Major airlines such as British Airways, Cathay Pacific Airways and Amerian Airlines Group, as well as the cruise industry, including Royal Caribbean Cruise, have drastically cut or suspended routes to China.

The 바카라사이트 industry is also sad. In particular, Chinese tourists in Macau plunged 83 percent during the spring holiday, and other minor blows occurred, including Las Vegas Sands.

The Wall Street Journal (WSJ) reported on the same day that the new Corona virus is causing a huge backlash in manufacturing around the world.

They argue that the impact will inevitably be huge as major manufacturing industries, including automobiles, are concentrated and the supply chain has become more complicated compared to 2003.

Wall Street believes that even if the situation evolves in the near future, a decline in first-quarter growth is inevitable.

It is claimed that the tourism industry is hit harder by the new coronavirus than SARS in 2003.

In other words, not only the aviation industry, but also the retail industry, led by hotels, casinos and luxury goods, have been hit by the virus throughout the related industries, and the affected areas have spread not only to China but also to major cities such as Tokyo and London.

It is pointed out that not only industries that rely on Chinese tourists and shoppers, but also manufacturing industries, including automobiles, are losing their snowballs.

Bloomberg reported on the 31st (local time) that after the first outbreak of the virus at the end of last year, the tourism industry was hit harder by the new Corona virus than by SARS in the past.

As of 2018, the number of overseas travelers in China reached 163 million. The figure has increased by about 50 percent since 2014.

In addition, Chinese consumers accounted for more than 30 percent of global retail sales related to accommodation and tourism.

In 2003, when SARS occurred in the past, only 20 million Chinese tourists traveled abroad, and the recent situation is even worse.

"Chinese tourists are the biggest source of income for the retail industry as well as for air and lodging," said Stephanie Wixink, an analyst at Jefferies in snehavakta.com report. "The related industry is going through a triple whammy."

"The economic impact of the virus is greater than SARS," said Luya Yu, an analyst at Bocom International in Hong Kong, in an interview with Bloomberg. "As Chinese tourists and their spending has increased significantly over the past decade, the gap is also large, and the fact that control has become stricter than it was at the time of SARS, including travel bans in major countries, is also making the industry breathable."

Last year's spending by Chinese tourists on Spring Festival was estimated at $150 billion. It enjoyed specials from duty-free shops to luxury stores in major cities.

Hundreds of millions of Chinese moved to meet their families or travel just before this year's Spring Festival, but movement in areas near Hubei Province is being controlled, led by Wuhan, the epicenter of the virus.

In addition, major Southeast Asian countries such as Hong Kong, Singapore, and Malaysia have blocked travelers from China to prevent the spread of the infected, while Russia has also closed its border with China.

Some pessimists expect China's economic growth to worsen to 4.5 percent in the first quarter. It suggested the possibility of a sharp retreat from 6 percent in the fourth quarter of last year, while plunging to the lowest level since the data was compiled in 1992.