Rupee at all-time high! Here are 7 tips for Indian travelers planning a holiday abroad
BusinessToday.In September 11, 2018
Planning a foreign trip is anyway a high-stress job. From accommodation to sight-seeing, not to mention visa woes and booking the right flight - it all boils down to the right planning. However, things can get a bit out of hand in times like this, when the rupee is continuously tumbling down. With the rupee at 72.73 against the US dollar, all your foreign travel plans may fall into disarray, but all's not lost.
Here are a few things to keep in mind before you start planning your holiday abroad:
1. Avoid Europe, USA - Well, only for the time being. Travelling to Europe or the USA is going to become a mighty costly affair around this time. Opt for lower-budget destinations this year. Quite a few Asian countries will provide you with a good break and you will be able to keep the cost under check. Shop in the markets of Jakarta this year or while away time at the beaches of Sri Lanka.
2. Strategic spending - You can still prevent the falling rupee from costing your much-awaited trip by booking and paying in advance. Surely, they won't cut down your costs but it will prevent further cost escalation. Paying for the entire package in advance will help in reducing the hole in your pocket.
3. Forex component - Along with paying your full payment upfront, pay the forex component as well. The forex component, can always be paid later but industry experts opine that paying it beforehand will prevent the sharp pinch.
4. Shorter trip - This one may lead to some heartburn but one good option to control your expenses is to plan for a shorter trip. You may have to cut down on the number of excursions, and may have to prioritise sight-seeing over shopping. Moreover, you can pick days when entry is free for tourists while sight-seeing. However, if shopping is of greater priority then you can always drop in at the nearest flea market.
5. Cheaper hotels - While a lot of travellers prefer to pay substantially for good hotels, you can also pick cheaper hotels with good amenities. Home-stays and bed-and-breakfasts are also great options for accommodations. There are specific apps and sites that offer only home-stays and bed-and-breakfasts. Solo travellers or travellers with a more restricted budget can also look for hostels.
6. Travel cards - Opting for public transport while sight-seeing is going to be very pocket-friendly. You can also get pre-paid travel cards that allow you to put in any currency you want. Furthermore, the value of rupee on the date money is put in will be counted.
7. Take cash - It is a good idea to carry a good amount of cash within the permissible limit as you may not get a good rate of exchange while in a foreign country.
(Edited by Anwesha Madhukalya)