Head Start to Overlook Green Paper: Buffering Hotel Industry

Hira Anwar

Abstract


A cashless system brings forth numerous questions for various sectors in Indian economy. How a largely cash driven economy will adapt to this change and how industries will adapt to this new system? Demonetization seems to have created a lot of chaos but there is definitely a silver lining in every black cloud.  The step towards a cashless economy has led to some collateral damage also. One of the sectors that are majorly hit by the demonetization drive is the tourism and hospitality industry. This paper dwelt on the meaning of a cashless system for the hospitality industry and followed by the vision of industrial professionals. This study discusses the Impact of the cashless system in the hospitality industry and also revealed that hospitality industry is ready to embrace the new cashless economy policy despite glaring bottlenecks and cashless risks. The study also emphasizing innovative strategies introduced by hotels to encourage tourists to shift over to cashless payment methods with initiatives like loyalty points and other benefits. The author suggested some recommendations for proper implementation of the cashless economy.

Keywords: Cashless Economy, Demonetization, Hospitality Industry, Hotels, Industrial Professionals.


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ISSN : 2251-1547