Even if the coronavirus outbreak ends quickly, the disruption in the supply chain will affect trade, tourism and confidence.
ICAO forecast a decline in global traffic of 16.4 million passengers, the hotel industry could end up having to deal with the virus impact for the next 12 months.
Singapore expects visitor arrivals to drop 25%-30% this year due to the virus, OYO has brought in 8,500 more rooms in China, and more for the day.
The toll on travel and hospitality could be worse than during the SARS epidemic when Chinese travelers were a smaller group than they are today.
Although the vast majority had left before the travel restrictions took effect, the prospect of a record-breaking year was gone.
Trip.com Group is still interested in acquisitions, not simply for market share but also know-how.
The outbreak will hit Asia Pacific economies, particularly in retail, restaurants, conferences, sporting events, tourism and commercial aviation.
British Airways and United Airlines are among the latest to cut flights while China Southern appears particularly vulnerable.
ChinaTravelNews is a wholly owned subsidiary of
©2019 TravelDaily Inc.