Page 74 - IBT October 2020

The hotel and
South Asian Economy
Weathering
the Storm
The whole world is reeling
from the deadliest pandemic
in history. As the situation
prolongs, economies around
the world have entered into a
synchronised recession. The
economic fallout has
multidimensional
implications which will
persist for years to come.
Undoubtedly, the tourism and
hotel sector has been the
hardest hit from the
The Maldives Government is
drawing up strategies to bring
back tourism into the country.
Strategies policies and
guidelines have been put in
place that are developed based
on research internationals
case studies and industry.
68
tourism industry
has dealt the
biggest blow from
the pandemic. In
South Asia, it has
massive that is compatible with the safety
socio-economic standards of the post-COVID-19
implications. In a world. The entrepreneurs of the sector
discussion, will have to innovate ways to make
entrepreneurs of the tourists feel safe while spending
the industry chalks precious time with their families. The
out the way implementation of the strategy might
forward.
be different depending on the nature
By Asif Tarafdar of tourists respective countries cater.
However, the marketing initiatives
should be centred on the new normal.
GOVERNMENT SUPPORT: The hotel
and tourism industry is the hardest
hit from the pandemic and will
recover last from it. Governments
across the region must undertake this
fact under consideration and act with
a long term strategy to revive the
sector. The revival effort must be
related to the tourism industry; the based on a comprehensive approach;
impact is enormous on all the the government should have a fiscal,
monetary and diplomatic approach to
entrepreneurs. The tourism sector is
essential for our country, none of the this situation.
The respective governments should
other businesses, not most of the
continue providing stimulus packages
businesses will not survive without it.
and loans to ensure the stakeholders
The Maldives Government is drawing
up strategies to bring back tourism of the industry survive this period.
The pandemic has caused a lot of job
into the country. Strategies policies
losses in the industry globally, as the
and guidelines have been put in place
market is not going back to its initial
that are developed based on research
internationals case studies and
persisting. The authorities should
industry. growth rate, unemployment will keep
provide financial support and
The panelists discussed on the facilitate employment and training for
pandemic. Shakeela, Former Cabinet ways to ensure a robust the growing unemployed pool.
In a discussion titled, Minister (Maldives), CEO, growth of th sector in the STRONGER DIPLOMATIC TIES:
"RESTART ASIAN SIMDI Group and Mrs economy. Realistically, it will take region and highlighted some Strong diplomatic relations between
ECONOMIES: Ideas and Bhawani Rana (Nepal), another two to three years to take the key areas that the the countries has the potential to
Actions for the Hotel President, Federation of sector back to its initial growth rate. stakeholders need to focus: change the region's economy and its
Industry", hosted by the Nepalese Chamber of She also points out that the industry DIVERSIFICATION OF TOURISM: not exclusively for the hotel industry.
Friedrich Naumann Commerce and Industry and is exceptionally pivotal for Nepal, and South Asian countries should look to Ensuring a smoother visa process and
Foundation (FNF), the Managing Director of Hotel entrepreneurs are working with the diversify their respective tourism easing travel restrictions will
panellists discussed the Sneha Pvt Ltd. government to ensure that all the sector depending on their strengths. exponentially increase tourism and
current state of the hotel Bhawani Rana expressed her stakeholders manage to weather the Every country in the region may not will facilitate a boom in the hotel
industry. They explained the anguish about the current storm. Currently, they are working be capable of attracting the same type industry. It will generate millions in
magnitude of the crisis and situation. Her hotel, which is with the government to finalise a of visitors. Countries can specialise revenue for the respective
its implications on the local near the Indian border in the revival package which will facilitate on the different types of tourism governments and create employment
economy. The interaction UP area, has seen the number much needed support the sector ranging from religious to medical. It opportunities for the growing young
facilitated the exchange of of guests tanking. The loss needs. will allow each country to specialise population. It can allow regional
ideas, challenges faced by the has been multidimensional, On the other hand, Dr Mariyam on the specific sector which will lead tourists the chance to enjoy cheaper
holidays and the industry more
entrepreneurs and their not only in Nepal but for the Shakeela lamented that the impact to a drastic improvement in the revenues as it will take some time for
solutions as well as the role entire region. Because the has been worse than the 2004 quality of service. Concurrently, it will the European tourists to return to the
Tsunami and the 2008 global
of the government towards cross-border tourism industry financial crisis put together. Maldives allow the tourists more options and region. The entrepreneurs are already
reviving the sector. prevalent for famous and is a small island state, and this has a better choices according to their taking initiatives to accelerate
Moderated by Dr Nazmul adventure tourism has taken unique vulnerability to external preferred type of travel. It can be done regional tourism. They are working
Hossain, Country
a hit. The sector has grown
Representative, FNF, exponentially in the past impacts. The economy has contracted on a consensus basis among the on establishing private sector to
Bangladesh the session was decade and has become an significantly and all the businesses nations in the regio private sector MOUs and advocating
DESIGNING NEW EXPERIENCE: The
panellists were Dr Mariyam essential part of the local are very much directly and indirectly panellists agreed on creating tourism the same between governments.