Travel Tourism and Hospitality
Sailing Through The Storm: Here’s How COVID-19 Has Impacted Travel Startups in India
18 Aug 2020

That the travel industry has been severely hit due to the Coronavirus pandemic, is something travel startups are finally coming to terms with. A report published by Praxis Global Alliance, a Gurugram-based management consulting firm, had estimated that the travel market would be worth $13.6 billion by 2021 (up from $5.71 billion in 2015). But then, the pandemic hit the world, eventually making its way to India, leaving the over 3,000 travel-tech startups in the country without business. Following the pandemic, Praxis conducted another survey in the last two weeks of March to understand its impact on Indian startups. The survey concluded that travel, tourism, hospitality and mobility will be the worst hit from the slowdown caused due to the pandemic in the first quarter of the financial year 2021. The most severely-impacted are smaller startups who have either run out of working capital or are having to reduce their workforce in order to survive.

This article was originally published on Outlook Traveller.

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