10 months ago
Weaker Rupee Hurts Students, Tourists Abroad
The Indian rupee has become weaker compared to other important currencies like the US dollar, UK pound, and Euro.
This is bad news for Indian students studying abroad in countries like the UK, Germany, and France, as well as for tourists planning to travel to these places.
Students will have to pay more for their studies and travel, while tourists will find that their travel budgets don't go as far.
Even trips to Southeast Asia are affected because many of these countries use dollars, pounds, or euros instead of rupees.
Experts say this will make travel more expensive and might force people to cut short their plans.
Only a few countries like those in the Middle East, Nepal, and Sri Lanka still use the rupee, making them better options for Indian travelers.
Rupee has depreciated 7% against USD, over 10% against Pound, and over 7% against Euro in the past year.
Indian students studying in UK, Ireland, Germany, and France will face higher tuition fees and travel expenses.
Tourists traveling to the US, Canada, Europe, and even Southeast Asia will experience increased costs for airfares and hotels.
A weaker rupee has a multiplier effect on travel budgets, potentially forcing tourists to cut short their plans.
Only a few countries like those in the Middle East, Nepal, and Sri Lanka exchange in Indian rupee, making them more affordable for Indian travelers.
- Who
- Indian students, tourists, and travelers
- What
- Weaker rupee against major currencies
- Where
- Key destinations include UK, Ireland, Germany, France, US, Canada, and Southeast Asia
- When
- Past one year, with significant impact on upcoming winter travel
- Why
- Depreciation of rupee by 7% against USD, over 10% against Pound, and over 7% against Euro
Key facts
- Currency Depreciation
- Rupee down 7% vs USD, 10% vs Pound, 7% vs Euro
- Affected Groups
- Students, tourists, medical travelers, destination weddings
- Key Destinations
- UK, Ireland, Germany, France, US, Canada, Southeast Asia
- Impact on Students
- Higher tuition fees, travel expenses
- Impact on Travel
- Increased airfares, hotel costs, budget constraints
- Stable Exchange Rates
- Middle East, Nepal, Sri Lanka prefer rupee
- Expert Opinions
- Suresh Kumar (Truematics), Iqbal Mulla (Global Tourism Council)
Quotes
Suresh Kumar
Director of Truematics
“Parents will have to shell out more money for the tuition fee as well as other expenditures of their wards studying across these countries. The students planning to leave in January too will have to spend more on air fares and other travel-related expenses.”
deccanchronicle.com
“While we are talking about the rupee's weakness against the US dollar, not much is being discussed about the rupee's weakness against other major currencies like the UK’s pound and Euro. This is a major concern for international students.”
deccanchronicle.com
Iqbal Mulla
Chief consul of Global Tourism Council
“It has a multiplier effect on travel. The cost of airfares, hotels, and all other expenses go up. Tourists with a fixed budget will have to cut short their plans.”
deccanchronicle.com
“There are very few countries like those in the Middle East, Nepal or Sri Lanka, which exchange in Indian rupee.”
deccanchronicle.com
