| 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.
|
