Article Number : 37 |
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| Date | 5/2/2003 12:44:28 PM |
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| View this article at: | http://www.punjabimedia.ca/News/NPViewArticle.asp?ArticleID=37 |
| Abstract | City Will Lose $1 billion due to SARS attack; states study Severe acute respiratory syndrome, which is commonly known as SARS will choke off econmic growth in Toronto by almost $1 billion or hal |
| Article | City Will Lose $1 billion due to SARS attack; states study Severe acute respiratory syndrome, which is commonly known as SARS will choke off econmic growth in Toronto by almost $1 billion or half a percentage point this year. The economic think tank had predicted metropolitan Toronto to grow by about 3.8% in 2003 before the SARS outbreak. It is now revising its growth forecast for the city, down to 3.3%. The SARS effect on toursism, excluding airport traffi, is estimated at approximately $350 million this year, representing a nine percent decrease. Furthermore, reduced traffic through Pearson International Airport accounts for an additional loss of $220 million, and non tourism related retail sales are expected to be reduced by $380 million, due to the SARS outbreak. Putting all things aside, it is clearly evident that the SARS breakout is having a negative impact in all sectors of the economy. |
