News of viral infections and deaths has been spreading since mid-January, sowing panic across the globe and leading the World Health Organization (WHO) to declare a global health emergency. "The global economy will experience shrinkage in the wake of the outbreak because the slowdown will occur worldwide," said Mr Piti. TRAVEL TUMBLESThe prospects for the global travel industry, he noted, were already dim prior to the outbreak as economic conditions overall were weak. The tourism industry as a whole contributes 21% directly and indirectly to the country's gross domestic product, according to the World Travel & Tourism Council. To help alleviate the impact, Mr Piti said he would like to see broader-based stimulus policies that could generate shared benefits for the world economy.

Source: Bangkok Post February 17, 2020 02:15 UTC