World Travel and Tourism Council CEO Gloria Guevara said in a statement this morning that in previous experience with major viral epidemics, visitation recovery at an affected destination can occur as much as 10 months faster with the right response and management.

The 2003 SARS outbreak in Asia and Canada had negative impacts on global tourism totaling between $30B and $50B.

Quoting Ms. Guevara:

“Previous cases have also shown us that closing airports, cancelling flights and closing borders often has a greater economic impact than the outbreak itself.

“The most effective management of a crisis requires rapid activation of effective emergency plans, and we can see that in the early days of this outbreak, the Chinese government has acted rapidly.

“However, quick, accurate and transparent communication is also crucial in order to contain panic and mitigate negative economic losses.

“Containing the spread of unnecessary panic is as important as stopping the virus itself.”

Stay tuned for updates.