SARS Scares Away Events and Travel

Severe Acute Respiratory Illness (SARS)—the highly contagious illness that has killed more than 80 people worldwide—has made local firms cut back on events in China and Hong Kong, according to Crain's New York. "Law firm Shearman & Sterling, which has four offices in Asia, has reportedly canceled its annual partners' conference, scheduled for this weekend in Princeton, N.J., because of health concerns," the article says, adding that companies such as insurance giant American International Group, UBS Warburg, Goldman Sachs, Lehman Brothers, Deutsche Bank and Merrill Lynch have restricted nonessential travel to the region until further notice. The article also adds that the Association of Corporate Travel Executives reported that "70 percent of business travel managers are curtailing trips to Asia because of the mysterious syndrome."

Posted 04.09.03

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