As the world slowly turns back to the new normal with social distancing and online activities, but to avoid the import of COVID-19 virus the international travel restriction continues.
The tourism industry is facing the biggest economic challenge all over the world while compared to 9/11, the 2009 Economic Depression, and World War II. When the virus outbreak happens all the cash inflows of the industry have completely frozen.
As an early estimate in the hotel and aviation sector alone 70-75 per cent of the business is compressed. It is difficult to access the full impact and, surely, it has a wide and deep ripple effect because of the widespread activities of the travel and tourism Industry
80 per cent of tourism industry holds by small and medium enterprises and another portion composed of the craftsmen, artisans, and artists in the cultural sector, and other service providers who depend on tourism for their daily existence.
Across the globe, Governments are marked tourism is their top priority and banking on tourism for their economic revival at the moment.
Many countries like the USA, UK, Singapore, Thailand, Australia, and Indonesia already have support measures through salary support and tax waiver for the Tourism industry to address the survival of large segments of the industry. If the reopening takes time, which it most likely would, then it should look at the overall recovery.
Organizations like FAITH, IATO, IATA, urges the Government to declare immediate survival measures to prevent mass bankruptcy and crores of unprecedented layoffs. Indian tourism Industry need support in the area of, credit guarantee, provision of liquidity, rationalization of GST, payroll support, tax reviews and easing of regulations inhibiting transport and tourism
The repeated requests from Indian Tourism industry bodies regarding the set of survival measures for tourism were not addressed in the announced ₹ 20 lakh crore package. The final announcement of the Atmanirbhar Bharat Abhiyan package has put the Tourism Industry bodies into a state of shock.
For the economic revival of countries, all Governments across the globe are made financial packages on tourism. They are willing to take a risk through an opening of tourist destinations and kick-start tourism to make economies back on track because tourism contributes approximately 10 percent of the world’s GDP. Even though leading health experts have warned against the re-opening of tourist sites stating that the pandemic is ”far from over,” governments are still willing to take the risk
Domestic Travel and Tourism will not be in terms of generating foreign currency revenues, at least for the time being it will be the substitute for outbound tourism.
In these turbulent and uncertain times, yoga can help us to enhance health and increase productivity which makes us feel happy and stress-free
Stay safe, Travel Tomorrow.
Rajani. A
Editor
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