Terror Attacks Weigh on Europe’s Travel Companies
This will take down airlines, hotels, restaurants, luxury goods stores, and the governments which rely on the tax revenues.
"A confluence of negative factors is buffeting Europe’s tourism business. Travelers appear more cautious following a spate of attacks—most recently in Munich and in Nice, France. Economic growth in many European countries is weak, straining some consumers’ pocketbooks."
It can't be all that bad, can it?
"'Europe has several, almost I guess, three strikes against it looking forward,” Scott Kirby, president of American Airlines Group Inc., told analysts on Friday, adding that Europe was the only region where he expects to see sequential declines in the third quarter."
The world's weakest trading block, is about to get even weaker. And where will Europe look for a lifeline? Britain? Hahahahaha. America? China?
Sorry, Europe you are on your own in this one.
Brexit is looking more, and more prescient.