Indians ride the bull to hotspots abroad

MUMBAI: The stock-market boom seems to have triggered a steep rise in the number of people going on foreign holidays. According to booking figures registered by leading tour operators in the city, the number of Indians travelling abroad has increased by 30 to 50 per cent from last year.

“The Indian economy is growing at a healthy rate of 9 per cent and stock prices have risen steadily since January 2006. This has had a positive impact on travel,” said Karan Anand, director (contracting), Cox & Kings. “Our observation over the past couple of years has been that a rise in the stock market results in a travel boom.”

It is not surprising then that college lecturer Mansi Bhagwat, who invests heavily in stocks, recently enjoyed a vacation in Thailand and Malaysia.

“We made some unexpected money from the dream run at the stock market,” Bhagwat said. “We bought some household stuff and decided to take an international flight with the rest of the money.”

Nearly 16,000 people booked holiday packages in 2005 at Raj Tours and Travels for trips to southeast Asian countries this year. Europe drew 8,000 people, and 10,000 travellers headed for the US. “Till October this year, 24,000 people travelled to international destinations,” said Lalit Shet from Raj Travels. “Last year, there was a 40 per cent rise compared with 2004 in the number of people holidaying abroad. This year, the figure has grown by a further 48 per cent.”

Most people holidaying abroad come from northern and western India, with Mumbai being one of the biggest markets for travel and tour organisers. One of the attractions of a foreign holiday is that the cost of global tourism is now comparable to, and often lower than, domestic holidays.

“Return fare for a couple from Mumbai to Srinagar is nearly Rs25,000 during April to July, the vacation season,” said Bharat Patil of Raja Rani Travels. And a holiday package for a five-star resort at Kerala could cost up to Rs80,000.

“But for Rs25,000, a person gets a three-nights-four-days three-star package to Malaysia, Thailand, or Singapore.” Indeed, over the years, the three countries have been among the most popular destinations for Indian tourists.

Patil said most Indian tourists prefer to take the cost-effective group tours.

But vacationers have now started experimenting with new destinations such as Turkey, Egypt, New Zealand, Australia, and South Korea. “In 2004, 5.4 million people travelled to various international destinations, whereas in 2006 the figure has already crossed 7 million,” said Sachin Rampal of Thomas Cook’s corporate communications department. Rampal said that although southeast Asia and Europe are popular vacation sites, countries such as Bhutan, China, Turkey, Fiji, South Korea and Bora Bora Island have emerged as the new favourites.

“People prefer Asian destinations because travel to these countries is safe, there is no language problem, and the packages are affordable,” Rampal said. Europe and the US are considered aspirational destinations because of the costs involved. The per-day cost for a vacationer in the US is nearly Rs17,000.

But those who want an international experience to be stamped on their holidays don’t have to travel far. For instance, the long Diwali weekend saw many Indians thronging the Maldives, Macau, and Bali.

“Australia is also one of the hotter destinations,” said Abhilasha Jain, country manager, Tourism Australia. In 2004, nearly 54,000 people from India travelled to Australia, a figure that grew by 22 per cent in 2005, translating into 68,000 tourists. “This year, the figure has already grown to 56,500 visitors, an increase of 29 per cent,” said Jain.