Admits hit will be far worse than during 2003 SARS outbreak
By: Sophia Yang, Taiwan News, Staff Writer\
The COVID-19 crisis is having a ripple effect across Taiwan and around the world as activities grind to a halt. The central bank said that the epidemic is affecting supply chains, disrupting manufacturing operations, and hurting domestic demand, so it is cutting the country's growth outlook to 1.92% for 2020.
As more nations have imposed lockdowns and bans on all foreign visitors, tourist agencies in Taiwan have halted overseas tours until the end of April.
During the SARS outbreak in 2003, the total passenger traffic at the country's international airports dropped by 69.5 percent, with the number of outbound and inbound visitors down 71.5 percent and 68.7 percent, respectively. Overall, the economy slumped into a negative growth rate of 1.15 percent. [FULL STORY]