Corona snatches 40 mn jobs in India Tourism Industry

Indian tourism and hospitality industry is staring at a potential job loss of around 38 million, which is around 70% of the total workforce, due to the Covid-19 impact. Foreseeing bankruptcies, closure of businesses and mass unemployment, the Federation of Associations in Indian Tourism & Hospitality, the umbrella body of the industry, has written a letter to Indian Prime Minister Narendra Modi to highlight the devastating economic impact of the coronavirus pandemic on the tourism industry, seeking his intervention in terms of financial relief for the industry to tide over the crisis. According to FAITH, around 70% out of a total estimated workforce of 55 million, around 38 million could get unemployed. This effect of job losses and layoffs has already begun throughout the country. Travel and tourism industry has been hit economically globally and in India due to the outbreak of Coronavirus with many prospective domestic and foreign tourists cancelling their travel plans. This global pandemic has prompted the Indian government to impose increasingly tough restrictions on travel resulting in further drop in hotel occupancies since the imposition of the ban. A large percentage of total tourism business activity of India, which is estimated at $28 billion-plus in forex and upwards of 266.7 billion dollars in domestic tourism activity will be at economic risk through the year.