Singapore tourism hit by Zika virus scare

But analysts believe the impact is still milder than SARS.

While the health implications of the Zika virus are serious, some travelers deem them less dangerous than that of the SARS virus.

According to OCBC, non-pregnant travellers are not very worried about the outbreak despite cases being reported in different parts of the city-state.

A particular strain of the Zika virus is more risky among pregnant women with risk that may go as high as 13% according to a report by Washington Post.

From March to July 2003, Singapore reported that 238 people had been infected by SARS while 33 of which died. During the SARS episode, tourist arrivals fell 14.5% to 70.7% YoY in March to May 2013, OCBC said.

Assuming the number of confirmed Zika cases remains less than 500, OCBC expects the impact of a Zika outbreak to be milder than that of SARS.

Despite the optimism, share prices of hospitality business in Singapore crept down as news of Zika outbreak in the city-state scared some travellers off.

OCBC also revealed that share prices of CDL Hospitality Trust, Far East Hospitality Trust, and OUE Hospitality Trust softened by around 1% to 3% since the announcement of 41 locally transmitted cases on August 28.

Countries like Australia, Taiwan, and United Kingdom already issued advisories for travelers to Singapore following the outbreak.