ING write: "We are getting quite used to.......>

ASIA: ING write: "We are getting quite used to seeing footage of tourists

stranded on cruise ships as the Covid-19 outbreak leads to aggressive attempts

at containment. One thing is very clear, travel and tourism in Asia are taking a

beating. From deserted hotels to empty airports, the impact of this little scrap

of protein and lipid on economies in the region is potentially enormous. In this

note, we set out a process to estimate the loss of Asian GDP through lost

tourism receipts alone, and come up with a total figure of $105-115 billion.

It's far too early to speculate how far this Covid-19 outbreak will go. But

barely two months into this epidemic and the ramifications are already

far-reaching. Parts of China are in a literal lockdown, and there is very little

travel between China and other parts of Asia. Where this still occurs, screening

and quarantine procedures are in place. Few if any Chinese travellers will

consider a two week lockdown an acceptable price for a similar length vacation

elsewhere in Asia, and not surprisingly, Asian tourists are also notable by

their absence in China."