The economic impact of Severe Acute Respiratory Syndrome (SARS)
SARS has severely disrupted the economies of some of Australia's major trading partners in the region and is expected to reduce GDP growth in East Asia by around ½ to 1 percentage point in 2003. This has occurred in an environment of an already subdued global economy. SARS has caused a large demand shock in East Asia, particularly to the consumption of services, especially travel. However, barring further outbreaks, the economic disruption should be relatively short-lived, with the worst of the economic impact expected in the June quarter 2003. Tourism should gradually recover over coming months. For some regional economies, SARS will add to existing stresses, especially fiscal pressures as governments respond by investing greater resources in public health. The overall economic impact of SARS on the Australian economy has been relatively limited, although tourist arrivals from East Asia have fallen sharply.
Volume (Year): (2003)
Issue (Month): 2 (July)
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