Strengthening dollar price to impact Indian outbound market

The strengthening dollar against the depreciating rupee in the current volatile market conditions will have ripple effects on the outbound market of India. The already slow outbound market will face more trouble due to this exchange rate fluctuation. Commenting on the situation, Ashwini Kakkar, Vice-Chairman, Mercury Travels said, “Considering the fact that the outbound market is going to take off soon, the strengthening dollar rate will directly lead to expensive holidays thus reducing the number of people travelling abroad. The difference in dollar rate if compared to the same time last year is about 30 per cent.” Dhruv Shringi, CEO and Co-Founder, Yatra.com added that the strengthening dollar price will add to the already low performing outbound market due to the recession.

The dollar strengthening will also benefit the already suffering European market as the Euro and Pound rate is slashing. “International travel to European and also UK destinations will see a boost as travelling to these destinations will be cheaper than travelling to US and South East Asian destinations,” opined Veena Patil, Chairman and Managing Director,