Wuhan virus to hit Singapore’s tourism sector, but too soon to assess impact on overall economy: Experts

, business and consumer confidence in 2020, with tourism-related sectors being of “immediate concern”.

“The longer this ban stays in place, the bigger the impact,” he added. “And if the developments over the next month prove to be not as favourable, then it won’t just be the Chinese that are travelling less but across all nationalities. That will further impact the tourism-related sectors here.” “While people seem to be looking to SARS as a proxy, it is still too early to tell the full impact for now.”

Nevertheless, economists noted that the outbreak coincides with a dip in overall exports and growth in Singapore’s economy, suggesting less wiggle room should a worst case scenario happens.“We were looking at 1 to 2 per cent for Singapore’s economy in 2020, but we may adjust to 0 to 2 per cent to accommodate the potential downside risks,” she said.

The transport sector saw targeted measures such as diesel tax rebates for taxis and waivers of taxi operator license fees.

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