The impact of the deadly coronavirus on the economy is guaranteed to be significant, according to economists.

There are 12 confirmed cases of the coronavirus in Australia, and more than 14,000 worldwide.

Flights have been cancelled after the government announced foreigners travelling from China will be banned from entering the country.

ANZ Bank Chief Economist Richard Yetsenga tells Brooke Corte it will have an effect on universities.

“We know that 50 per cent of international students are Chinese.

“China’s a big deal. China is Australia’s largest trading partner… there are going to be meaningful impacts here.”

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International Education Association CEO Phil Honeywood tells Brooke they will be assisting affected international students.

“We’ve got a number of universities who agreed to push their start dates back.

“The students stuck in quarantine… and the term has started, then they’ve been given online learning.”

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Image: Getty/Anthony Kwan