Around 40 per cent companies operating in the travel and tourism sector are staring at the risk of complete shutdown over the next 3 to 6 months, says a report, even as the domestic flights resume operations after over 2-month suspension due to lockdown. Also, nearly 36 per cent of such companies are likely to witness a temporary shutdown, according to the report by BOTT Travel Sentiment Tracker in partnership with seven national associations like IATO, TAAI, ICPB, ADTOI, OTOAI, ATOAI and SITE. ..
The report said that 81 per cent travel and tourism companies have lost their revenue up to 100 per cent while 15 per cent of the companies have witnessed it slide up to 75 per cent.
The BOTT Travel Sentiment Tracker survey was done online with over 2,300 travel and tourism business owners and company representatives across the country over a period of 10 days.
“The pandemic has hit the travel and tourism sector hard with as many as 40 per cent companies facing the risk of complete shutdown in the next 3 to 6 months while another 35.7 per cent might go for a temporary shutdown,” it said.
The survey report further revealed that 38.6 per cent travel companies are going for job cuts and another 37.6 per cent of the companies are considering the option with uncertainty looming large.
“The travel and tourism sector is going through a very bad phase. It has taken a severe beating due to the COVID-19 outbreak with lakhs of people dependent on it suffering immense losses and job cuts,” the report said.
