With India in the midst of a second COVID wave, the travel and tourism industry is bracing itself for another tough period. Speaking to CNBC-TV18, Prashant Pitti, Co-Founder and Director of EaseMyTrip.com said that the industry is seeing a reduction in bookings.
“The entire industry is seeing 30-40 percent booking reduction in the month of April when compared to the month of March,” he said.
Pitti said that business has been impacted on both, leisure as well as business travel, business travel is the worst hit. “Individuals who are working in corporates are avoiding to travel for meeting purposes,” he said.
However, he expects things to stabilize soon. “UK and US have already gone through multiple waves. If you look at the stock prices for the travel companies in those countries, you would see that in the second or third wave there was a market correction for the first 2-3 days, but was not as much when you compare it from the first wave. So, we anticipate things to stabilize very soon,” he said.Watch the video for more