Budget expectations: Hospitality sector

27 Jan 2022 , 07:46 PM

The hospitality industry has been severely impacted ever since the pandemic hit the country in early 2020 with the first lockdown and restrictions putting the sector at a standstill for almost eight months, he said, adding while the industry was hoping for some revival post-November 2020, the second wave in April-May 2021 totally deflated the business and the hope of the industry.

The fresh wave of COVID-19 has once again plunged the hospitality sector into uncertainty, which will make new investments in the sector not only less but practically nil. The government needs to provide access to softer funding and give longer durations to pay off loans to investors to make Restaurant investments attractive and sustainable. An increase in investment in the sector will ultimately lead to better development and more jobs. It is also crucial for the government to support the sector to enable to promote Hospitality.

The author of this article is Deepak Purohit, Founder, 36 Lebzelter

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