While lira has lost more than 40% against the US dollar year to date (January to August), rand is down almost 10% in the same period
The sharp decline in exchange rate of foreign currencies like Turkish lira and South African rand is set to boost travel to these destinations for Indians for a business or a leisure trip.
While lira has lost more than 40% against the US dollar year to date (January to August), rand is down almost 10% in the same period. The Mexican peso is also in the declining mode, expanding destination options for travellers looking for a steal deal for their foreign tours.
Travel and tourism industry players maintain that this being a lean season for outbound travel from India, currency fluctuations wouldn't really impact travel decisions much.
"However, if someone is really keen on taking advantage of the current scenario in some of the international markets, it definitely is a great time to plan a business, leisure or a shopping trip to Turkey, South Africa, Egypt or Mexico," said a Cox & Kings spokesperson.
According to Subhash Goyal, founder and chairman, Stic Travel Group of Companies, it is all about demand and supply. "So as the currency at these destinations fall, it will get cheaper for the tourists to visit these places," he said.
"Even Indian currency has seen some downfall in the recent months. So we are expecting around additional tourist inflow of between 5% and 10% from foreign countries for the upcoming season," he said
Iqbal Mulla, chief council, Global Tourism Council (GTC), said that most tourists make flight and hotel bookings months in advance. "So it may not necessarily be beneficial for tourists," said Mulla who is organising a convention in Cairo next month in association with Egypt Tourism.
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