Indian travel, tourism & hospitality sector is utter disappointed on the recent FM’s package

Published on : Thursday, May 21, 2020

The travel, tourism and hospitality sectors were upset as well as disappointed over what they said was the silence of the government on various financial steps to keep the sector from massive decline or include it in the Rs. 20 lakh crore package declared last week by the Union government.


Industry bodies have explained that travel, tourism and hospitality in India accounts for about 10% of the GDP. However, it didn’t find any mention in the government’s plans for economic revival. The Federation of Associations in Indian Tourism and Hospitality (FAITH) stated that regular discussions between the industry ministries turned futile, leaving them in “shock and disbelief”.


To quote FAITH CEO, Aashish Gupta, “Direct and indirect and indirect economic contribution of the tourism industry in India which includes airlines,hotels and others is estimated at about 10% of India’s GDP. No cash flow is expected for many quarters over FY20-21 for key segments like international inbound and outbound travel. What will the companies do? We are now looking at large-scale bankruptcies and job losses across cities and towns.”


(No Like Yet)

Related Posts

Tags:

Comments are closed.

arrow2Follow TTW
 
facebook-logo  twitter-logo  LinkedIn_logo  rss_logo 
ttw_blogger_logo  ttw_blogger_logo

ADVERTISEMENT

  • 02 ITB asia 2020
  • 11 Aviation Festival Asia 2020
  • 12 ITE Hong Kong 2020
  • 13 IMEX 20
  • 15 Digital Travel EU 2020
  • 15 Routes Asia 2020
  • 16 G&A 2020
  • 16 TAAPE 2020
  • 17 AAA-banner 2020
  • 18 WCTIE 2020
  • 20 GWS-2020
  • 23 emitt 21
  • 30 PATA

TRAVEL INDUSTRY EVENTS

    1. AIR CONVENTION ASIA 2020

      June 9 - June 11
    2. HOTELEX 2020

      June 15 - June 18
    3. B-TRAVEL 2020

      June 19 - June 21
    4. Forum de l’Investissement Hôtelier Africain

      July 7 - July 9
    5. DRT SHOW SHANGHAI

      July 17 - July 19
Get our toolbar!
Review www.travelandtourworld.com on alexa.com