Tourism industry estimated to have lost 2cr jobs in FY21
Hit hard by the Covid-19 pandemic, the tourism industry is estimated to have lost close to 2.1 crore jobs in just three quarters of FY21, according to a report by the National Council of Applied Economic Research (NCAER).
In January this year, the Ministry of Tourism had commissioned NCAER to prepare a report on the impact of the Covid-19 pandemic on the tourism sector. While the final draft is yet to be uploaded, excerpts from the report were reviewed by BusinessLine. It has been estimated by NCAER that in 2019-2020, the tourism sector generated close to 3.4 crore jobs. However, by March 2020, the Covid-19 pandemic hit hard, and the tourism sector was the first to get impacted and suffered the most.
According to the report, once the lockdown was implemented, 14.5 million jobs were lost during Q1, 5.2 million jobs were lost in Q2 and 1.8 million jobs were lost in the third quarter.
Not only is the tourism sector one of the highest job contributors, but it has also been a large contributor in foreign exchange earnings. (Source: The Hindu BusinessLine)