Impact and Survival Strategy for Hospitality Industry after Covid-19

Authors : Anu Chaudhary

Volume/Issue : Volume 5 - 2020, Issue 11 - November

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Travel and tourism industry is said to be second largest employer in world subsequently resulting India is one of the most profitable country in terms of tourism. Today India contributes foreign exchange business, hotel and restaurant to social development promoting education, which ultimately results in increasing stretch at our economy globally. As we know tourism sector has a significant role as a contributor to the country GDP. But during the month of March we saw sudden shut down of tourist attraction in the country, flight come halt completely and for the first time in history Indian railways was completely stagnant in their yards. These incidents raised major grim that will cause to the tourism and travel industry in the country. Despite of several effort by the central govt.and state govt., unfortunately the virus increasing day by day till now its 2lakh 65 thousand (09/06/2020). Researcher suggested the travel has become one of the main sources of carrying the Covid virus because of that airline industry grounded by government. It has resulted as a hard blow of pandemic as it launched itself wholly on 17th march 2020 shutting over Iconic heritage Taj Mahal. Covid-19 affected the whole world Economy resulting downfall in the graph of foreign Exchange as there are no tourists from foreign countries in India which lead to 60%-70%(approx) to shut hospitality sector completely and as a result it gave rise to unemployment. More over we can expect domestic tourism to utilize more in the country that will help the government to recover gradually and create more employment. It’s sure that the coming two years would be very challenging for the Hospitality Industry to revive, stabilize & to grow

Keywords : Travel and Tourism, Employment, Tourism Trends, Social Development, Foreign Exchange.


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