The Big Covid-19 Impact
Hotelier India|April 2020
Covid-19 has rudely pulled the rug from under the feet of the hospitality industry, leaving it in a state of complete disarray. India’s biggest hoteliers offer opinions on the crisis, the cost-rationalisation measures it has forced them to take, what they need the government to do, and what will it take to recover
The Big Covid-19 Impact

The Novel Coronavirus pandemic has hit 150 countries, affecting over 800,000 people and leaving several thousand dead. And the count keeps goings up, every single day. Even as the world waits for the curve to flatten, for a drug cure to be found and a vaccine to be discovered, many are facing the prospect of unemployment, job loss and social disruption.

The pandemic is uncharted territory for the hospitality industry. While most industries have been badly impacted and world economies are in recession, it is the hospitality and travel industries that have been crippled globally.

Industries that depend on people travelling, for work and pleasure. With over half of the world's population under lockdown due to COVID-19, the crisis that began sometime in early December in China, before spreading its tangled web across the world, will continue to unfold for a while.

The potential losses and disruptions

India’s hospitality industry was on overdrive before things went downhill:

  • India is third-largest globally in terms of investment in travel and tourism. In 2018, US$ 45.7 billion was invested in the country, says World Travel and Tourism Council (WTTC).
  • KPMG estimates that the tourism and hospitality sector accounted for 7.5% of the country's GDP in 2019.
  • KPMG expected the hospitality sector to grow at 16.1% CAGR, to reach Rs 2,796 crore in 2022.

Now, WTTC estimates up to 50 million jobs in the travel and hotel industry are at risk due to the global COVID-19 pandemic; several of those are likely to be in India.

Bu hikaye Hotelier India dergisinin April 2020 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

Bu hikaye Hotelier India dergisinin April 2020 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

HOTELIER INDIA DERGISINDEN DAHA FAZLA HIKAYETümünü görüntüle
A Match Made in India
Hotelier India

A Match Made in India

Director General of Tourism Mugdha Sinha's grand vision for wedding tourism...

time-read
6 dak  |
November 2024
Tee Off in Style
Hotelier India

Tee Off in Style

Hoteliers are giving golfing facilities a boost even as they offer putting greens that make the sport popular.

time-read
4 dak  |
November 2024
Bespoke Getaways: What Makes Them Desirable?
Hotelier India

Bespoke Getaways: What Makes Them Desirable?

Boutique hotels are increasingly becoming the first choice among discerning guests as they provide meaningful breaks.

time-read
5 dak  |
November 2024
Why Western Couples are Choosing India for Their Big Day?
Hotelier India

Why Western Couples are Choosing India for Their Big Day?

Decoding the reason, and how to cater to them...

time-read
2 dak  |
November 2024
Blending Tradition with Innovation
Hotelier India

Blending Tradition with Innovation

The balance of honouring tradition while adding a dash of modern flair is what keeps the culinary scene fresh and exciting...

time-read
3 dak  |
November 2024
DON'T THINK, OUTSIDE THE BOX
Hotelier India

DON'T THINK, OUTSIDE THE BOX

The oft-quoted maxim, \"Think out of the box!\" does little to encourage creativity or innovation and often is their enemy.

time-read
3 dak  |
November 2024
Putting the Wow into Weddings
Hotelier India

Putting the Wow into Weddings

As hotels become the preferred venue choices for weddings, the industry is certainly shaking things up.

time-read
6 dak  |
November 2024
Innovation Is Not an Option but a Necessity
Hotelier India

Innovation Is Not an Option but a Necessity

Emphasizing the need for the Indian hospitality sector to innovate and disrupt itself in the current transformative period.

time-read
4 dak  |
November 2024
Why Marriott built its GCC in India?
Hotelier India

Why Marriott built its GCC in India?

Drew Pinto, Executive Vice President and Chief Revenue & Technology Officer of Marriott International, tells Hotelier India all about finding the best talent in India...

time-read
5 dak  |
November 2024
FROM POTENTIAL TO POWERHOUSE
Hotelier India

FROM POTENTIAL TO POWERHOUSE

In an exclusive and candid interview with Hotelier India, Gajendra Singh Shekhawat, India's Minister of Culture and Tourism, speaks about how tourism and hospitality will power India's economy by 2047.

time-read
8 dak  |
November 2024