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Anjuna (Goa): Raju Lakhani’s beachside restaurant here at this popular tourist strip in north Goa should have been packed this time of the year. But the tables at Moon Star are empty and the restaurateur is a worried man.
“We have no customers,” he said. “Almost 90% of tourists are leaving because of the inconvenience caused by notebandi.”
Lakhani said he now has no choice but to lay off workers. He is one of Goa’s many restaurant owners who are feeling the brunt of what is referred to as notebandi–the colloquial term for the ban on India’s Rs 500 and Rs 1,000 notes, 86% by value of all bank notes.
At 2.8%, the travel and tourism sector in India grew faster last year than it did worldwide (2.3%). It contributed to 6.3% of the country’s gross domestic product (GDP)–including direct, indirect and induced contributions–and translated to Rs 8.3 lakh crore in 2015, according to this 2016 report by the World Trade And Tourism Council (WTTC), a forum for the travel and tourism industry.
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