Travel agencies' revenues plunged further in May
Major travel agencies saw revenues plunge even further in May as border shutdowns continued.
Publicly-listed Lion Travel posted NT$64 million in revenue last month, saying that was less than 3% of the figure in May of 2019. It also marks the poorest single month performance in the agency's history.
Lion's revenues during the first five months of the year, at NT$4.6 billion, also dropped by 64% compared with the same period last year.
Phoenix Tours equally suffered with only NT$10.6 million in revenue in May, a decrease of 96%. Travel-4-U and Life Tour, two smaller publicly listed agencies, fared even worse.
The Tourism Bureau on 19 March ordered all travel companies to stop inbound and outbound packaged tours due to the coronavirus outbreak and this ban has been extended twice until 30 June.