Thomas Cook's collapse hurts global tourism industry

The collapse of Thomas Cook Group PLC's is sending shockwaves through the global tourism industry, Business Day reported citing Bloomberg. Spain's tourism industry is expecting a €200-million ($219 million) hit, while Cyprus' hospitality industry is expecting a hit of €175 million. Turkey is likely to lose £100 million ($123 million) and Greece's tourism confederation estimates the collapse to cost the country up to €500 million.

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