Nothing can save tourism

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Via The Australian:

Australia faces an “unpreced­ented” fall in international visitor arrivals from key countries as the coronavirus outbreak feeds a ­record number of holiday can­cellations and a 36 per cent fall in bookings since December.

Tourism Australia data reveals COVID-19 has fuelled a wipe-out in international airline bookings from key tourism markets, including China, Britain, Canada, the US, India, Japan and Singapore.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.