N.Y.C.’s Economy Could be Ravaged by Coronavirus Outbreak
The sudden and prolonged shutdown of New York City’s museums and its iconic Broadway theaters. Restaurants and bars also closed except for take out and delivery. Hotels struggling to stay open in the face of a wave of canceled reservations. Movie theaters shuttered. The evaporation of nearly all business and leisure travel to the city.
The coronavirus pandemic is all but bringing life to a halt in the nation’s largest city, slamming the brakes on what had been a robust economy and leaving New York, which has more than 25,000 restaurants and 120,000 hotel rooms, confronting a dire threat that experts say will surely lead to sweeping layoffs and business failures.
The fallout could be more widespread than the economic damage from either of the past two crises the …continued .
[Source: New York Times]