Business travel hit as coronavirus spreads

With the dissemination of coronavirus from China (the source of its germination) to Southeast Asia, the Far East and Europe, companies across the world are imposing restrictions on business travel by staff. Firms like Tata Consultancy ServicesNSE 0.87 % (TCS), Nestle, HSBC, Paytm, Franklin Templeton are also encouraging videoconferencing and working from home. Similarly, employees are also being screened for recent travel to affected countries. The BNP Paribas office in Mumbai has imposed a global 14-day, self-quarantine on people from high-risk countries during which they work from home.

Hitendra Dave, head of global banking and markets at HSBC India, stated, “If you are in the thick of the action, then naturally there will be an advisory or a restriction. Any travel that has to be undertaken now requires a higher level of approval… A lot of roadshows are now phone shows.”