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Thomas Cook's collapse hurts global tourism industry

Posted On: Sep. 27, 2019 6:55 AM CST

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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