Impacts of Covid-19 on Indian Travel & Tourism Industry

Author:S.K.S. Yadava*, Mohd. Mohsin Qureshib

Abstract:
India is a geographically vast country and is a tourist delight with a rich historical background and cultural heritage. Tourism is an important economic activity and also a one of the stronger pillar of the economy. In India, travel and tourism industry has been a remarkable contribution to the country's GDP. Not only GDP, tourism has always a huge source of foreign exchange earnings and significant contributor to employment generator for the country. The sudden outbreak of Novel Corona virus (Covid-19) around the globe has became a strong breaker for the tourism industry because of the pandemic situation around the globe will become a cause of changes in behavior and preferences of tourists. Due to this virus threat, tourists have cancelled their programs and this fear has drop down the tourist graph. With the large scale travel restrictions, quarantines, social distancing and lockdown, Covid-19 has given a major impact on the economic development worldwide. Due to resulting travel restrictions and drop in demand, Covid-19 pandemic also impact tourism industry significantly. This study attempts to try to understand the tourism sector importance in Indian economy and examine the impact of Covid-19 outbreak on the Indian travel & tourism industry. This study is analytical in nature and use secondary source of data of Indian companies which is engaged in travel and tourism sector and listed on National Stock Exchange (NSE) & Bombay Stock Exchange (BSE).

Keywords:Key Words: Covid-19, Tourism Industry, GDP, Economy.

DOI:10.46333/ijtc/9/2/5

International Journal of Trade & Commerce (Vol: 9 Issue:2)