TRAVEL AND TOURISM DURING COVID-19 IN INDIA – AN EXPLORATION
Description
This paper aims to study the impact of Covid-19 induced lockdown on the Indian tourism and hospitality industry. It is estimated that tourism industry would face a loss worth 10 lakh crore due to the pandemic. The sharp drop in international tourist footfall is going to cost an estimated 29 billion US dollar loss in foreign exchange to Indian economy. The turbulence caused by the Covid -19 restrictions is estimated to incur a revenue loss of around 25000 crores to the aviation industry. Further it is expected that there will be a 30-50 per cent decline in revenue per available room during the next fiscal year 2021. The impact of Covid- 19 would be felt on both white- and blue-collar jobs with the industry being on the verge of a potential loss of around 38 million jobs. The revival strategies should be prudent, implementable as well as sustainable in the long run. Government should promote structural transformation that could build a more strong and resilient Indian tourism and hospitality industry.