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Budget 2021 expectations: Optimistic outlook! Sustainable roadmap for revival necessary, says travel and hospitality stakeholders

union budget 2021 expectations, budget 2020-21 expectationsBesides the travel sector, the nation’s restaurant trade too had been severely hit by the lockdown restrictions and the pandemic. (Image: Vana, Dehradun)

Union Budget 2021 expectations associated to travel and hospitality are hovering with an optimistic outlook! The pandemic could have toppled many travel plans however there’s nonetheless an rising ray of hope that Budget 2021 expectations from the travel trade appear to indicate.

Given that the most recent growth of the coronavirus vaccine being rolled out throughout the nation could augur properly for India’s travel and hospitality phase, Financial Express Online spoke to few stakeholders to gauge their expectations and acquire extra readability on what particular measures in Union Budget 2021 might help revive home tourism and hospitality.

Let’s dive into discovering out what Budget 2021 expectations from the travel trade are like.

Budget 2021 expectations for travel and hospitality

An rising key perception has been {that a} higher push to go to home locations is crucial and stimulus packages for the restaurant trade to steer again right into a path of revival and resurgence. Right now there may be extra discomfort about stepping out amidst security considerations than consolation about with the ability to travel as soon as once more.

“Tourism contributed nearly 9.2% of the country’s GDP in 2018-19, thereby supporting about 8.1% of total employment. In the last few months of 2020, though we have witnessed an optimistic rebound in domestic tourism, given to WFH mostly, we need to create a sustainable roadmap,” Pranav Maheshwari, Co Founder, Vista Rooms, advised Financial Express Online.

To instil confidence in folks to travel is one other key problem.

Also read | Budget 2021 Expectations: Hotels and restaurants looking for uniform taxation in Budget Expectations

Meanwhile, Booking.com, in its current press launch, referred to key traits associated to travel in 2020, terming it a troublesome yr that impacted the travel sector. Further, Ritu Mehrotra, Booking.com’s Country Manager, India, Sri Lanka & Maldives, within the press launch assertion conveyed appreciation for how Indians are exhibiting travel optimism by looking and reserving for locations.

Expectations from travel trade: Measures to revive home travel

Sharing Budget 2021 expectations from the travel and hospitality phase, Jaspreet Singh, Executive Director at Vana Dehradun advised Financial Express Online, “We are quite hopeful that India would take the required measures to revive the travel and hospitality industry as it is one of the major contributors to the growth of our economy and is the worst-hit sector due to the ongoing pandemic situation. This is the right time to use this as an opportunity to cater to the domestic needs of the population.”

Besides the travel sector, the nation’s restaurant trade too had been severely hit by the lockdown restrictions and the pandemic.

Raghav Joshi, co-founder and CEO (India Business Unit), advised Financial Express Online, “The lockdown rules had hit the country’s restaurant industry too and even with the relaxation of rules, food chains have had to incur additional costs to ensure the highest standard of quality and hygiene are maintained for safety of consumers. We would request the government to look into this aspect and extend some stimulus packages to help recover from the after-effects of the pandemic. Also, it will be great if the government can give a relaxation by the way of GST credit available for input cost, to be set off against output GST payable on Restaurant services.”

An issue, identified by Jaspreet Singh, Executive Director at Vana Dehradun, is “International travel plans (both inbound and outbound) are at a standstill now. Therefore, the Tourism Ministry must create and advertise domestic tourist destinations to help increase tourist footfall to de risk any such eventualities even in future.”

“Time to be opportunistic,” Pranav Maheshwari, Co Founder, Vista Rooms units the tone for Budget 2021 expectations from the travel and hospitality trade with these phrases, “We have witnessed massive demand in the last few months, and gladly say, the tremendous opportunity in domestic tourism.”

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