Travel News – Mood of disappointment looms large on the travel & tourism industry

The hopes of the travel & tourism have been completely washed out with no relief in the Union Budget FY22, and the outlay for the sector being reduced from INR 2,499.83 crore in 2020-2021 to INR 2,032.04 crore in 2021-2022.  Travel trade associations had submitted a slew of suggestions to the government seeking urgent support for the industry on life support after a dismal 2020 due to the pandemic-induced restrictions.

Jyoti Mayal, President, TAAI said, “We expected much more from the Budget. Travel, tourism and hospitality industry was completely neglected. The Budget on the whole is about empowering people, greater economic freedom, infrastructure but all that is all long-term,  and the relevance of travel & tourism has been undermined.”

 “The tourism industry employs 75 million people directly or indirectly. Had Government offered some sops to the industry, 40-45 million jobs which are on the verge of extinction could be saved,” said Subhash Goyal, Founder Chairman, STIC Travel Group.

Industry Reaction

Sonica Malhotra Kandhari, Joint Managing Director, MBD Group

We were looking for some measures related to travel & hospitality sector such as awarding infrastructure status to the hospitality industry and to reduce GST rate on hospitality which have not been addressed in the budget. These reforms would have helped in the revival of this industry as it has been severely battered by the pandemic.

Ankur Bhatia , Executive Director, Bird Group 

We expect a full throttle vaccination programme augmented by the INR 34,000 crore funding will bring the long awaited cheer to the sector. People will start flying with confidence for leisure like during pre-Covid times after being significantly emboldened by inoculation against the virus.

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