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Do you want to go to Latin America this summer? Tickets are cheap! There’s an explanation for why, of course. First, few leave unless they have legal residency. Even less, as the coronavirus is crying in the largest tourist destinations south of the Rio Grande.
Besides, things don’t paint at overall capacity. Social clearance orders are in effect. Who wants to wear a mask on the beaches of Rio de Janeiro? Save your coins for greater possibilities. The pandemic is a murderous buzz.
BNP Paribas said Monday that they hoped Latin America’s tourism sector would be affected by all emerging markets and for longer.
A look at the curve of coronavirus infection in Brazil and the story is telln: it is stable. It’s a tray. It’s not the maximum probably below. This thing probably wouldn’t happen.
Foreigners will not fly to Rio and Cancun in the middle of a pandemic. The environment is gone.
At least one of the region’s major airlines, LatAm Airlines, has filed for bankruptcy outside its Brazilian unit. Local airlines have not benefited from government stimulus plans, which affects the diversity of short-term flight accessories and helps keep costs in line with what one might believe in the medium term, because it just doesn’t look like gigantic apple planes in the air.
“Mexico is the most affected country,” says Luiz Eduardo Peixoto, emerging market economist at BNP Paribas.
As Americans are their main source of tourism, and the maximum remains at home, a five-percentage relief in Mexico’s GDP rate this year, Peixoto calculates.
In Asia, demand for Chinese travelers is low, as fears of contracting the virus and bringing it home are holding them back.
Chinese airlines have resumed flights to neighboring countries, but demand is low.
It should be noted that around 80% of tourism is regional. Japan, therefore, depends on China, South Korea and Australia; not in Americans or Europeans. Europe depends on China and the Americans. They both don’t fly like they used to.
In total, BNP forecasts a gigantic 70% drop in foreign tourist arrivals into the global emerging world this year, reducing GDP by an average of 0.4 percentage points. So, if you ‘grow’ to -5.5%, the loss of ‘gringos’ in Rio will bring you back to -5.9%.
About 132 countries have restrictions due to the pandemic.
Airlines are opescore in a third of the pre-coronavirus grades at this stage, according to the outdoor OAG knowledge operator in the UK.
“Sporadic virus outbreaks accompanied by re-repositioning restrictions can make it more difficult to bounce sharply and quickly abroad,” Peixoto says.
The worst impacted countries are Lebanon, Thailand and Morocco. The least impacted are Brazil, South Korea and India.
South America’s air capacity has fallen 88% from June 22 compared directly to the diversity of flight and passenger devices in flight in January.
In China, where the pandemic began, flight accessories fell by 29%. In the United States, 62% less, according to the OAG.
As of 23 June, about 65% of the world’s population continued to apply bans. Countries with maximum restrictions are in the Middle East, with 92% of countries implementing bans, with Europe now open maximum, with only about 26% of EU countries closed.
In the Americas, about 76% of countries do not allow foreigners to enter at this time, according to the United Nations World Tourism Organization.
I spent 20 years as a journalist for top productive in the industry, adding as a member of the staff founded in Brazil for WSJ. Since 2011, I have focused on business and making an investment in the great