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

  • 01 WTM 2020
  • 02 WTM London 2020
  • 06 ITB Asia 2020
  • 13 traveldaily20
  • 16 FHC 2020
  • 16 G&A 2020
  • 16 ITB asia 2020
  • 16 TAAPE 2020
  • 17 GWS-2020
  • 23 emitt 21
  • 30 PATA

TRAVEL INDUSTRY EVENTS

    1. KITF

      September 24 - September 26
    2. routes asia

      October 8 - October 10
    3. FOIRE DE TOURS 2020

      October 10 - October 18
    4. Aviation festival americas

      October 15 - October 16
    5. Mediterranean Resort & Hotel Real Estate Forum (MR&H)

      October 19 - October 21
Get our toolbar!
Review www.travelandtourworld.com on alexa.com