Swine Flu Outbreak Sparks Business Travel Cancellations to Mexico
With little known about the status of the swine flu outbreak that has been sourced to Mexico, several Asian companies have already restricted travel to Mexico, according to reports from Bloomberg. They include: Hitachi Ltd., Panasonic Corp., Samsung Electronics Co., Sharp Corp. and Sony Corp.
Bloomberg also reported that "Hitachi is recalling employees and their families in Mexico, halting business trips to the country, and issuing a travel advisory for the U.S." Hitachi is headquartered in Japan. To be sure, these are not the only companies that will be considering the swine flu outbreak's impact on business travel.
The combination of canceled business travel and/or travel restrictions will also have a negative effect on the tourism industry in Mexico and other impacted areas. Mexico had 22.6 million foreign tourists in 2008, generating $13.3 billion for Mexico, according to Bloomberg.
But the swine flu's general impact to tourism can can already be seen as the price of airlines shares fall. Air China Ltd., Air France-KLM, British Airways, Deutsche Lufthansa AG, Iberia, Japan Airlines, Qantas Airways and Singapore Airlines were all trading lower today prior to the open of the New York Stock Exchange as a result of global fears of swine flu, according to Bloomberg.
The World Health Organization posted an epidemic and pandemic alert and response on its website, and key facts about swine influenza is available on the Centers for Disease Control website.
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