Zika yet to draw blood from Singapore’s hospitality sector

SINGAPORE (Sept 6): OCBC Investment Research is maintaining its “neutral” stance on Singapore’s hospitality sector pending further information on the severity of Zika, with expectations that the impact of virus’s outbreak will be “much milder” than that of 2003’s severe acute respiratory syndrome (SARS) incident.

As of Sunday, the number of confirmed cases has risen to 242 from 41 cases on Aug 28.

“During the SARS episode, tourist arrivals fell 14.5% to 70.7% y-o-y in Mar to May 2013,” recalls lead analyst Deborah Ong in a Monday report.

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