Indian Rupee appreciation helps international travel to Myanmar

This summer, outbound travel has seen a different pattern. Neighbouring destinations such as Myanmar, Bhutan or countries the US or the UK have seen a bigger growth, thanks to the rupee appreciation. Brexit and the falling pound corresponding to the rising rupee have caused a sharp increase in the number of travellers to the UK. Travel and tourism companies are seeing around a 15% increase in outbound travel to the UK. Currently, the rupee stands at Rs 69.9 for a pound, compared to Rs 96.38 for the same price last year.

Cox and Kings sees an increase in demand for both groups and FITs willing to travel to UK.” The inquiries for UK only packages have risen by almost 15 to 18 % as travellers see the weak pound as an incentive to travel to the UK. We have also seen a shift in booking pattern with UK only packages selling faster than compared to the same period the previous year,” said Karan Anand, head, relationships, Cox and Kings. USA has also seen a 5% increase in the tourists from India, travel companies estimate.

While US and UK have seen a spike, South East Asian destinations have not either not seen a major growth. Some travel companies say that there for the South East Asian countries, where the rupee has not seen a significant appreciation, the growth is not as significant or there has been a dip. Sharat Dhall, CEO, Yatra, said that a survey conducted by the company showed a dip with 11.8% of the respondents opting to travel to South East Asia against 31.8% last year.

Other destinations such as Myanmar and Japan also stood to gain because of the appreciation. “The rupee strengthened 18% against Burma’s currency and the increase in Indian tourists for this duration to Burma is 88%. Similar trends were seen for Japan where Rupee strengthened by 13% and the tourism increased by 37%,” said Aloke Bajpai, CEO, Ixigo.

Source: Times of India

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