Coronavirus triggered main disruption to international journey
Coronavirus triggered main disruption to international journey
Asia-Pacific hardest hit
Journey & tourism account for 10% of worldwide GDP
Provides particulars in fifth and seventh paragraphs
LONDON, March 17 (Reuters) – Worldwide journey is predicted to fall at the least 10.5% this 12 months, the most important year-on-year drop because the fast unfold of coronavirus sows chaos throughout the tourism and leisure sector, based on trade consultancy Tourism Economics.
The most recent estimate is a giant downgrade from two weeks in the past, when the consultancy was utilizing the 2003 SARS outbreak as its benchmark and estimated journey charges would fall by 1.5%.
Underneath that situation, the virus could be contained by the top of the primary half of the 12 months and journey charges would begin to get well by July.
However the market has entered uncharted waters now as governments world wide implement…