Tag: indian chamber of commerce

The coronavirus crisis can result in 18-20% erosion of nationwide occupancy across the hospitality sector, Indian Chamber of Commerce (ICC) has said. The cascading effect of the global coronavirus pandemic is crippling the country’s tourism and hospitality industry at an “astonishing pace”, the industry body noted. Hence, the ICC has recommended setting up of a ‘Travel & Tourism Stabilisation Fund’ with direct benefit transfer to each unit to prevent financial loss and consequent job loss. Foreign Tourist Arrivals (FTA) has come down by about 67% annually in the January-March quarter, while for domestic tourists, the figure is lower by nearly ... Read more