European tourism sector could lose more than a billion euros

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European tourism sector may lose more than a billion euros

The European tourism sector can lose more than one billion euros of income under the influence of terrorist attacks in Paris.

However, analysts believe that low oil prices and the recovery of high-ranking travel companies to compensate for the problems caused by the security factor.

According to analysts, the European tourism sector, due to the terrorist attacks in Paris, may have losses from 800 million to more than one billion euros.

Large companies may be more prepared, because they have more new directions to mitigate losses, said London Capital Group analyst Ipek Oskardeskaja.

The full consequences of the terrorist attacks in Paris on November 13 will be clear only after the publication of the results for the fourth quarter, but significant negative consequences for the European tourism sector are already visible, the World Tourism Organization (UN) said in a statement.

The profit of hotels and restaurants in Paris is 30 to 40 percent lower than the same period last year, the number of new booked flights to Paris fell 27 percent a week after the attack.

#DariaZorina

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