InvestorQ : How much has the COVID-19 impacted jobs and employment in the tourism sector in India overall?
vaishnavi mhatre made post

How much has the COVID-19 impacted jobs and employment in the tourism sector in India overall?

Answer
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Mary Joseph answered.
3 months ago


The industry body has confirmed that nearly 20 lakh have lost their jobs and another 20 lakh could be staring at job losses in the next few months if the conditions continue to remain tepid for the tourism sector. Most private tourist services have been off the roads and that has led to huge job losses.

As a result of limited business flows, members are struggling to pay salaries and wages to employees. The sector employs nearly 1 crore people. The industry body estimates that nearly 20% may have already lost jobs and another 20% job losses could be on the anvil. Things could get worse once the EMI moratorium is over and loan pressures start.

This industry has been seeking waivers of loan interest and tax breaks to help them come out of the crisis. Most vehicles have been idle for last 3 months but fixed costs have been still going on. Even for existing loans they want the tenure to be extended by a year and operators should not be burdened with EMIs.