This whitepaper looks at the economic impact of the novel Coronavirus and attempts to gage possible global consequences, especially in the automotive and tourism sector.
Compared to previous estimates, combined sales of passenger cars and motorcycles in China are estimated to decline by 69%. We estimate that revenues of the Travel & Tourism market will decrease by 17% worldwide as an impact of the novel coronavirus, resulting in a reduction of worldwide revenue in Travel and Tourism from US$685.1 billion in 2019 to US$568.6 billion in 2020.