{"id":91564,"date":"2020-09-10T18:03:06","date_gmt":"2020-09-10T10:03:06","guid":{"rendered":"http:\/\/www.namnewsnetwork.org\/?p=91564"},"modified":"2020-09-10T18:13:58","modified_gmt":"2020-09-10T10:13:58","slug":"india-hospitality-sector-projected-to-lose-us65-bln-due-to-covid-19","status":"publish","type":"post","link":"http:\/\/namnewsnetwork.org\/?p=91564","title":{"rendered":"India hospitality sector projected to lose US$65 bln due to COVID-19"},"content":{"rendered":"\n<p>By Shakir Husain<br><\/p>\n\n\n\n<p>NEW DELHI, Sept 10 (NNN-BERNAMA) &#8212; India&#8217;s hospitality sector is expected to lose US$65 billion (US$1=RM4.16) due to the COVID-19-produced turmoil this year, according to an industry report.<\/p>\n\n\n\n<p>&#8220;The coronavirus pandemic has given a crippling blow to the Indian travel and tourism industry.<\/p>\n\n\n\n<p>\u201cThis is one of the worst crises ever to hit the Indian tourism industry, impacting all its geographical segments &#8212; inbound, outbound and domestic, almost all tourism verticals &#8212; leisure, adventure, heritage, MICE, cruise, corporate, and niche segments,&#8221; the study by the Confederation of Indian Industry\u00a0(CII) and hospitality consulting firm Hotelivate said.<\/p>\n\n\n\n<p>Hotel occupancy dropped to seven per cent in April from 80 per cent in January following the nationwide shutdown to contain the spread of COVID-19.<\/p>\n\n\n\n<p>With the lockdown being eased, occupancy levels in August improved to 22 per cent.<\/p>\n\n\n\n<p>The loss of hotel revenue is estimated at US$19.3 billion.<\/p>\n\n\n\n<p>&#8220;The figures are quite alarming and the industry needs immediate measures for survival,&#8221; the report said.<\/p>\n\n\n\n<p>It noted that the travel and tourism industry accounts for 9.2 per cent of India&#8217;s GDP, employs 8.1 per cent of people, and earns US$28 billion in foreign exchange annually.<\/p>\n\n\n\n<p>&#8212; NNN-BERNAMA<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Shakir Husain NEW DELHI, Sept 10 (NNN-BERNAMA) &#8212; India&#8217;s hospitality sector is expected to lose US$65 billion (US$1=RM4.16) due to the COVID-19-produced turmoil this year, according to an industry report. &#8220;The coronavirus pandemic has given a crippling blow to the Indian travel and tourism industry. \u201cThis is one of the worst crises ever to [&hellip;]<\/p>\n","protected":false},"author":19,"featured_media":31301,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[288,300,318],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/91564"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=91564"}],"version-history":[{"count":0,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/91564\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/media\/31301"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=91564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=91564"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=91564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}