Covid-19’s impact – Tourism industry worst hit ; unemployment shoots up

• The Confederation of Indian Industry (CII) has published an estimate in which organized sector might incur losses of 1.58 lakh crore.

Coronavirus has affected the market globally and tourism industry is no such exception. Moreover it has affected the tourism industry most adversely. The industry fears a loss of Rs 5 lakh crore while leaving 4-5 crore people unemployed. The organized sector of the industry, which includes branded hotels, operators and travel agencies may suffer the biggest loss amounting to Rs 1.58 lakh crore. An estimate loss of 25 thousand crores to tour operators is also predicted.

According to CII,

• Hotel industry are expected to suffer losses of Rs 1.10 lakh crores.
• Online travel agencies are estimated to incur a loss of 4 thousand 312 crores.
• Adventure tour operators can experience a loss of 19 thousand crores
• Cruise tourism losses can add upto 419 crores 

However, Tourism industry can get a ray of hope from the government. According to media reports, the Ministry of Tourism has asked the government to help the tourism industry. Suggestions such as low interest loans, working capital and relief in loan repayment are initiated.

Apart from the organized sector, the tourism industry also employs people with small jobs that aid them. According to a report published by the

World Economic Forum, due to the coronavirus, the hotel occupancy in the world has remained in single digit and presently there lies no hope for improvement. 

Globally travel and tourism industry may lose 60% to 70% of its revenue this year.

In India cases rise to 15,712; death toll rises to 507

According to data, the number of Covid-19 infected people worldwide has crossed 2 million. So far, the epidemic has killed 1,44,000 people worldwide. America is most affected by this. It has killed 35,000 people in the US and infected over 7,00,000 people. 

Since the total of 1063 new cases reported in India in the last 24 hours, the number of people infected with the Covid-19 epidemic, including foreign nationals, has increased to 15,712 by Sunday morning in the country. The Ministry of Health has given information about this. The Ministry of Health, presenting the latest data in the morning said that a total of 12,969 Covid-19 are currently infected with the pandemic. A total of 2,232 patients who have recovered fully after treatment have been discharged from the hospital, while 507 people have died due to the epidemic.