‘The entire value chain will be affected by the COVID-19 outbreak’
The coronavirus outbreak has brought the entire world to a standstill, particularly the travel & tourism industry. The Indian tourism industry like most across the globe stands to lose thousands of crores and millions stand to lose their jobs if the COVID-19 outbreak is not controlled soon enough.
With the Indian government announcing a complete lockdown on travel till April 15th bookings are seeing the sharpest ever decline and The Indian tourism industry has seen in the recent future.
Globally, hotel chains, airlines, tour operators and OTAs are facing a washed-out first quarter of the year, with multiple worldwide and local bans and travel restrictions getting enforced each day in a bid contain the growing COVID-19 outbreak.
India's biggest OTA MakeMyTrip said on Tuesday it is not levying any fee for processing cancellation or rescheduling requests for domestic as well as international flights up to April 30.
Following the tourist visa ban which is expected to be in place till April 15, India has also banned all arrivals from the European Union, the UK, and Turkey from March 18 till the end of this month.
People are wary of long quarantine periods if they have traveled to the majorly affected countries or get infected by the fast-spreading virus.
Restaurateur Ankkit Bahadur said The current crisis is going to have a long term impact on the entire value chain of the travel & tourism industry, particularly the smaller players. The industry will have to stand together to tide over the current crisis, not everybody in the value chain will survive the crisis, take the case of restaurants, mall developers and property owners must support tenants during this time as it will hard to keep paying overheads & salaries without business.