Tag: Travel

In respite to policymakers, China’s travel spending during Lunar New Year surpasses pre-Covid levels

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Money spent on travel and other activities during the Lunar New Year holidays in China has risen significantly, surpassing even the pre-pandemic levels, the latest data show. China’s Ministry of Culture and Tourism on Sunday said that around 474 million domestic trips were registered during the eight-day festival, a massive 34.3% more than the past year.

The data shared by the ministry brought respite to policymakers. During holidays, tourist attractions across the country witnessed a massive crowd this time.

Domestic tourism spending has jumped by 47.3% to 632.7 billion yuan when compared with the same holiday period in 2023. Compared to the 2019 Lunar New Year holiday, before the COVID-19 pandemic, domestic tourism spending rose by 7.7% and domestic travel numbers increased by 19%.

The holidays, also known as the Spring Festival in the country, are traditionally the time when millions visit their hometowns by different means of transportation, such as air, road, and train.

International travel in China has witnessed around 13.52 million inbound and outbound trips during this year’s holiday. According to the National Immigration Administration, this marked 2.8 times more than that of the same period last year.

Besides travelling, watching movies is one of the most common and popular activities of entertainment during the festivities in the country. According to the China Film Administration, the country’s box office revenue has exceeded 8 billion yuan over the past eight days of the holidays. It also marked a new record as per the administration.

Currently, the Chinese economy has been grappling with several challenges, including the property downturn and a significant reduction in demand since last year, reported Reuters. These challenges have also forced policymakers to cut down the interest rates to ignite growth. The authorities are striking a delicate balancing action to support the economy when the signs of deflationary pressures are calling for more stimulus measures.

On Sunday, China’s central bank kept a key policy rate unchanged while rolling over the maturing medium-term loans, Reuters reported.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

The dates for Japan’s cherry blossom season are out, plan your trip now

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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As the winter’s chill begins to wane, Japan eagerly awaits the arrival of its most enchanting natural spectacle — the cherry blossoms. These delicate pink and white petals transform the island nation in East Asia into a dreamlike canvas, captivating locals and travellers from around the world.

If you have ever dreamed of witnessing this ephemeral beauty, this is the time to plan your trip as Japan has officially announced the dates for the cherry blossom season 2024.

The season usually starts towards the end of March and lasts till early April. Also called ‘Sakura’, the blooming of cherry blossoms remains a much-awaited event in Japan, attracting a large number of tourists from across the globe. During this time, people often gather in parks and other outdoor spaces and enjoy time with their family and friends, amid the beautiful pink and white flowers. This flower-watching ritual in Japan is called ‘Hanami’.

ALSO READ | How to plan a trip to see the Olympics this summer without going to Paris

Dates for 2024 cherry blossom season

In the Kyushu and Shikoku regions of Japan, the anticipated dates for flowering will be between March 19 and March 25, while it will be from March 21-24 in the Chugoku region, including Hiroshima, Shimane, and Okayama.

ReutersIn the Kinki region, including Kyoto and Osaka, the expected dates of flowering are between March 20-28, and in the Tokai region, it will be between March 21 and March 25.

Japan’s capital city, Tokyo, will witness the cherry blossom flowering on March 20, while the Kanto/Koshin region will see it between March 20 and April 6.

For other regions — Hokuriku, Tohoku, and Hokkaido — the flowering is expected from March 26 to May 12.

ALSO READ | Over 17 lakh foreign and 18 crore Indian tourists visited this state in 2023: Can you guess it?

During the cherry blossom season, the weather in most areas of Japan remains usually mild and pleasant. However, there are chances of rains and strong winds that can lead to the early fall of the cherry blossoms.

All things considered, everybody who enjoys nature and culture must witness the cherry blossom season in Japan. A wonderful time of year, the cherry blossoms’ splendid beauty, matched with rich cultural traditions, makes it an unforgettable experience in the country.

ALSO READ | Record 85.1 million international tourists visited Spain in 2023; majority stayed for 4 to 7 nights

Some of the most famous spots for cherry blossom viewing include Shinjuku Gyoen National Garden and Ueno Park in Tokyo, Aomori’s Hirosaki Castle, Philosopher’s Path in Kyoto, and Himeji Castle in Hyogo.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

EaseMyTrip suspends Maldives bookings, Vistara to monitor demand as celebs hail Lakshadweep tourism

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Days after remarks by some ministers from the Maldives against Prime Minister Narendra Modi, several Indians have taken to the microblogging platform X (formerly Twitter) to claim that they have cancelled their flight and hotel bookings to the country. Those willing to travel, instead are looking forward to holidays in Lakshadweep, after PM Modi visited the archipelago last week.

Even travel companies have reacted. Travel booking platform EaseMyTrip’s CEO and co-founder Nishant Pitti tweeted, “In solidarity with our nation, @EaseMyTrip has suspended all Maldives flight bookings.”

Full-service carrier Vistara has said it will monitor the demand for flights between the two countries for a week or so as the “situation is evolving right now”. Vistara operates one flight each daily from Mumbai and Delhi to Male.

Twitterati speculates that over 7,500 hotel bookings have been cancelled in Maldives while more than 2,300 flight tickets to the islands have been cancelled. However, CNBC-TV18 could not independently verify the numbers.

Also Read | PM Modi’s Lakshadweep tour sparks diplomatic strife with Maldives: A social media showdown | Explained

The sudden rage and #BoycottMaldives trend on X came after three deputy ministers from the Maldives criticised Modi for his post on ‘X’ following his visit to Lakshadweep, inferring that it was an attempt to project the Union Territory as an alternative tourist destination to the Maldives.

According to Maldivian media reports, deputy ministers in the youth ministry, Malsha Shareef, Mariyam Shiuna and Abdulla Mahzoom Majid, have been suspended from their positions over their derogatory social media posts.

According to sources cited by the news agency PTI, the Maldivian envoy to India was on January 8 summoned to the external affairs ministry and conveyed strong concern over remarks against Modi by some Maldivian ministers.

Meanwhile, several Bollywood celebs, who previously picked Maldives as one of their favourite vacation spots, are now actively promoting Lakshadweep tourism.

Lakshadweep and the Andamans are “astonishingly beautiful locations”, said Amitabh Bachchan as the megastar hailed India’s self-reliance. Other celebrities including actors Akshay Kumar, Salman Khan, Shraddha Kapoor, and veteran cricketers Sachin Tendulkar, Venkatesh Prasad and Virender Sehwag have also appealed to people to explore domestic islands.

Comic actor Vir Das, however, had a light-hearted take on the controversy. “Firstly, happy Lakshadweep is getting some love! Secondly, Somewhere in the Maldives, right now, is an Indian celebrity/influencer, who didn’t eat carbs for two weeks, took the best vacation photos ever, and is TERRIFIED to post them,” Das wrote on the microblogging site.

MakeMyTrip said it has observed a 3,400% increase in on-platform searches for Lakshadweep ever since Prime Minister Narendra Modi’s visit to the islands.

Also Read: Did PM Modi just checkmate Maldives? Google searches for Lakshadweep skyrocket

“We have observed a 3,400% increase in on-platform searches for Lakshadweep ever since PM’s visit. This interest in Indian beaches has inspired us to launch a ‘Beaches of India’ campaign on the platform with offers and discounts to encourage Indian travellers to explore the country’s stunning beaches,” MakeMyTrip said in a post on social media platform X.

Pitti earlier said that the water and beaches of Lakshadweep are as good as Maldives and Seychelles. “We at @EaseMyTrip will come up with crazy special offers to promote this pristine destination that our PM @narendramodi has recently visited!” he tweeted on January 4.

With inputs from agencies

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

India sees 10 lakh flyers over Diwali weekend, travel portals witness sharp uptick in demand

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Indian aviation sector saw good demand over the Diwali weekend, from November 11 to November 12 with 3.94 lakh domestic passengers across 5,993 flights on the first day and 3.25 lakh passengers and 5,707 flights on the second day,  according to the Ministry of Civil Aviation data.

While Mumbai’s Chhatrapati Shivaji Maharaj International Airport achieved a milestone in terms of total flight movement, online travel portals like EaseMyTrip and Yatra online reported a major jump in demand over the Diwali weekend.

On the other hand, Kempegowda International Airport Bengaluru saw a traffic of about 700 flights and one lakh passengers each day. Of this, nearly 90,000 passengers engaged in domestic travel and 10,000 took international flights.

Despite the recent increase in hotel and flight prices, EaseMyTrip saw a notable upsurge in domestic travel bookings. Nishant Pitti, CEO & Co-Founder of EaseMyTrip told CNBC-TV18 , “We noticed 2X increase in bookings for the Diwali weekend in 2023 compared to 2022.”

He added that average airfares to popular routes increased by 10-20% and that the pattern highlights the tenacity and zeal of tourists during the festive season.

Also Read | Diwali 2023 season: Sales at retail & online stores clock all-time high, 65% of online sales outside Tier-1 cities

Major demand was recorded in Delhi-Mumbai, Delhi-Bengaluru, Delhi-Ahmedabad, Delhi-Chennai, Delhi- Hyderabad and Delhi-Kolkata routes, he said.

Online travel services provider Yatra Online too boasted of high demand for ticket and hotel bookings in metros, non-metro cities, as well as Tier 2 to Tier 3 cities.

“For last-minute bookings (within 15 days of travel), fares were approximately 30% higher. Most hotel bookings are for the period after November 15 until New Year’s,” Bharatt Malik, Senior VP – Flights & Hotel Business of Yatra Online said.

He also explained that long-haul destinations like the United States and Europe are less popular during the festive season due to higher costs and longer planning times. “Short-haul destinations, being less expensive and require less planning time, are more preferred,” he said.

Meanwhile, the Mumbai airport witnessed a rise in passenger traffic with a total of 516,562 flyers during the Diwali weekend from November 11 to November 13. The airport also posted a highest single-day record of 1,032 air traffic movements (ATMs) on November 11, surpassing the December 9, 2018 record of 1,004 ATMs.

Also Read Diwali sees record trade of Rs 3.75 lakh crore: CAIT

The total 516,562 passenger movement from CSMIA comprised 354,541 flyers on domestic routes and 162,021 flyers on international routes. The airport said that it catered to over 2,894 ATMs with 2,137 domestic flights and 757 flights on international routes.

Top destinations in terms of domestic passenger included Delhi, Bengaluru, and Chennai for international it was Dubai, London, Abu Dhabi and Singapore.

Also Read: Air traffic in India up 11% in October, says ICRA report

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Travel Alert: El Salvador imposes ₹94,000 fee on travellers from India

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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El Salvador is charging passengers from India and Africa a $1,000 (₹94,000) fee, to curb migration to the US through the Central American country.

People travelling on passports from India or any one of more than 50 African nations will be obliged to pay the fee, El Salvador’s port authority said in a statement on its website dated October  20.

The money raised will be used to improve the nation’s main international airport, the authority added. El Salvador President Nayib Bukele this week met Brian Nichols, US assistant secretary of state for Western Hemisphere affairs, to discuss “efforts to address irregular migration.” among other topics. US Customs and Border Patrol encountered a record 3.2 million migrants across the country in fiscal year 2023, which ended in September.

Many migrants from Africa and elsewhere make it to the US via Central America.

Also read: It’s going to be more expensive to visit the Land of Fire and Ice

Including VAT, the additional cost is $1,130 from travelers from the affected countries. The new fee took effect Oct. 23 and was imposed due to increased use of the country’s main international airport, according to the statement.

Airlines will be required to notify Salvadoran authorities daily of passengers who come from a list of 57 countries in Africa, and India.

Colombian airline Avianca, which is one of the hub’s biggest users, began notifying travelers that passengers from the list of countries must pay the mandatory fee before boarding flights to El Salvador.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Sri Lanka approves free tourist visas for Indians, visitors from six other countries

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Sri Lankan Cabinet has approved the policy to issue free tourist visas to travellers from India and six other countries, Foreign Minister Ali Sabry said on Tuesday (October 24), amidst efforts to rebuild the debt-trapped island nation’s tourism sector.

Foreign Minister Sabry in a statement said that this would be carried out as a pilot project effective until March 31, 2024.

The Cabinet approved free entry to travellers from India, China, Russia, Malaysia, Japan, Indonesia, and Thailand with immediate effect.

Tourists from these countries will be able to obtain visas when visiting Sri Lanka, without a fee.

India is traditionally Sri Lanka’s top inbound tourism market.

In the September arrival figures, India topped with over 30,000 arrivals or 26 per cent with Chinese tourists trailing at over 8,000 arrivals as the second largest group.

Tourist arrivals to the island had slumped since the 2019 Easter Sunday bombings that left 270 persons, including 11 Indians, dead and over 500 injured.

Sri Lanka, which has been grappling with unprecedented economic turmoil since its independence from Britain in 1948, is also facing political unrest with protesters demanding President Rajapaksa’s resignation.

The economic crisis has prompted an acute shortage of essential items like food, medicine, cooking gas and other fuel, toilet paper and even matches, with Sri Lankans for months being forced to wait in lines lasting hours outside stores to buy fuel and cooking gas.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Travel experts recommend advance booking amidst rising tour costs during festive season

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Tourism has started picking up with the start of the festive season. While airfares and tour packages have become costlier for most destinations and routes, travel experts say that Uttarakhand, Madhya Pradesh and Meghalaya are popular among domestic destinations; and sea cruises, Myanmar and Turkiye as international destinations are gaining popularity among travellers.

India’s festive season, from October to March, has always been a big magnet for international tourists. Travel experts point out that it is also the season when over 3.5 million Indians living abroad try to visit home, which drives the demand for air tickets and hotel bookings. Indian tourists bound for international destinations also travel extensively during this period. And domestic travellers are also looking at tourist destinations beyond India’s neighbourhood.

Dr Subhash Goyal, Chairman of the Aviation, Tourism and Hospitality Committee of the Indian Chamber of Commerce told CNBC-TV18 that while Maldives, Nepal and Bhutan have always been popular destinations in India’s neighbourhood, Myanmar is the new kid on the block and is being considered value for money due to its clean surroundings, cultural activity and pagodas. Myanmar Airlines has also begun flights from Chennai, Kolkata and Delhi, and is soon going to start operations from Mumbai too.

Among budget travel, he termed river cruises and Sri Lanka as popular choices, pointing out that tourists can get a 5-star hotel in the island nation for $70 dollars with bed & breakfast, compared to $250 to $300 in India. For the super-rich, he said that destinations like the African safari, Ethiopia, river Nile in Egypt, Greece, Antarctica and cruises in Alaska and the Mediterranean cruise as in demand.

But travel to long-haul destinations is lesser during the festive season, as per travel portal Yatra Online, due to longer planning time and expenses. The company attributes the popularity of short-haul destinations during the festive season to lesser expense, travel time and lesser need for advance planning.

However, the company has said that the cost of travel packages has risen by 10 to 15% compared to previous years. This is due to rising fuel costs, increased demand for travel and inflation impacting overall travel expenses. Yatra Online pointed out that the most attractive destinations in India and abroad continue to be places that cater to small groups/families and couples, with travellers seeking a mix of relaxation, adventure, and cultural experiences.

While the Delhi-Agra-Jaipur circuit, Goa, Kashmir and Kerala continue to remain popular among inbound tourists, international tourist hotspots for Indians include Maldives, Thailand, Singapore and Dubai. Despite more advance bookings than in previous years, airfares have risen on most routes. Manan Bajoria, Group VP for Growth Marketing at Ixigo told CNBC-TV18 that advance bookings for Diwali this year (made 35 days in advance) have increased by 12% compared to 2022 and the leisure travel demand is at its peak, witnessing a 67% month-on-month increase in searches for Diwali travel.

While he described New Delhi, Mumbai, Goa, Jaipur and Varanasi as the most searched and booked domestic destinations during Diwali, he pointed out that with 25 to 30% higher domestic fares across most routes, many Indians opting for economical short-haul international travel. Giving an example, he said that the one-way fare from Bangalore to Jaipur near Diwali is around Rs. 13,500, whereas the Bangalore-Colombo one-way flight is Rs. 8,000 on the same dates.

Data from the Indian Chamber of Commerce suggests that airfares have risen by over 50-100% and tour packages are 30-40% more expensive than last year. With new destinations picking up in popularity and the all-time favourites witnessing a strong demand, industry experts advise potential travellers to book at least two to three months in advance to save money as well as ensure they get bookings to the destination of their choice.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

World Cup sets the ball rolling for gig workers — delivery riders, maintenance staff, chefs in high demand

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Ahead of the festive season, ICC World Cup 2023 is bringing cheer to several industries including tourism, e-commerce, and online streaming space, among others. This, in turn, is expected to create job opportunities, especially for those part of the gig economy.

Sachin Alug, CEO of NLB Services, told CNBC-TV18, “The ICC World Cup 2023 is expected to cascade new job opportunities across industries like tourism, e-commerce, travel and hospitality, and even logistics. We are already witnessing increased talent demand across these segments and it is likely that temporary job roles will further surge by at least 20% in the coming quarters.”

This comes alongside a Bloomberg report that cites estimates by economists at the Bank of Baroda which suggest the World Cup is likely to boost host country India’s economy by as much as Rs 20,000 crore.

Also Read: World Cup fever back in India — Zomato and Disney+Hotstar likely to benefit the most, hotel rates soar 150%

The tournament, which began on October 5 and runs through mid-November, is expected to draw large numbers of visiting fans domestically and internationally. With matches played across 10 cities, that will mostly benefit the travel as well as hospitality sectors, wrote economists Jahnavi Prabhakar and Aditi Gupta in a note on October 4.

Earlier in the day, Prashant Pitti, Co-founder of Easy Trip Planners, told CNBC-TV18, “This year, we have a bigger festival, which is called cricket and thankfully, it’s coinciding with a time of other festivals like Diwali because of which the demand has been unprecedented. The demand for this year is 72% more compared to last year.”

He added that demand has gone up especially on routes like Delhi-Ahmedabad with a surge of even 89%. “The biggest pie we are seeing is basically for Ahmedabad for the cricket match, which is due in the next week,” he said.

Against the backdrop of this increased demand, recruitment firm NLB Services foresees demand for gig workers, especially for last-mile logistics to increase by 20-40%.

Also Read: Travelling to India for Cricket World Cup 2023? Ensure you visit 6 of these 10 destinations

“As travel and hospitality players align their synergies for the much anticipated World Cup, host cities like Ahmedabad, New Delhi, Bengaluru, Pune, Chennai, Hyderabad, Lucknow, and Kolkata will have a confluence of jobs,” Alug said.

The staffing firm is anticipating a surge in the demand for roles like receptionist, maintenance staff, chef, cab driver, room attendant, riders, delivery executives, and customer support executives.

“Furthermore, travellers will be inclined to extend their stays to explore these lively host cities, consequently providing a substantial boost for roles like tour operator, guest relation executive, travel specialist, receptionist, housekeeping and chef, etc.,” NLB Services CEO added.

The overall positive employment trajectory in these industries is likely to continue after the World Cup as well, owing to the ongoing festive season, he highlighted.

Separately, reflecting on sectors, Karan Taurani, Senior Vice President and Research Analyst at Elara Capital, had earlier said he believes Disney+Hotstar and Zomato are likely to be the biggest beneficiaries of the World Cup. Apart from the travel and hospitality industry, which is witnessing massive demand and flight and room rates, the analyst also expects the alcohol industry to benefit.

Catch World Cup 2023 ENG vs NZ Live Score here

Also Read | Winning the ODI World Cup is something that I have always dreamt of growing up as a child: Rohit Sharma

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

October 2 extended weekend sparks surge in flight searches and hotel bookings

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The October 2 holiday on account of Gandhi Jayanti falling on a Monday has given another extended weekend opportunity to travellers, resulting in a more than 40 percent spike in flight searches.

Majority of the travellers are planning a four-five days long family holiday, noted Aloke Bajpai, Co-founder & Group CEO, ixigo, an online travel platform.

“We have seen a 44 percent week-on-week increase in flight searches for the Gandhi Jayanti long weekend. The strong demand around this weekend is an indicator of growth in travel in the coming festive months of October and November,” he added.

In addition to the World Cup, the long weekends and festivals in October, such as Gandhi Jayanti and Durga Puja, are further contributing to the rise in travel, said Rikant Pittie, Co-founder, EaseMyTrip.

He added that after the Gandhi Jayanti long weekend, Durga Puja and Dussehra is another long weekend which is attracting more travel with twice as many flight searches for Kolkata this year. “Visitors are predominantly coming from cities like Delhi, Mumbai, Chennai, Bangalore, Assam, and Orissa,” he added.

Pittie said that the October 2 long weekend has seen increased travel from Delhi to popular destinations like Mumbai, Goa, Rajasthan, and Himachal. “Travel searches during Gandhi Jayanti have significantly increased for routes such as Delhi-Mumbai, Delhi-Himachal, Delhi-Goa, and Delhi-Rajasthan,” he said.

Goa, Jaipur, Varanasi , Pune, Coorg, Dubai , Singapore and Maldives are some of the popular destination picks for the upcoming weekend, said Bajpai.

“We’re witnessing a 15 percent boost in spiritual retreats like Tirupathi, Varanasi, Puri, Mathura, and more. There’s a clear shift away from bustling cities towards the charm of smaller towns,” said Sripad Vaidya, Co-founder, Confirmtkt, a travel ticket search engine.

Beach destinations are also in high traction among travellers. “Beach enthusiasts are flocking to Pondicherry, Goa, Kanyakumari, and Calicut post monsoon, with a surge in bookings approximately twice as high when compared to the previous month, said Rohit Sharma, COO, AbhiBus, an online bus booking service.

He added that with Himachal opened for tourism again, Shimla and Manali are experiencing a two-fold to three-fold increase in advance bookings compared to the previous month.

Hotel demand

Hotels are also recording a surge in room bookings for the October 2 long weekend.

“For the upcoming long weekend, we have seen an uptrend in the demand for leisure and tourist destinations such as Goa, Jaipur, Bangalore, Chennai, Kerala, and Agra. These destinations have recorded average occupancy rates of 80 – 90 percent. This is an increase of 15 percent from last year. The RevPar (revenue per available room) during this holiday period has grown by 30 percent at leisure destinations, while city hotels display a stagnant demand, said Sudeep Jain, MD, SWA, IHG Hotels and Resorts.

He said that there is a significant surge in bookings as compared to FY23.

Pan-India premium hotel occupancy is expected to be at 70-72 percent in FY24, as compared to 68-70 percent in FY23, according to brokerage firm ICRA. It estimates premium hotel average room rates (ARRs) to be in the range of Rs 6,000-6,200 in FY24.

“The demand recovery has been strong in the last year, and we anticipate it to continue in FY24 as well. Sustenance of domestic leisure travel, higher bookings from meetings, incentives, conferences, and exhibitions (MICE), and business travel, along with an increase in foreign tourist arrivals (FTAs), would support demand,” the brokerage firm said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

World Tourism Day | Key investments to help you save extra for your next trip

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Planning a foreign trip or spending your dream vacation can be fun, but it is not always easy to set aside funds to realise your getaway. Strategic investment is the key to making your travel plans stress-free, regardless of whether you’re organising a quick break or a long-distance journey.

Here are various investing options to assist you in increasing your savings while still achieving your financial objectives.

Budgeting your holiday

Before diving into investment options, you must plan a budget, factoring in costs such as travel, exchange rates, time off from work, and the number of people traveling with you. What can really come handy here is research on destination, best time to visit and similar details that can help save a substantive amount. Also, you can plan the number of vacations you want to take in a year and places of visit.

Once you have these parameters in place, you can calculate the expenses you may incur in each trip.

Investment avenues

Long-term goals (over 5 years)

For travel plans that are more than five years away, consider investing in equity mutual funds. These funds have the potential for growth over the long term, helping your money accumulate for those distant adventures.

Here are 5-year and 10-year returns of some of the equity funds:

(Source: Moneycontrol; Note: The above mentioned funds shouldn’t be taken as any recommendation)

Medium-term goals (3 to 5 years)

If your vacations are planned in the next 3 to 5 years, experts suggest opting for debt and balanced mutual funds. These options offer a balanced approach with reasonable returns, aligning with the mid-term travel fund needs.

Notably, balanced funds are mutual funds that invest money across asset classes, including a mix of low- to medium-risk stocks and bonds.

Here are 3-year and 5-year returns of some of the balanced advantage funds:

(Source: Moneycontrol; Note: The above mentioned funds shouldn’t be taken as any recommendation)

Short-term goals (within 1-2 years)

Short-term vacation plans leave less time for your investments to grow. In such cases, liquid and arbitrage funds are advisable, experts say. These funds offer high liquidity and low risk, ensuring your money is readily available when you need it. 

While liquid funds invest in short-term corporate debt, providing low risk and the potential for higher returns compared to regular savings accounts, arbitrage funds are hybrid mutual funds that generate returns by using the strategy of simultaneously buying and selling the same underlying security or its derivatives in different market segments to make risk free profits.

Experts also recommend investing in ultra low duration debt funds. These funds lend to companies for a period of 3 to 6 months. They are also considered low-risk funds owing to their low lending duration.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow