An expert in disaster economics believes fear is needlessly fueling the economic impact of the coronavirus outbreak.
Statistics from China indicate that about 2 per cent of people infected with the new virus have died, suggesting it may be deadlier than seasonal flu but less deadly than SARS, which killed about 10 per cent of infected individuals.
Ilan Noy is a professor of economics at Victoria University in Wellington and the Chair in the Economics of Disasters.
He believes panic over coronavirus is disproportionate to the actual epidemic - but is having a big impact on the global service and tourism sectors, as well as global supply chains.
Photo: AFP
