Uzbekistan announces new measures to support travel industry

According to him, tourism entrepreneurs, who have suffered losses due to the pandemic, are unlikely to be able to cover them in the next 1-2 years. In this regard, the President emphasized the need to provide additional benefits and preferences for this industry.

In particular, the previously granted preference in the form of exemption from tourist fees will be extended until the end of the year. Also, enterprises of the industry, when calculating income tax, will be allowed to deduct losses incurred in 2020-2021 from the profits of subsequent years.

Hotels will be given subsidies in the amount of 10% of the cost of the services they provide. In addition, they will be subsidized up to 10% of payments on loans allocated to working capital.

Since March 16 this year, our country has been closed to foreign and local tourists. As a result, more than 1.5 thousand tour operators and 1.2 thousand hotels have suspended their activities.

According to the forecast of the World Tourism Organization, by the end of 2020, international tourist trips will be reduced by 89%, 74 million jobs will be reduced, and the total losses in the industry will amount to $800 billion.