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Paris attacks may impact tourism

Monday, November 16, 2015 - 01:18

U.S. tourists are re-thinking plans to travel to Paris and Europe in the wake of the Paris shootings. Bobbi Rebell reports.

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The attacks in Paris that killed at least 129 people are affecting the tourism industry. U.S. citizens asking a lot of questions, and looking to cancel plans according to Megan Singh, project management director at travel insurance company SquareMouth.com SOUNDBITE: MEGAN SINGH, PROJECT MANAGEMENT DIRECTOR, SQUAREMOUTH.COM (ENGLISH) SAYING: "We've absolutely seen an increase in concern, an increase in calls and questions, because Paris is such a popular tourist destination. We expect that it will be a much greater impact to our industry and to travel insurance, in general, because of the popularity of that city. " She says there is a heightened sense of fear regarding Europe in general as well, where the majority of SquareMouth's travelers go. U.S stocks tied to travel were closely watched for signs of impact. And airline stocks did drop. Also moving to the downside: Cruise operator Carnival, as well as travel companies, like Expedia and Priceline. Wells Fargo Funds Management's John Manley thinks the selling is more pre-emptive than based on actual future loss of business: SOUNDBITE: JOHN MANLEY, CHIEF EQUITY STRATEGIST, WELLS FARGO FUNDS MANAGEMENT (ENGLISH) SAYING: "There probably will be some cancellations. There will probably be some people who aren't going to do what they would have done otherwise, but, I suspect, a lot of it is someone anticipating that someone else is going to anticipate it." Manley believes the impact will be short term, and the sectors will recover from the impact of the Paris shootings quickly.

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Paris attacks may impact tourism

Monday, November 16, 2015 - 01:18