The global tourism industry is set to incur losses of $1 trillion from the coronavirus outbreak, said the head of the World Tourism Forum Institute on Saturday.

Stressing the virus’ spreading speed and its effects on the sector, Bulut Bagci told Anadolu Agency that 50 million people working in the sector may lose their jobs.

He said the global tourism market averages revenues of $1.7 trillion annually, and due to the outbreak, economic losses have already reached $600 million.

“We believe the loss will reach at least $1 trillion by the end of the year,” he said.

He said

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