MUMBAI: With the
free-fall of rupee, the dream of Indians travelling outside the country is
taking a twist and turn. While the domestic tourism sees benefits in the free
fall of rupee, most of the tourists are planning to enjoy domestic holidays
this time.(bea)
The rupee crash
in the international market has brought several changes. It has swept away many
dreams and plans. The Banker Nupur Sood plan of holidaying in Venice has been
swept by the rupee crash and now the 35 years old would settle for cold beers
on the alluring beaches of Goa on the India’s west Coast.
“We are going
for a leisure holiday, but it would be domestic. I think it is the only way to
get rid of the pressure and compensate, “said Sood, who has planned to say next
month at the plush Grand Hyatt hotel in Goa, managed by Hyatt Hotels Corp, as a
consolation for missing her holiday of a lifetime in Italy.
Sood is among
the many India’s growing urban middle class, whose rising income has made the
abroad holidays affordable, but the fall of the rupee has made it hard for
abroad holidays and instead settled with domestic holidays.
This would be a
blow for those domestic tour operators, promotion overseas travel, but for
those India’s who settle with domestic tourism hospitality sector, would
benefit with the marginal cost.
Hotel groups,
including Starwood Hotels & Resorts Worldwide Inc, Marriott International
Inc and Hotel Leelaventure Ltd are looking forward with the increase in the
booking for the winter season from both domestic and foreign tourists.
Especially from foreign tourists, who bring foreign exchange with them.
“There is a lot
of positive aspect in the hotel industry, for both these reasons - it being cheaper for inbound travellers and a
substitute for outbound travellers - We
expect to have a good winter, “said Dilip Puri, the managing director of India
at Starwood Hotels.
The Indian rupee
hit all time low a record of 68.85, down by 20 percent for the year, despite
multiple attempts by the government to calm investor’s concerns. Emerging
markets more broadly are being hit by capital outflows in anticipation of a
reduction in US monetary stimulus. The rupee recovered some ground on Thursday.
The fall has
contributed in the rise of domestic tourism by 35% from January and June and 15
to 20 % fall in outbound tourism over the period, the Associated Chamber of
Commerce and Industry of India says.
Every year
around 15 million Indians usually go for overseas holidays, so with the crash of
rupee, there would be fall and millions of them would love to spend holidays at
domestic tourist destinations. It will also help selling rupee for foreign
currency and a relief to the under-pressure rupee.
Meanwhile, there
is a rise in the flow of foreign tourists
and from January to June 2.6% rise has been seen compared to the same
period last year, figures from the Ministry of Tourism show and is expected
rise further with the holiday season starting from November.
GO GOA
For Goa tourism,
the rupee crash would mean a lot as there will be rise in the inflow of
tourists. The Leela hotel in India’s beach state of Goa, this summer was
busiest compared to the past several years and the winter is also gearing to be
busier season as the rupee crash will attraction domestic tourists as well as
foreign tourists. The relatively warm climate and the festival season would
highlight Goa tourism and also being an important tourist destination.
Shridhar Nair,
general Manager at the Leelaventure group hotel in Goa, said “India has become
a lot cheaper this time”. The Leelaventure group has seen a rise of 10-12 % in
revenues between April and June from domestic tourists and with the inflow of
foreign travelers in the winter would add rise of booking by 12-14 percent
compared to last year, which would be a best season for tourism in years.
