Falling rupee diverts foreign travel traffic

Travel to S-E Asia and domestic destinations gets a boost as the weak rupee makes Indians choose them over dollar destinations for holidays.

The value of the rupee, which has fallen below the psychological resistance level of 59.52/dollar, has put a spanner in the works not only for students planning to study abroad,but also for those who had plans to vacation abroad. With foreign trips becoming quite costly for Indian tourists, many people are either cancelling or cutting short their foreign trips, or opting for domestic holidays, says a survey conducted by the Associated Chambers of Commerce and Industry of India ( ASSOCHAM). According to the survey, “the foreign tourist outflow registered a significant decline to the extent of 15-20% due to the falling rupee. In the wake of the record rupee depreciation, Indian tourists are not just cutting their vacation days, but are opting for holidays within the country rather than going abroad.”

Full report here Times of India


Please enter your comment!
Please enter your name here