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FAITH revises upwards forecast on tourism value at risk at up to Rs 15 lakh crore

"Its first guidance, which was calculated and shared with the government in March 2020, had put tourism's economic value at risk at Rs 5 lakh crore from the ongoing coronavirus pandemic," FAITH said in a statement.

July 27, 2020 / 06:36 PM IST

Apex industry body Federation of Associations in Indian Tourism and Hospitality (FAITH) on Monday said it has further revised upwards its forecast on Indian tourism's economic value at risk at up to Rs 15 lakh crore.

"Its first guidance, which was calculated and shared with the government in March 2020, had put tourism's economic value at risk at Rs 5 lakh crore from the ongoing coronavirus pandemic," FAITH said in a statement.

This was revised further during the quarter as the situation deteriorated and the value at risk was put at Rs 10 lakh crore, it added.

"This has been revised again to touch a value at risk of up to Rs 15 lakh crore in terms of the economic output of tourism in India," it added.