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Major Economy Travel & Tourism Headlines
Last Month (May 2019)
Micro & Macro Economic Trend KHOA

• President Trump decided to end exemptions from sanctions for countries still buying oil from Iran. Waivers for
China, India, Japan, South Korea and Turkey expired in May, after which US sanctions themselves. This decision

is intended to bring Iran's oil exports to zero.

• Oxford Economics has revised upwards its oil price forecast for the year, primarily due to rising supply

concerns, set against a backdrop of solid demand. Brent crude is now expected to average US$71 per barrel in
2019, up from the previous forecast of US$64 per barrel.

• Global stock markets have slumped after President Trump's unexpected threat to double tariffs on US$200bn

of Chinese goods, amid claims Beijing is trying to row back on a trade deal.

• A wave of travel cancellations has hit Sri Lanka in the aftermath of the terror attacks on Easter Sunday. In the

three days immediately after the bombings, cancellations of existing bookings surged 86.2 per cent whilst new
bookings fell away.

• The African Tourism Board has met with officials from Mozambique to work on options to assist the country in
rebuilding its Travel & Tourism industry, after the country was hit by a devastating double cyclone in March.

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