IATO estimates loss of US$85 billion in hotel, aviation and tourism sector

A KPMG report on potential impact of COVID-19 on Indian economy says that along with large scale cancellations, the Indian Association of Tour Operators (IATO) estimates that the hotel, aviation and tourism sector may incur loss of about US$85 billion due to travel restrictions imposed on foreign tourists. The report also indicated that outbound and inbound travel to India will be at an all-time low with impact likely to be felt on both white and blue collar jobs.

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