Professor, Law and Economics of Tourism, University of Guelph
China’s tourism sector has been devastated by the latest coronavirus outbreak, but the impact is being felt around the world and in many industries
The spread of infectious diseases is invariably linked to travel. Today, tourism is a huge global business that accounts for 10.4 per cent of global Gross Domestic Product (GDP) and 10 per cent of global employment.
Nothing seems to slow its growth as year-over-year increases outpace the economy. The United Nations World Tourism Organization is predicting further growth of three per cent to four per cent in international tourist arrivals for 2020, with international departures worldwide particularly strong in the first quarter of this year.
But that was before a new coronavirus (formally known as 2019-nCoV) hit China and then very rapidly started spreading to the rest of the world with 20 countries and counting isolating cases. Continue reading
US economy under Trump: Is it the greatest in history? – Reality Check – BBC News
Claim: President Trump often says the US economy is on an historic high, perhaps the greatest it’s ever been.
Speaking at his State of the Union address in February, he reinforced those claims by hailing his pro-growth policies which he says have helped Americans with jobs and wages.
Reality Check verdict: It’s true the economy has been doing well – but there have been periods when it was even stronger.
And the trade war with China, rising tensions in the Middle East and fears over the health of the global economy have unsettled markets at various points, and led the US central bank, the Federal Reserve, to lower interest rates.
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