Vietnam faces loss up to US$7.7b in tourism due to China’s coronavirus, says state media

Business & Finance
7 Feb 2020 • 4:46 PM MYT
Malay Mail
Malay Mail

Latest Malaysia breaking stories on politics, analysis and opinions

image is not available

Tourists wearing masks cross a street outside a shopping mall in Kuala Lumpur January 29, 2020. — Reuters pic

HANOI, Feb 7 — The coronavirus epidemic in China could wipe US$5.9 billion (RM24.4 billion) to US$7.7 billion from Vietnam’s tourism earnings in the next three months as international travellers stay away from the region, state media said today.

The tourism sector estimated to see two million fewer Chinese visitors due to the virus, which could result in US$1.8-US$2 billion of lost tourism revenue, reported the official Voice of Vietnam Radio.

China, where the outbreak began late last year, was Vietnam’s biggest source of foreign tourists, accounting for a third of the 18 million visitors last year, official data showed.

Vietnam said it would also stop issuing visas for foreign visitors who had been in China in the past two weeks.

The government on Wednesday said its gross domestic product growth in the first quarter of this year “will likely be one percentage point slower” than the 6.8 per cent target.

Vietnam confirmed an additional two cases of the new virus on Thursday, bringing the total in the Southeast Asian country to 12 cases. — Reuters