COVID-19 virus could cost global travel industry $46.6 billion per month: GBTA

The COVID-19 virus could potentially cost the industry $46.6 billion per month. That translates into $559.7 billion annually, or 37% of the industry’s total 2020 forecast global spend, revealed a new poll released today by the Global Business Travel Association (GBTA). GBTA members routinely send their employees to meetings and events throughout the world, with the primary destinations being North America, Europe, China, and the Asian Pacific region. To understand the coronavirus’ effects on this travel, GBTA conducted a poll of its worldwide membership on February 25, 2020. It received responses from 401 companies.