Impact of the Corona virus pandemic on the India Tourism Industry.
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New Delhi: The coronavirus pandemic could deal a crippling blow to the Indian travel and tourism industry, specially with the government suspending all visas, with the economic impact being assessed to run into thousands of crores of rupees. According to industry chamber CII, this is the one of the worst crises ever to hit the Indian tourism industry impacting all its geographical segments - inbound, outbound and domestic, almost all tourism verticals - leisure , adventure, heritage, MICE, cruise, corporate and niche segments.
The whole tourism value chain across hotels, travel agents, tour operations, destinations, restaurants, family entertainment venues and air, land and sea transportation have been hit.
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for an end to the pandemic. Two standards must be met. In the United States and most other developed economies, herd immunity is most likely to be achieved in the third or fourth quarter of 2021. Key variables are the arrival, efficacy, and coverage of vaccines; we anticipate four scenarios (Exhibit 1). A return to normalcy might come sooner, possibly in the first or second quarter of 2021. Every day matters, for lives and livelihoods.
Exhibit 1
On the economic front, the COVID-19 crisis presents the greatest challenge in a decade for the auto sector. Global sales of light vehicles in 2020 might decline 20 to 25 percent from prepandemic forecasts. In the hardest-hit countries, sales could fall by 45