What would you do if your holiday plan starts eating into your savings? You may probably drop the idea.
You won't be the only one. Rising travel cost forced a significant number of people to call off their annual foreign holidays this year, revealed a survey that covered at least 3,200 travellers.
According to a survey by travel portal TripAdvisor, only 50% respondents said they could afford a foreign vacation this year as compared to 64% in 2011.
Nikhil Ganju, country manager, TripAdvisor, India, said: “Rising airfares, high hotel tariffs and persistent inflation appear to be the main issues daunting holiday goers this year.” The situation was worsened by the weakening of the Indian rupee against the US dollar.
The survey added that only 7% respondents were sceptical about cutting corners on travel in the beginning of the year. But the number increased fourfold as 28% respondents said they took fewer holidays this year.
At least 60% respondents said they altered their holiday plans by opting for cheaper destinations, 17% cancelled a domestic trip, 16% reduced the duration of their trip and 10% traded an international destination for a holiday closer home.
Thane resident Sumeet Dey said he had to settle for a trip to Ooty instead of going to Dubai to bring in the New Year. “Ooty will cheaper because a cousin lives there,” Dey said.
At the start of the year, 44% respondents thought they would spend more on their holidays this year. However, 56% respondents actually exceeded their last year’s budget.