US, Europe package tours partly funded with cash going south

Summary: MUMBAI: Package tours to the US and Europe are popular with a large section of Indian tourists. "On the night of November 8 itself, we decided not to take any cash bookings. If you go to any of our outlets and make a cash payment of Rs 2,000 or even a lower amount, we won't accept it. "There is a section of outbound tourists who book package tours paying part of the booking amount in cash to the agents they have known for years. Now, their hands are tied, their bookings have dropped,'' said an office-bearer of a travel agents group, requesting anonymity .Apart from package tours, the other segment that would be hit is the VFR (visiting friends and relatives) tourist.

MUMBAI: Package tours to the US and Europe are popular with a large section of Indian tourists. For some, it's the gastronomic comfort of tucking into the familiar paneer pasanda in Paris; for others, it's the sense of security in travelling with fellow Indians. But for many , the allure goes beyond food and company: it's the easy mode of payment that certain travel agents allow, especially part payment in cash.Post-demonetisation, the number of Indians opting for a foreign holiday , especially on package tours, is expected to see a dip in the coming summer.

"Across the country , both in metros and non-metros, there are many smaller travel agencies who deal in cash.They have done that for deca des, that's how it works. Now, their hands are tied, their bookings have dropped,'' said an office-bearer of a travel agents group, requesting anonymity .Apart from package tours, the other segment that would be hit is the VFR (visiting friends and relatives) tourist."They don't stay i n hotels; they stay abroad for longer durations, over a month or so. They are comfortable carrying cash.But the market confidence is low and add to that the frequ ent rule changes imposed by the RBI.

Source: http://timesofindia.indiatimes.com/city/mumbai/us-europe-package-tours-partly-funded-with-cash-going-south/articleshow/56193343.cms

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Source: US, Europe package tours partly funded with cash going south