Hundreds of Travel Agencies Close Down Due to Coronavirus Repercussions

The outbreak of coronavirus has had a chilling effect on the tourism sector. Hundreds of travel agencies have had no choice but to close down. Furthermore, the hardest-hit sector incurred hefty losses of 90%, stirred by the new laws adopted during the pandemic, inducing a drop in the number of travelers and ramping up tickets’ prices. This was coupled with soaring prices of rents and debts that amount to millions.