New Delhi, Feb 17 (TIWN) The tourism, travel and hospitality industries have been hit the hardest by the Covid-19 pandemic, a report by Institute of Management Accountants (IMA) said.

"Companies' beliefs in how they were faring compared to their competitors was influenced by firm size: larger firms (greater than 1,000 employees) were more likely (39 per cent) to believe they were ahead of their competition than smaller (less than 100 employees) ones (29 per cent)." 

Besides, financial professionals' employed with tourism, travel and hospitality industry have also been the hardest hit by the pandemic.  According to the report, 13 per cent of financial professionals' employed with tourism, travel and hospitality industry were furloughed and 58 per cent received pay cuts.  Also, relatively hard hit were professionals in the government, not-for-profit, and education sectors  "Also, relatively hard hit were professionals in the government, not-for-profit, and education sectors, 5 per cent of whom were furloughed and 52 per cent receiving a salary decrease."

"By contrast, the sectors that showed the highest resilience were accounting and finance followed by IT, telecom, and tech, followed by financial services, banking, and real estate."