Covid-19 affects Brunei’s tourism revenue, says ADB

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BRUNEI: The Asian Development Bank (ADB) estimates that the Covid-19 (coronavirus) outbreak could cause a decline in tourism revenue for Brunei Darussalam by as much as -0.086% of gross domestic product (GDP) in the best case scenario (US$11.7mil), -0.113% in the moderate case (US$15.3mil) and -0.192 per cent in the worst case (US$26.1mil).

This was highlighted by ADB last Friday, indicating that Covid-19 could reduce global GDP by 0.1-0.4%, with financial losses forecast to reach between US%77bil and US$34bil.

In a report titled ‘The Economic Impact of the Covid-19 Outbreak on Developing Asia, ’ ADB said that economic growth in China and developing Asia, excluding China, could be trimmed by 0.3 to 1.7% and 0.2 to 0.5%, respectively.