Search ForexCrunch

Economists at ANZ have carried out research which shows a steep drop in airport spending in February, reflecting coronavirus-related travel bans and lower appetite for international travel. EUR/AUD is trading at 1.612. 

Key quotes

“Spending in small airports with mostly domestic flights did not fall.  Spending in major airports (Brisbane, Melbourne, Perth, Sydney) dropped 27% from the week ending 21 January to the week ending 8 February.”

“The effect of this fall in international tourism could be concerning for Australia’s economic activity. We recently estimated that GDP for the March 2020 quarter could go backwards as a result of the coronavirus-related drop in travel.”  

“We expect airport arrivals and tourism spending to remain low, while the travel bans continue and some local residents elect not to travel internationally.”


Expert score


Etoro - Best For Beginner & Experts

  • 0% Commission and No stamp Duty
  • Regulated by US,UK & International Stock
  • Copy Successfull Traders
Your capital is at risk.