IMPACT OF COVID ON TOURISM INDUSTRY
TOURISM INDUSTRY
In this blog, we’re discussing in brief the impact of Coronovirus/Covid-19 outbreak on the travel & tourism industry in India
Before COVID-19, travel and tourism had become one of the most important sectors in the world economy, accounting for 10 percent of global GDP and more than 320 billion jobs worldwide.In 1950, at the dawn of the jet age, just 25 million people took foreign trips. By 2019, that number had reached 1.5 billion, and the travel and tourism sector had grown to almost too-big-to-fail propor- tions for many economies.
The global pandemic, the first of its scale in a new era of interconnectedness, has put 100 million jobs at risk, many in micro, small, and medium-sized enterprises that employ a high share of women, who represent 54 percent of the tourism workforce, according to the United Nations World Tourism Organization (UNWTO). Tourism-dependent countries will likely feel the negative impacts of the crisis for much longer than other economies. Contact-intensive services key to the tourism and travel sectors are dispro- portionately affected by the pandemic and will continue to struggle until people feel safe to travel en masse again.
Coronavirus impact may render 3.8 crore people jobless in tourism, hospitality sector. The Federation of Associations in Indian Tourism & Hospitality (FAITH) also said there should be a support fund for twelve months to support basic salaries with "direct transfer" to the affected tourism employees.
Travel & tourism industry in India has been a significant contributor to the country’s GDP. The sector even generates a large employment base. So when by mid-March, the popular tourist attractions in India started to close down, and the news on putting a halt on flying began to make rounds, we all started to predict the grim future of the travel industry in the country already. In fact the shutting down of the iconic Taj Mahal on March 17, 2020, which attracts millions of visitors every year, was a sign enough to assess the hard blow this pandemic was launching at us.
Effect of COVID:-
- On account of Coronavirus, the Indian tourism and hospitality industry is expecting a potential job loss of around 38 million.
- In the third week of March 2020 itself, the hotel sector saw a decline of more than 65% in occupancy levels as compared to the same period in 2019.
- With international and domestic travel on halt, demand for turbine fuel has substantially declined.
- Indian Association of Tour Operators (IATO) estimates the hotel, aviation and travel sector together may suffer a loss of about ₹85 billion keeping in mind the travel restrictions imposed on foreign tourists.
- Impact of Covid-19 would be felt on both white and blue collar jobs.
- India’s outbound and inbound travel will witness an all time low.
- The restaurant industry in India is expecting almost zero revenue in the immediate term, and a drop of 50% in the months to come.
- At least 30 per cent of hotel and hospitality industry revenue could be impacted if the situation doesn’t improve by the end of June 2020.
- There is a threat of job loss of nearly 15% in the hotel and restaurant industry once the lockdown is lifted, as they will not see an immediate surge in demand.
- Aviation industry in India could incur losses worth ₹ 27,000 crore ($3.3-3.6 billion) in the first quarter of 2020-21.
- The passenger growth of airlines is likely to fall sharply to a negative 20-25% growth for the 2020-21.
Coronavirus may have brought the pace of travel & tourism industry in India to a complete halt, but it hasn’t yet defeated the spirit of the people involved in this sector. The blow may seem harsh but there’s still hope left. We believe, if we persevere and stay in this together, you as travellers and we as operators, we will get through this what right now feels like a nightmare. Our request to you is to not give up on your plans of domestic travels this year. Once things are in place, we will be back with our unmatched travel services. Remember like everything else in our lives, This Too Shall Pass.
Tourism industry is probably the worst hit sector due to the pandemic and the consequent restrictions imposed during the lockdown period and also beyond. Revival of this industry should be a prime concern for GOI. Tourism industry in India requires a push for its revival and immediate reliefs under GST laws will bring an impetus to this sector to survive from this never-seenbefore global economic crisis.
COVAXIN®, India's indigenous COVID-19 vaccine by Bharat Biotech is developed in collaboration with the Indian Council of Medical Research (ICMR) - National Institute of Virology (NIV).
The vaccine is developed using Whole-Virion Inactivated Vero Cell derived platform technology. Inactivated vaccines do not replicate and are therefore unlikely to revert and cause pathological effects. They contain dead virus, incapable of infecting people but still able to instruct the immune system to mount a defensive reaction against an infection.
By using this covaxin vaccine everone in our will recover and this vaccine will boost immunity so by this ourtourism will start again.
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