THE coronavirus disease 2019 (Covid-19) outbreak could cut the Philippine tourism sector’s revenues by as much as 0.68 percent of gross domestic product (GDP) under a worst-case scenario, the Asian Development Bank (ADB) cautioned on Friday.
The warning comes as Japanese global investment bank Nomura cited the impact of the virus on tourism as one of the major reasons it downgraded its growth projection for the Philippine economy this year.
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