The global travel industry hit by COVID-19 is poised to get on revival mode in 2021 and reach the pre-pandemic crisis level by 2023 with the skies opening up, according to V.K. “Our estimate is that the travel industry will contract by 25% and aviation by 50% in 2020. But from 2021, it will start growing and then shoot up steeply to reach the pre-crisis level by 2023,” Mr. Mathews told The Hindu. Globally, the aviation sector suffered over 20% decline in May, which further plummeted to 80% in June. However, in India, aviation had become precarious despite its great potential.

Source: The Hindu July 04, 2020 16:52 UTC