Omicron Shadow on Services

The spike in Omicron cases has brought back the spectre of restrictions on gatherings and movement of people, which is likely to impact the reviving service sector. The medical tourism industry, which started reviving last quarter, is now witnessing a drop in medical value travel patients in hospitals across India. The education sector was pinning hopes on vaccination of children aged 15-18, but is again expected to step back. The rising epidemic curve may severely hit revenues of restaurants, airlines, cinema halls, among others. Tough times ahead, again.