Coronavirus contagion besieges travel industry

Blow upon blow for the global travel industry.

Up to fifty million jobs in travel and tourism are at risk because of coronavirus, the World Travel and Tourism Council said Friday (March 13).

Calling on governments to cut travel taxes, simplify visas and introduce incentives as soon as the virus is under control.

Airlines and other travel operators are reeling from Donald Trump's travel curbs on much of Europe Thursday (March 12).

Companies worldwide freezing new hires, halting executive bonuses and offering unpaid leave as demand drops away.

Including the big U.S. airlines -- which are scrambling to cut flights to Europe.

American Airlines and United said they'd be halving European services in April, with cuts carrying on into the summer season.

Coronavirus has rocked the cruise industry too.

Princess Cruises -- the operator of two ocean liners that were quarantined -- saying Thursday all 18 of its ships would suspend voyages for two months.

Cancellations have already soared following the outbreak.

Shares of Carnival Corp, the parent company, tumbled 18 percent on the news, having already halved in value since the start of the year.

Finland's Viking Line has also paused movement of its river ships and ocean liners around the world.

And it's not just about getting there - tourist hotspots and events are starting to close.

Including Disney theme parks in California and Florida.


Nepal closed its Himalayan peaks -- including Mount Everest -- to climbers just as spring expeditions get started because of fears of an outbreak.

It'll be a serious blow for the mountain country. Home to eight of the world's highest peaks, it will lose permit fees, and income for agencies, sherpa guides and many others.