Corona virus affects global tourism industry in a big way
Corona virus is costing the global tourism industry billions since big-spending Chinese travelers are now stopped from leaving the country.Hotels, airlines, casinos and cruise operators are among the businesses worst affected by the virus which has claimed 131 lives in China so far, with almost 6,000 infected worldwide.
The impact has become worse with the deadly flu-like virus striking over the Lunar New Year holiday, which is usually a booming time for Chinese travel.The biggest threat so far is for China’s closest neighbors, with the U.S. and Europe likely to suffer major setbacks if the corona virus outbreak prolongs.In Thailand, a favorite destination for Lunar New Year travel, officials are estimating potential revenue loss at 50 billion baht (£1.2 billion).
