Indians, It’s Time To Travel East
Economy • Travel & Tourism • August 27, 2015 • Saurabh Nanda
Bad Economy, Good Economics!
A good percentage of Indian travellers are put in the budget travel category and are considered to be quite particular about getting the most out of their budget. A few tips on why it will be a good idea to travel east in this time of economic crisis may come in handy for the desi outbound.
Experts say the recent crisis developing in China is going to impact the world economy at a larger scale than the dent we already saw and is going to last long. One of its side effects is that capital will start flying to safe havens as it normally happens when there is an economic crisis. This typically means, there is going to be capital flight from emerging economies to first world countries. Though not in absolute terms but largely the west represents the developed world and the east, is mostly the emerging markets for tours and travel and everything else. So, eastern currencies will fare far worse than western currencies, i.e. the US dollar and euro.
What does this imply for your next travel?
Flights towards the west are bound to get more expensive. Most international travels revolve around the cost of dollar and flights will get more expensive as the rupee weakens in dollar terms. If you are thinking of heading west, plan your travel in advance to feel less heat of the situation. If you are a tour operator, get your vacation reservation system in place right away to record and manage early bookings.
Where are the best destinations?
Look east. Look at places like Malaysia, Thailand, Singapore, Indonesia, Philippines, Vietnam, Laos, Cambodia or even Australia. Currencies of these economies are expected to fare worse than the rupee with respect to the dollar. These economies are largely intertwined with the Chinese economy and more bad news from China can only mean worse for these countries.
The airfares too may become even more reasonable as these economies will have everything on a discount. With budget airlines like AirAsia, you could plan a return trip for as low as ten thousand rupees.
Factors to consider when picking your destination
Urban or nature:
What kind of travel are you seeking? Are you looking to explore the cities or are you looking at an experience to be one with nature? East has great tour package options to offer both kinds of seekers.
Adventure sports & activities:
Are you an adrenaline junkie? Or are you just fond of the wild? East Asian countries are known for being good to tourists, have great adventure tour options to offer, treks in the wild and nature tours of different kinds.
You can get amazing deals, booking these tours in advance and take advantage of the fall in currency values.
Why not Eastern Europe? The PIIGS?
You may find stay and local travel quite reasonable but the air tickets will get expensive. It is an option worth considering, but the cost advantage won’t be great.
A bad international economic climate has a lot of opportunities to offer. This is a good time to travel and explore places without having to dig too deep into your pocket. You can get great deals if you know where to look. And, if you are in the business of tours and activities in the east or if you are a travel agent, rest assured your time’s going to fly by quite busy. However, if you have the right kind of tour/activity booking software integrated to your website or to your smartphone then it should be a smooth ride. All your operations, payments, marketing and distribution can be automated through a tour booking system. This leaves nothing much for you to do but design great tours and make your customers happy.
