Portugal's hotel industry may face losses of up to 1.44 billion euros ($1.56 million) due to the coronavirus pandemic in the first half of 2020, while about 85 percent of employees in this area will be temporarily unemployed in April, the local Diario Economico business newspaper said on Wednesday, citing a report by the Hotel Association of Portugal.
According to the newspaper, the association estimates losses from 1.28 billion euros to 1.44 billion euros, and over 80 percent of hotels will remain shut in April and May, which will result in about 51,000 employees being temporarily laid off due to the suspension of their work.
These economic consequences were triggered by the Portuguese government's decision to suspend all public life and ban travel across the country in a bid to curb the spread of the virus. In addition, the authorities declared a state of emergency over the COVID-19 pandemic on March 19.
So far, Portugal has confirmed more than 12,400 cases of the disease, including 345 fatalities and 184 recoveries, according to Johns Hopkins University.