An independent pre-budget online poll revealed that 81% of Indian travellers are hoping that India's Finance Minister will announce a consumer friendly budget that will boost travel and tourism opportunities.
With the holiday season fast approaching, most Indian's have started planning their annual holiday. But recharging oneself does not imply that people will spend all their life savings on relaxation and rejuvenation. A survey carried out by leading global travel search site Skyscanner revealed that 64% of Indian travellers are planning to spend no more than INR 20,000 on their holidays this year.
Around 1,000 Indian travellers polled on Facebook between the 11th - 20th of January were asked how much they would be willing to set aside for an annual holiday. Nearly two-thirds of the respondents (64%) were in favour of spending less than INR 20,000 with a third of the travellers (26%) opting to spend between INR 17,500-35,000. Interestingly, a small segment of those polled (1%-2%) plan to spend Rs100,000 on their holidays this year.
Drawing comparison with a similar global survey conducted earlier this year amongst 1,000 travellers, an overwhelming 58% of international travellers said they said they would choose to getaway, regardless of their financial situation. The survey revealed that 59% of UK citizens admitted to overspending on their holiday budget when they get away. In sharp contrast, Indian travellers are very price conscious and thus look for the best deals and 'value for money' offers. For instance, with the recent announcements of several low cost airlines offering discounted tickets, most travel search sites and airline websites crashed on account of the sudden rush in bookings.
Kavitha Gnanamurthy, Skyscanner’s Market Development Manager for India, said: “Holidays are looked upon as a chance to temporarily disconnect from your current chaotic lifestyle and escape to that haven of peace and tranquillity. While holidays are important to Indians, our survey results indicate that Indian travellers choose not to go over-board when it comes to spending for an annual vacation, in contrast to the general international trend.”
Gnanamurthy, further added, “With the recent announcement of low cost airlines reducing their airfares, we have seen a huge spike in traffic from India to our site, up by almost 57% this week as compared with the same period last week. Therefore it comes as no surprise that price-conscious Indians would like their travel to become more affordable with the coming budget announcement.”
India Infoline Research Team / 14:59, May 20, 2015
GPIL reported 13.5% yoy decline in operating profit as the impact of higher volumes was offset by lower product prices