The Federation of Associations in Indian Tourism & Hospitality (FAITH), the federation representing entities in the tourism, travel and hospitality industry, has appealed for an immediate relief package from the government to stay afloat and avoid job losses.
Over 95 percent MSMEs of 53,000 travel agents, 115,000 tour operators, 15,000 adventure, 911,000 tourist transporters, 53,000 hospitality and five lakh restaurants are facing the heat due to lack of cash flows, said the federation. This industry employs an estimated 3.8 crore jobs.
The Indian tourism industry, in 2018-19, handled business of over 10.5 million foreign tourists, more than five million visiting NRIs, 1.8 billion domestic tourist visits and over 26 million outbound travellers.CLOSE
“The industry is facing its biggest economic challenge with the larger and combined effect of 9/11 and the slowdown of 2009 and estimated bigger effect than the Economic Depression and World War II,” said FAITH in the report.