MUSCAT -
The sharp decline in the value of the rupee has deterred Indian expatriates in the sultanate from taking a leisure break during Eid holidays, and they are opting to send money back home to take advantage of the favourable exchange rate.
With the onset of Ramadan and travellers looking forward to Eid holidays, travel agencies have reported a decline in the bookings by Indian expatriates this year.
With the Indian currency tumbling to fresh lows, the average value of the rupee against the Omani rial has been in the RO153-155 range since the start of Ramadan, as compared to same period last year when it was between RO142-145.
The rupee dropped to a record 61.21 against the dollar on July 8. It closed Tuesday at 59.72.
"We have observed a decline in the number of Indian expatriates planning to travel abroad during Eid holidays this year. Due to the fall in the value of the rupee, people prefer to send money home rather spending it on leisure and travel. We have been receiving queries but the queries are not getting converted into business due to this dilemma in their minds. And as for the Omani population, the Far East still remains the most favourable destination for travel," said Sunil Prabhakar, CEO of Travel Point.
Echoing these views, Suraj Shroff, manager for outbound travel at Zahara Holidays, said, "Fewer Indian expatriates are planning to travel abroad this year for Eid holidays, one of the reason being the fall in the value of the Indian currency. Expatriates wanting to travel to Europe are also facing difficulties in getting appointments with European consulates for visas. Airfares are also not competitive and on the expensive side. As for Omanis, places like Malaysia and Singapore still remain the favourites."
Although the Far East still remains the most sought-after holiday spot, Istanbul, the Maldives and Paris, are also popular with holidaymakers. Travel agents are offering tailor-made promotions, apart from tour packages, ranging from short three-to-four-day trips to extended seven-to-ten-day options in order to attract more travellers and to make them aware of other destinations.
"Omanis as well as expatriates will be travelling more to places like Istanbul, Kuala Lumpur and Paris for their Eid holidays. As for Indian expatriates, we have still not seen a considerable decline in the number of travellers but it is still to early to comment about the coming weeks," said Shankar Bose, general manager of Bahwan Travels.
Source: Muscat Daily
