Paper Title
A Study on Financial Problems in Tourism Industry Due to Covid Pandemic
Article Identifiers
Authors
R Bhuvaneshwari
Keywords
Tourism, COVID-19, Impacts, Financial crisis, Recovery, Resilience.
Abstract
Tourism is often regarded as an economic development path for structurally weak, peripheral areas, as a cure-all providing jobs and income, capital inflow and finally stopping outmigration by creating a positive socio-economic perspective for the future.The tourism has become the world׳s fourth largest export industry after fuels, chemicals and food . The objective of study is To determine the level of tourism industry has affected financially during COVID pandemic.Through the implementation of sampling technique or conjointly referred to as empirical research with convenient sampling technique the info was collected from 200 respondents. Independent variable used age, gender, occupation, education qualification and marital status. The finding of this study was observed that most of the male respondents have agreed to the fact the tourism industry had witnessed financial crisis during the COVID pandemic that expected to have a debilitating effect on the Indian travel and tourism industry which includes a direct impact on hotels, travel agencies, tour operators, restaurants and tourist destinations and have an indirect impact on land, air and sea transportation. The lockdown and the travel ban have had a serious impact on the inflow of foreign tourists into India.It has been observed in the past that therecovery strategies require effective and timely coordination, implementation of relevant crisis management techniques, responsive relationships among all the stakeholders involved including Governments, recognition of risks and opportunities, and timely and scalable interventions. It is evident that the industry is moving towards a ‘new normal’ and steps to operationalize the same through greater empowerment to the traveller and providing personalized travel experiences could be the key to faster and more sustainable recovery.
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How To Cite (APA)
R Bhuvaneshwari (June-2024). A Study on Financial Problems in Tourism Industry Due to Covid Pandemic. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 9(6), d410-d423. https://ijnrd.org/papers/IJNRD2406335.pdf
Issue
Volume 9 Issue 6, June-2024
Pages : d410-d423
Other Publication Details
Paper Reg. ID: IJNRD_221189
Published Paper Id: IJNRD2406335
Downloads: 000121990
Research Area: Management
Country: Chennai, Tamil Nadu, India
Published Paper PDF: https://ijnrd.org/papers/IJNRD2406335.pdf
Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2406335
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Journal Name: INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT(IJNRD)
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This work is licensed under a Creative Commons Attribution 4.0 International License and The Open Definition
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