Extreme measures by governments across the world to contain the spread of the novel coronavirus could cost the tourism industry 50 million jobs.
The pandemic that has left hundreds of planes grounded and dozens of cruises docked will impact up to 25% of the trips estimated for 2020, according to the World Travel & Tourism Council industry group.
“For many companies it is a matter of how long they can go on for without generating any income, and generating large losses as they reimburse trips,” Managing Director Virginia Messina said by phone. “The tourism sector will inevitably suffer.”
Read the entire Article from Bloomberg here.