March 3, 2020
Summer vacations could be off the table this year as tourists put off traveling to avoid catching the new coronavirus, experts told CNBC.
Demand for international travel has taken a downward turn amid the outbreak, which has seen the virus spread to almost 60 countries.
Speaking to CNBC’s “Squawk Box Europe” Monday, Ian Harnett, co-founder and CIO of Absolute Strategy, warned a prolonging of the crisis could seriously impact the global travel sector.
“If this gets extended, we’re talking about the impact on Easter holidays, potentially summer holidays, (and) whether the ‘staycation’ becomes the default for all of us here — that’s going to be tremendously damaging to these industries,” he said.
This article was posted: Tuesday, March 3, 2020 at 7:09 am