Should a ban similar to that imposed in Italy be imposed here, the effects would leave several industries, and the economy as a whole, in ruins.
Should the coronavirus intensify to levels similar to those in Italy, which has had to impose a travel ban, the South African economy would face widespread ruin, an economist has warned. A usually thriving tourist economy and a favourite destination for many travellers, including South Africans, Italy has been reeling from the impact of the respiratory disease, with the death toll reportedly soaring by 133 in a day to 366.
The total number of infections is said to have leapt 25% to 7,375 from 5,883. South Africa, meanwhile, has seen its number of infections jump to seven, after four more members of the group which travelled to Italy and among which the first three cases were diagnosed, tested positive. “If this was to happen to SAA, which is surviving on state bailouts, the situation could hurt all other local and foreign airlines,” said Schussler.“Trains would come to a halt; guesthouses would close and events management companies would also be affected. We should remember that the tourism contribution to the South African GDP is bigger than that of gold and coal mining combined,” added Schussler.
“The biggest effects are not likely to come from a downturn in local economic activity, but rather from constrained demand for South African goods and services internationally – reduced export demand. There is currently a lot of global panic and fear about deaths due to the coronavirus.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
COVID-19: Moscow threatens prison term for people ignoring self-isolation rulesThe Moscow healthcare department said on Sunday that those disregarding the regulation risked severe punishment including imprisonment of up to five years.
Read more »
Africa’s first Covid-19 death confirmed in EgyptA German tourist died Sunday of the novel coronavirus in a Sinai resort of eastern Egypt, the health ministry announced, the first death from the epidemic recorded in Africa.
Read more »
Lowest number of new Covid-19 infections in South Korea in two weeksA key factor behind the South’s much lower fatality rate from the virus relates to the profile of people being infected
Read more »
TONY LEON: Getting sick from Covid-19 might help us bin political fantasiesThe more stringent the public health response, the worse the economic effects as our world contracts
Read more »