The value of the
Indian Rupee, which has fallen below the psychological resistance level of
59.52/dollar, has put a spanner in the works not only for students planning to
study abroad, but also for those who had plans to vacation Abroad. With foreign
trips becoming quite costly for Indian Tourists, many people are either
cancelling or cutting short their foreign trips, or opting for Domestic
Holidays, says a survey conducted by the Associated Chambers of Commerce and
Industry of India (ASSOCHAM). According to the survey, "the Foreign
Tourist outflow registered a significant decline to the extent of 15-20% due to
the falling Rupee. In the wake of the record Rupee Depreciation, Indian
Tourists are not just cutting their vacation days, but are opting for holidays
within the country rather than going abroad."
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