Corona Virus – Global Aviation Industry Threatened Loss

Did you know that a number of global airlines have stopped flights to and from Wuhan, China to prevent the spread of the corona virus at this time? Why this virus spreads so quickly to various countries such as Japan, Thailand, South Korea, the United States (US), Taiwan and Singapore. Well, that’s because there are many there are lots of tourists to and from China. If this condition continues and becomes a pandemic, the global aviation industry will face losses. The corona virus that causes pneumonia in Wuhan is known to have characteristics similar to the corona virus that causes Severe Acute Respiratory Syndrome (SARS).

The impact of the corona virus is thought to be large. Moreover, currently the global aviation industry is more dependent on Chinese tourists. The number of tourists from China who travel to various parts of the world around 166 million people. The number is up compared to 2018. There are many tourist spots in China that have the potential to attract world tourists such as the Yellow Crane Tower, the Hubei Provincial Museum, the Wuhan Yangtze River Bridge, the Wuhan Botanical Garden, the Happy Valley of Wuhan, the East Lake Cherry Blossom Park, the East Lake of Wuhan, etc. .

In addition to various tourist destinations that are able to attract world tourists to China, Chinese people also like to travel abroad such as in Australia. The Chinese tourists mostly boarded the airline from their home country then took domestic flights after arriving in Australia. This means, the airline Qantas Airways Ltd could be affected if passenger demand for flights goes down. This also applies in countries that have world-class attractions.

The corona virus outbreak is feared to worsen the condition of the global economy, especially in the field of aviation. That could happen because the Chinese economy in recent years has been much bigger and more connected to the global economy. From time to time, China’s influence on the world in various economic sectors, especially trade in goods and services, investment, and finance, is getting bigger. If not treated immediately, the impact is feared to exceed the outbreaks of severe acute respiratory syndrome (SARS) in 2002 and 2003.