The low value of Indian rupee against the Dollar has put every industrial sector in big concern. Meanwhile, the present state of the country’s economy has brought a big smile on the faces of tourists. Travelers not just from India, but from foreign land are also making their way to many Indian destinations. The Indian tourism industry is witnessing a real boom at this time. The soaring value of the dollar has affected the plans of tourists planning a foreign vacation and thereby prompting them to choose from the domestic destinations. Consequently, Indian destinations such as Goa and Agra have experienced an overwhelming response from tourists. Goa hotels are already receiving a large influx of tourists.
As per Ramesh Mishra, a tourist, “With this dollar-rupee fluctuation in the present times… I don’t think the middle-class will be able to go abroad given the value of the Indian currency.” Adding to this, another tourist stated that, “the weak rupee is making it very difficult to go abroad nowadays for holiday.” The declining value of Indian Rupee has created a win –win scenario for the Indian tourism industry as the domestic travelers are dropping their foreign vacation plans and those from foreign are cashing on the rupee.
As such, Goa hotels are expecting an outstanding tourist season this winter and have their fingers crossed. The president of Goa Hotel and Restaurant Association, Gaurish M Dhond stated, “We had a good season last year. Comparatively, with a rise of dollar and fall of rupee, basically I feel that the domestic tourism market in Goa would rise. Rather I would say it will be very good market throughout India. There will be foreign tourists also coming down because things will be cheaper here in India compared to other places.”
With the slipping value of rupee, India has emerged as one of the most sought after holiday destinations online. Mr Gaurish further commented, “I feel these destinations will definitely grow because there are so many domestic travelers who now think they should move around in India and instead of going abroad which is an expensive destination… due to the dollar coming up. The cost has gone up tremendously and that’s the reason the tourism industry will grow big time in India.”
The free-fall of rupee has given a new hope to the Indian tourism industry that was experiencing a bad phase since quite a long time. With the expected upswing in the inbound travel during the upcoming tourist season in winters, the stakeholders from this sector are pinning hopes for the comeback of a robust Indian tourism industry.