Coronavirus Fallout: Global Business Travel Industry Hit Hard, Could Faces Losses Of US $820 Billion

Coronavirus is now officially at pandemic with WHO making the declaration on March 11. The infection has now infected over one lakh people and caused over 4,000 deaths in the span of two months. Governments across the world are discouraging travel to try and halt the spread of the virus. While the U.S. government has put a halt to flights coming in from Europe, the Indian government has suspended all visas until April 15. Italy is under lock-down and so is Iran and Saudi Arabia. These measures meant to contain the COVID-19 outbreak are having a direct fallout on the travel and tourism industry with just the business travel sector projected to face a loss of upto US$820 billion.

(The above story first appeared on LatestLY on Mar 12, 2020 06:45 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).