New Delhi: Coronavirus epidemic (Covid-19) has broken the entire supply chain of the domestic tourism and the travel sector. According to a report by the Confederation of Indian Industry (CII) and hospitality consulting company Hoteliwate, the sector is estimated to suffer a loss of Rs 5 lakh crore, or $ 65.57 billion.
The Hotel Industry lost $ 25 billion
The hotel industry alone in the organized tourism sector is expected to suffer a loss of $ 25 billion. These figures are alarming and the industry needs immediate relief to save its existence. According to the report, “It is one of the biggest crises facing the Indian tourism sector.” It has influenced tourism in all categories domestic, Inland, and International. Luxury, adventure, heritage, cruise, corporate, etc. have affected all types of tourism. “
The lockdown and softening in the market were expected to have an impact by October itself. But now the figures show something else. According to the current trend, by the beginning of next year, only about 30 percent of the rooms in hotels will start filling up. This will reduce the income of hotels from 80 to 85 percent.
Epidemic brokeback
According to the report, “Coronavirus epidemic has broken the back of the Indian travel and tourism industry. This has affected the entire supply chain. Due to this, the industry is estimated to lose about five lakh crore rupees, or $ 65.57 billion. In this alone, the organized tourism industry is likely to suffer a loss of $ 25 billion. “
According to the study, 80 percent of the rooms in hotels were filled at the busiest time in January. It came down to 70 percent in February, 45 percent in March, and seven percent in April. In May, June, July, and August, this rate was 10 percent, 12 percent, 15 percent, and 22 percent respectively. It has been estimated to rise to 25 percent in September, 28 percent in October, 30 percent in November, and 35 percent in December.
