19 at Casablanca Mohammed V International Airport on March 3 2020. Picture: AFP/FADEL SENNA
As an illness that broke out in China goes global, the tourism business faces a growing threat. Many of the Chinese travellers who have driven the industry’s expansion were already staying home, after the government locked down tens of millions of people and banned sales of package tours. That emptied lodgings in the casino hotspot of Macau, cleared beaches across Southeast Asia and eliminated lines outside Louis Vuitton boutiques in Paris.
“We aren’t capable of saying how long the situation will last,” said Ana de Pro, CFO of Amadeus IT Group, which provides online booking software for the travel industry. Package holiday giant TUI announced a hiring freeze, saying it could not yet estimate the financial fallout from the outbreak. For local economies dependent on tourism, the full impact will be broader, as travellers weigh risk and benefit for the busy summer season. Each lost booking is not only a blow to hotels and airlines but also to the myriad other businesses — from Parisian luxury boutiques to Asian street-food stands — that rely on travellers.
The outbreak has hit particularly hard in Italy, where travel and tourism generate 13% of economic activity, according to the World Travel and Tourism Council. Usually at this time of year, skiers from across Europe head for Cortina d’Ampezzo, Val Gardena or Cervinia, some staying overnight in Milan or Venice on the way.
Let me guess pravingordhan tito_mboweni CyrilRamaphosa , SAA will have to extend business rescue again because of Corona virus...😏 another 15 billion MoodysInvSvc of investors cash
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Manufacturing business conditions hit 11-year lowThe Absa PMI fell to its lowest level since 2009, as the world battles coronavirus implications and SA contends with threats of power cuts
Source: BDliveSA - 🏆 12. / 63 Read more »