Economic impact of coronavirus hurting small businesses across NZ

Author
Newstalk ZB,
Publish Date
Tue, 11 Feb 2020, 9:56AM
Photo / Getty Images

Economic impact of coronavirus hurting small businesses across NZ

Author
Newstalk ZB,
Publish Date
Tue, 11 Feb 2020, 9:56AM

The economic impact of coronavirus is having a flow-on effect on small businesses in the country.

More than 900 people have now died from the disease, all but two in China.

Retailers in tourist towns are reporting a 14 to 30-percent drop in foot traffic and sales volumes, due to the sudden drop-off of visitors from China.

First Retail Group managing director Chris Wilkinson told Mike Hosking small businesses are also hurting in other towns, like Bay of Plenty logging towns.

"We're starting to see some crews being stood down, which will have an impact on the economy's in those areas."

Despite this, Wilkinson says other markets will hopefully keep the tourist industry ticking along.

"We are still in the midst of our cruise season, and in Queenstown we have some strong resilience with the Australian market."