ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2023
  • Adani Saga
  • Markets
    • Stocks
    • Global Markets
    • IPO
    • Companies
    • Currency
    • Commodities
  • My Money
  • Calculators
    • Income Tax Calculator
    • Home Loan/EMI Calculator
    • Mutual Fund Returns Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • SIP calculator
    • Lumpsum Calculator
    • SWP Calculator
  • Videos
    • M Se Market
    • Jeb Zindagi Zaroorat
    • Light Camera Stocks
    • Tech Takes
    • Big Bulls Ka Nishana
    • Paisa Wasool
    • Commodity Ke MrityunjayMantra
    • The Right Property Show
  • Economy & Infra
    • Policy & Initiatives
    • Agriculture
    • Telecom
    • Aviation
    • Railways
    • Retail
    • Roadways
    • World Economy
  • Exclusive
    • Wealth Guide
    • Interviews
  • Auto
    • Cars
    • Bikes
    • Electric Vehicle
    • Commercial Vehicles
  • Tech
    • Mobiles
    • Gadgets
    • Reviews
    • Tips and Tricks
    • Apps
  • Real Estate
    • Home Buyers
    • Builders
  • Axis MF
  • Trending
    • Entertainment
    • Politics
    • Lifestyle
    • Travel
    • Sports
    • Viral
    • Education
    • Jobs
Read in App
Business News » Companies News

Hotel rates, airline tickets 30-35% cheaper in December due to cash crunch

The cash crunch due to demonetisation has resulted in consumer sentiment going down and has resulted in a large decline in tourist bookings in December.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Hotel rates, airline tickets 30-35% cheaper in December due to cash crunch
Tourism in India declines. Photo: Pixabay

All those of you are planning to bring in the new year with much fanfare have something to cheer about in Prime Minister Narendra Modi's demonetisation drive. Hotel rates and airline ticket prices are cheaper by nearly a third in December due to the ongoing cash crunch situation.

Due to the drop in bookings due to the cash crunch and consumer sentiment being affected, it has resulted in a drop in the fares of hotels as well as airlines, according to the associated chamber of commerce and industry of India (ASSOCHAM).

The shortage of cash has dampened the consumer confidence and has impacted the tourism industry during the peak period in December which sees a significant tourist spends due to the Christmas and New Year holidays. 

Many of the popular tourist destinations in India such as Kerala, Uttarakhand, Madhya Pradesh, Rajasthan, Uttar Pradesh and Ahmedabad have reported a 65% drop in bookings. Goa being the exception as tourist bookings are catching up of late, the report said.
 
However, the demonetisation drive by the government has severely impacted tourism this December. Business from domestic tourism has gone down by well over 65%, while there has been a drop in booking of around 40-45% for international tourists.

The flow of tourists coming under organised packages and groups has not been affected, but many of those who do not plan their stay in advance have cancelled their trips. The tourists visiting the state, especially foreigners, also complain of difficulties in getting their currency exchanged, it added.

“While the travel trade including airlines, hotels and railways have mostly shifted to online bookings, the impact is seen largely because of erosion in the consumer confidence as most of the self employed people have been witnessing a sharp decline in earnings while professionals employed in the organised sector too have been affected psychologically by the "scarcity syndrome",” said D S Rawat, Secretary General ASSOCHAM.

Watch Zee Business report here:

 

 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Hotel ratesAirline ticketscash crunchHotel & TourismASSOCHAMDecemberDomestic touristsAviation
Written By: Collin Furtado
Updated: Tue, Dec 20, 2016
12:48 pm
Mumbai, ZeeBiz WebDesk
RELATED NEWS
Tourism Ministry approves Rs 500 crore fund for projects in Jammu & Kashmir Tourism Ministry approves Rs 500 crore fund for projects in Jammu & Kashmir
Tourism Ministry to attract investment of Rs 50,000 crore in tourism Tourism Ministry to attract investment of Rs 50,000 crore in tourism
Tourists arrival on e-Tourist Visa up nearly 197% in August Tourists arrival on e-Tourist Visa up nearly 197% in August
Tamil Nadu was first choice for Indian and foreign tourists last year Tamil Nadu was first choice for Indian and foreign tourists last year
Foreign exchange earnings from tourism rose 20% in July Foreign exchange earnings from tourism rose 20% in July

LATEST NEWS

ITC Q3 results today; what to expect in cigarette maker's earnings report

Marico Q3 Results 2023: Net profit rises 5% to Rs 333 crore, revenue up 2.6% to Rs 2,470 crore

Traders' Diary: Buy, sell or hold strategy on ICICI Bank, TCS, Wipro, Birlasoft, IndusInd Bank, 15 other stocks today

Q3 Results 2023: Emami December quarter PAT up 6%, Tata Power net profit doubles

Q3 Results 2023: Aditya Birla Capital, JK Tyre, Ethos declare December quarter results - HIGHLIGHTS

Adani Enterprises to be removed from Dow Jones Sustainability Indices

I-T dept raids over 30 locations of 5 builder groups across Jaipur

Moodys says stock plunge to hurt Adani Group ability to raise funds Adani Enterprises Adani Ports

Railways plans to upgrade ticketing capacity from 25,000 to 2.25 lakh per minute: Union Minister Ashwini Vaishnaw

DigiYatra App: Check airports list and how to use for hassle free check-ins

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2023. India Dot Com Private Limited. All Rights Reserved.
LIVE TV