November 24, 2022

“How India’s Travel and Tourism Industry Can Respond to the Impact of COVID-19”

Travel Union founder Dilip Modi writes his thoughts on how the travel and tourism industry is responding to the impact of Covid

The outbreak of the pandemic brought the whole world to a complete halt and created major disruptions in the lives of people around the world. It has also hurt the global economy, leading to large-scale job losses. Of all the industries that have suffered, the travel and tourism industry has been hit the hardest due to the lockdown and travel restrictions. According to a report by the World Travel and Tourism Council (WTCC), COVID-19 has caused the tourism industry nearly $ 22 billion and the loss of nearly 50 million jobs worldwide.

Much of our population that resides in rural or semi-urban areas has been part of the travel industry in one way or another. According to government data, nearly 21.5 million people lost their jobs during the 9-month period from April to December 2020. However, with massive vaccination campaigns across the country, the future India‘s travel and tourism industry looks promising. According to a report by market research firm RedCore, an arm of Bengaluru-based market research firm RedSeer, India’s travel and tourism market is expected to reach $ 125 billion by 2027 and has held up the spotlight on the 3 lakh + Indian agents, which are expected to cover over $ 65 billion of the overall market size.

Restoring confidence in tourism

While the past two years have been bumpy for the travel and tourism industry, with the lifting of COVID restrictions, the industry has seen good traction with the start of the holiday season. A majority of travelers embark on pilgrimages, a trend that will see a new boom in the post-COVID world, as people move away from short-haul city breaks to fewer flights and longer trips with purpose . After a long period of remote work, offices are now opening their doors to their fully vaccinated employees. This has given rise to business trips as more and more people return to their workplaces. When it comes to the education sector, students are now returning to the physical setup of the classroom as colleges are starting to pick up.

Leveraging technology and applications for more convenient commuting will help further increase that traction. We have already adapted to cashless payments and have ensured social distancing while doing day-to-day transactions. Implementing additional ideas like this can significantly restore the confidence of travelers. Technologically superior technological players can enter the market and offer personalized solutions to those involved in the travel and tourism industry. Businesses with the resources can help create a unified platform for the travel needs of agents, as well as end consumers. They can offer competitive margins for people acting as intermediaries as well as reasonable prices for clients. When a person wishes to travel, he must take into account various aspects; from booking tickets to hotel reservations, other travel and transportation reservations.

As the country brings the virus under control, travel will see an upward trend as people are tired of being stuck at home, many unemployed for months and having to travel to support their families. There’s a pretty interesting term going around – “revenge journey,” which simply means that after being locked in our homes for months, people will travel even more and be away from home more often. Considering the above facts and trends, it won’t be wrong to say that this is definitely the start of a bullish period for our travel industry and its related businesses. Not to rule out the fact that there is a possibility of a third wave, but with the majority of our population being vaccinated and aware of the necessary precautions, travelers and the travel industry will most certainly be making hay while the sun is shining.

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