World
Tourism Businesses Worldwide Brace for a Hit Worse Than SARS
- Grounded shoppers put $79 billion travel retail market at risk
- Asia to Europe rely on Chinese shoppers more than ever
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Hotels, luxury shops and attractions around the world that came to rely on a flood of Chinese tourists are facing an even bigger crisis than during the SARS outbreak as the new viral outbreak infects more people than the 2003 pandemic.
From Tokyo to London, hotels, casinos, airlines and retailers are already recording a downturn and are bracing for weeks, if not months, of plummeting spending after China curbed outbound travel and governments tightened border controls.