Industry Research

Coronavirus Could Cause $820B In Corporate Travel Losses

News Reports
Posted on March 18, 2020
How has the virus impacted your life? (Photo by Pexels userSheila)

How has the virus impacted your life? (Photo by Pexels user
Sheila)

As the coronavirus continues to spread, international corporate trips have mostly been suspended as the travel sector braces for an estimated revenue hit of $820 billion, Reuters reported March 11, citing an industry survey.

A survey by the Global Business Travel Association (GBTA) indicated China has been the hardest hit, accounting for almost half of all travel-related losses. Business travel to Asia is suffering on a large scale with 75% of businesses surveyed saying they sidelined trips to China, Hong Kong, Taiwan, and other Asia-Pacific locations.

PYMNTS.com article here

Related Topics: business travel, coronavirus, corporate travel, covid-19, crisis management, disasters, emergency planning, emergency preparedness, money

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