Coronavirus could cut up to P133B from PH economy

The novel coronavirus outbreak could cut up to P133 billion, or 0.7% of the country's GDP, from the Philippine economy if it persists until December.

Tourism, which accounts for about P450 billion or around 5% of the country’s GDP, will be most affected with inbound Chinese tourists potentially dropping by 100%. Foreign tourist arrivals could also decline by 10%.

If the outbreak lasts only one month, the impact on GDP would be minimal at 0.06%, based on current estimates.