Tourist hotspot Da Lat saw 10,000 room bookings being canceled in February, and much the same has been happening in other tourist destinations such as Nha Trang and Da Nang since the Covid-19 outbreak several weeks ago. The huge decline in the number of tourists, especially from China, could cause losses in tourism revenues of $7 billion in the first quarter, and could double to $15 billion if the outbreak persists in Q2, according to the Vietnam Tourism Advisory Board (TAB). Tran Trong Kien, the TAB chairman, estimates the damage to last 6-12 months in some tourism subsectors. This is also expected to cause collateral damage for other industries. Vietnam Airlines, Vietjet and the country’s three other airlines estimate that the suspension of Vietnam-China flights could cause losses of over VND10 trillion ($430.5 million). The sector accounts for 26 percent of Vietnamese airlines’ international services. The epidemic has resulted in 640 flights a week between the two countries being canceled, or a loss of 400,000 passengers a month, according to the Civil Aviation Authority of Vietnam. Duong Tri Thanh, the CEO of Vietnam Airlines, estimated his airline would lose $196 million if flights to China resume in July. Manufacturing industries that depend… Read full this story
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