The world health organisation just declared the Covid-19 situation a global pandemic. Countries are all responding with actions to curb the spread of this disease. Italy issued a total lock-down of the entire country. The US just stopped all flights to Europe. More measures are likely to come from other countries.
The travel market will be badly hit. Take a look at the pictures below showing the before & after image of popular tourist spots in Tokyo, Shanghai and Singapore following travel bans due to Covid-19. A global recession is imminent. Brace yourselves for difficult months ahead.