Budget 2021 recommendations for FY21-22 by the Hotel Association of India
Among the various service sectors, Tourism and Hospitality is the second largest contributor to the national GDP and employment growth after IT sector. The Covid-19 pandemic has had a devastating impact on the economy in general and the tourism and hospitality sector in particular. The Reserve Bank of India has recognized hotels as one of the most severely impacted sectors. Over 90% of the hotel rooms in India fall in the category of economy, budget and mid-market segments and serve mostly Indian travellers.
The hospitality business is likely to take two to three years’ time to bounce back to pre Covid-19 levels. Government’s support is crucial in speeding up return to normalcy of the hospitality industry at a fast pace: pic taken from youtube.com