Vietnam’s tourism faces loss of up to $7.7 billion due to Covid-19 outbreak

The coronavirus epidemic in China could wipe $5.9 billion to $7.7 billion from Vietnam’s tourism earnings in the next three months as international travellers stay away from the region. The tourism sector estimated to see two million fewer Chinese visitors due to the virus, which could result in $1.8-$2 billion of lost tourism revenue. China, where the outbreak began late last year, was Vietnam’s biggest source of foreign tourists, accounting for a third of the 18 million visitors last year, official data showed. Besides, the lodging and accommodation sector is forecast to suffer $1.5-1.8 billion in losses while restaurants will likely lose $1.3-1.7 billion.

In response to the spread of Covid-19 pandemic, Vietnam stopped issuing new visas to all foreigners in an effort to limit the spread of the novel coronavirus, while its airlines halted operations on many international air routes. As planned, Vietnam set a target of welcoming 20.5 million international visitors and supporting 90 million domestic travellers in 2020, numbers it expected would generate VND830 trillion ($ 35.6 billion) in tourism revenue.