With the continued rise in COVID-19 recovery rates coupled with acceptance of the new normal by travellers and the pent-up demand, it is expected that the demand for leisure travels shall gain momentum from Q4 FY21.
Just about six months ago, little did anyone expect that the world would be such a drastically different place to live in. With the start of the contagion of COVID-19, almost all the countries in the world witnessed lockdowns in order to limit the spread of coronavirus. Unprecedented in nature, simultaneous closures across the world had its impact on all the segments of business. Tourism was no exception.

As an industry, travel & tourism sector contributed a little over 10% of the global GDP in 2019. In India, the entire sector came to a grinding halt as a country-wide lockdown was imposed by the end of March 2020. By April, prominent destinations, which were once touted to be thriving party locales,across the country wore a deserted look. Employees in hospitality segment were staring at salary cuts across board with possibilities of furloughs/ lay-offs. The country-wide lockdown period resulted in drastic reduction in steady flow of revenues of many hotels, restaurant chains, resorts etc.