Subject category:
Economics, Politics and Business Environment
Originally published in:
2022
Version: 20-Feb-2022
Length: 12 pages
Data source: Published sources
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Abstract
Due to the lockdown, the whole of India was seized; the most prominent industry to get impacted by this situation were Tourism and hospitality. The direct and indirect economic impact of the pandemic and the lockdown on the tourism industry in India is estimated at about 10% of India’s GDP. The tourism and hospitality industry has reached a staggering halt; travel, hotel, and aviation are suffering in the present adverse situation. Even if the covid-19 situation improves, the recovery of the industry will still take years to revive. Private companies without government financial support will not be able to recover. The industry has undergone gigantic economic turmoil, which if not addressed, may destroy the tourism and hospitality industry beyond repair. In addition to the economic impact, the business owners in the tourism and hospitality industry are going through psychological turmoil. The rising financial burden and decreased sources of revenue have created a situation of apprehensions, doubts, uncertainties, stress and pessimism. This may tend the owners to adopt drastic measures like insanity or suicide This case explores the economic and social impact of COVID-19 on the tourism and hospitality industry of India.
Teaching and learning
This item is suitable for undergraduate, postgraduate and executive education courses.Time period
The events covered by this case took place in 2019-2021.Geographical setting
Region:
Asia
Country:
India
Locations:
Uttarakhand;Himachal Pradesh;Delhi
About
Abstract
Due to the lockdown, the whole of India was seized; the most prominent industry to get impacted by this situation were Tourism and hospitality. The direct and indirect economic impact of the pandemic and the lockdown on the tourism industry in India is estimated at about 10% of India’s GDP. The tourism and hospitality industry has reached a staggering halt; travel, hotel, and aviation are suffering in the present adverse situation. Even if the covid-19 situation improves, the recovery of the industry will still take years to revive. Private companies without government financial support will not be able to recover. The industry has undergone gigantic economic turmoil, which if not addressed, may destroy the tourism and hospitality industry beyond repair. In addition to the economic impact, the business owners in the tourism and hospitality industry are going through psychological turmoil. The rising financial burden and decreased sources of revenue have created a situation of apprehensions, doubts, uncertainties, stress and pessimism. This may tend the owners to adopt drastic measures like insanity or suicide This case explores the economic and social impact of COVID-19 on the tourism and hospitality industry of India.
Teaching and learning
This item is suitable for undergraduate, postgraduate and executive education courses.Settings
Time period
The events covered by this case took place in 2019-2021.Geographical setting
Region:
Asia
Country:
India
Locations:
Uttarakhand;Himachal Pradesh;Delhi