Rs 1.25 trillion loss to tourism sector due to closure of airlines and hotels

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Mumbai, Ta. Wednesday, April 29, 2020

The country's tourism industry is projected to lose Rs 1.5 trillion in the current calendar year due to the closure of airlines and hotels due to the Kovid-12 epidemic. A report by CARE Ratings estimates that the current year's revenue will decline by 20% compared to the calendar year 2017.

The coronavirus is expected to hit the tourism industry by 20 per cent in January and February this year, compared to 30 per cent in March. The cancellation of international flights has had a direct impact on the tourism sector.

From April to June, the country's tourism industry is likely to lose Rs 200 crore in revenue, which is expected to grow by 50 per cent year-on-year.

Kovid-12 has affected the tourism industry around the world. Most of the bookings for summer vacations have been canceled due to travel restrictions imposed by the Government of India and other governments of the world. In the calendar year 2016, the number of foreign tourists in India was 1.08 crore.

Maharashtra, Uttar Pradesh, Delhi and Tamil Nadu are the main destinations for foreign tourists. Industry sources also said that most of the hotel operators in India have been forced to postpone their capital expenditure plans due to the impact on trade.

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