RECORD TRAVEL
U-Turn: Sensex, Nifty erase gains after hitting record highs
From the Sensex pack, Infosys, HCL Tech, TCS, and Bharti Airtel opened higher, while Tata Motors, Kotak Mahindra Bank, Bajaj Finance, and ICICI Bank opened in the red.Shares of Kotak Mahindra dropped 2% after US short-seller Hindenburg said that the lender created and oversaw a fund that Hindenburg investors used to short Adani stocks.
Bot voyage: Can GenAI-based innovation ease turbulence in air travel
India's aviation sector embraces cutting-edge AI solutions to enhance customer experience, optimize operations, and propel efficiency, revolutionizing the industry dynamics.
Indians up their game on foreign vacations with luxury hotels, formula 1 drives and epic train rides
Indians are driving luxury travel in the Asia-Pacific region, with 89% of them planning to spend more in the next 12 months. This is according to a report released Monday by Marriott International on high networth travellers in the Asia Pacific.
Indian foreign spending skyrockets 29-fold in a decade
Over the past decade, Indian expenditures on foreign exchange have surged dramatically, increasing from $1.1 bn in FY14 to $31.7 bn in FY24, driven largely by travel expenses. In contrast, remittances from overseas workers into India grew by 71%, rising from $70 bn to $120 bn over the same period. India remains the top recipient of foreign remittances globally, receiving nearly double the amount received by Mexico at $66 bn.
Why it feels like everyone in the world is heading to Japan right now
Tourism in Japan is booming like never before, with a historic collapse of the yen making travel cheaper. Over 14.5 million visitors arrived in the first five months of 2024, a 70% increase from last year. The weak yen has made everything from dining to hotel stays more affordable.
Oil prices edge higher as supply risks mount
Oil prices responded to geopolitical tensions and supply disruptions, with concerns over fuel demand dynamics. The market saw gains in Brent and WTI futures amidst heightened uncertainties, while attention remained on the impact of geopolitical conflicts on oil supply. Anticipation of increased gasoline consumption over the July 4th weekend offered some relief amid persisting demand challenges.
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Expect improvement in occupancy vis-a-vis the previous year from Q2: Patanjali G Keswani, Lemon Tree Hotels
While you can say that in spite of heat it was decent performance, I am looking at trend lines and I expect the catch up will happen really from Q2 when there will be improvements vis-a-vis the previous year in occupancy.
When will Carin Leon begin Boca Chueca Tour 2024? Know about deal he has signed with Virgin Music Group and Island Records
Popular regional Mexican musician Carin Leon has made a new deal with two other well-known companies. Six of Leon’s songs have reached No. 1 on Billboard's Regional Mexican Airplay chart.
Going forward, expect good growth from Aadifidelis Solutions: Shikhar Aggarwal, BLS International
Shikhar Aggarwal, Joint MD, BLS International Services talks about inclusion in Nifty tourism index, synergies from buying stake in Aadifidelis Solutions and more. Aggarwal also discusses the major contract renewals which are expected in the next six to nine months. He also says that in one, one-and-a-half years, multiple contracts are expected from European and North American markets
Tourists keep disappearing in Greece. What to know as death toll from heatwave rises
Deadly heatwaves are scorching cities on four continents, highlighting the severe impacts of climate change. Record-breaking temperatures could make this summer the hottest in 2,000 years, surpassing last year's record.
Flying windows, fatal turbulence: Is flying in planes safe right now? Here is how to understand disruptions
Air travel disruptions, from minor mechanical issues to severe incidents, often cause anxiety but are rarely dangerous. Aviation experts stress that these problems are usually manageable due to rigorous safety protocols and backup systems, ensuring that flying remains one of the safest modes of transportation despite occasional alarming events.
Travel dominates forex spending abroad: RBI data
Outward remittances from India under the liberalised remittance scheme fell by 2% year on year. Travel was the largest chunk of foreign currency outflows in April, with maintenance of close relatives being the second largest reason for remittances. Indians spent $31.7 billion overseas under the LRS in the fiscal ended March 2024.
Ixigo IPO: A look at the online travel aggregator’s listed rivals
The travel industry, which had taken a beating during the Covid-19 period, witnessed a smart recovery post-pandemic, with some players registering more than double-digit growth in FY23 compared to FY20.
Mike Tyson suffering from THIS serious health issue, everything we know
Mike Tyson has given us major health scares in recent times but his underlying condition that affects both, his mobility and his speech, is alarming. Tyson was, earlier in 2022, seen in a wheelchair, and his ability to re-enter the boxing ring has been questioned several times. The Jake Paul v/s Mike Tyson fight has also been postponed to November, according to latest reports.
D-St benchmarks settle at new peaks! Sensex rises 204 points; Nifty tops 23,350
Indian equity benchmarks reached new highs driven by US rate-sensitive IT stocks following softer-than-expected US inflation data, fueling anticipation of earlier interest rate cuts by the Federal Reserve.
Bookings for no-visa destinations observes rise among Indian tourists this summer
Bookings for visa-free destinations from India are surging this summer, driven by young Indians. Airbnb reports 80% of bookings in Thailand by Indian guests are from Gen Z and millennials, with searches increasing over 200% during Easter and Holi long weekends.
Wait for Ixigo to list before taking a call
Le Travenues Technology, the promoter of Ixigo, is raising ₹740 crore through an IPO, with a fresh issue of ₹120 crore and an OFS of ₹620 crore.
Space Elevator to be ready by 2050. Press a button and you are in space. Details here
A Japanese company is developing a space elevator to take tourists into space in an elevator at the press of a button. This project will be ready by 2050.
Airport industry's pre-tax profit to grow 35% in FY25, CAPA India says
India's airport industry is expected to see a 35% rise in pre-tax profit for fiscal year 2025, driven by strong demand for air travel, as estimated by aviation consultancy CAPA India.
Travel platforms see bookings hot up for chilly destinations
Travel companies are experiencing a surge in bookings as extreme heatwave conditions drive people to cooler destinations like Kullu, Manali, and Ladakh from Delhi. Flight fares to Leh have increased by 54%, with searches for last-minute escapes also rising.
For women travellers, IndiGo introduces new feature for seat selection
IndiGo introduces new feature for female passengers during web check-in, offering visibility of seats booked by women travelers, aligning with #GirlPower ethos.
Airfares peaking as travellers in Europe, Asia seek savings
Airfares in Europe and Asia are plateauing or declining, signaling a slowdown in post-COVID travel demand. Airlines are facing challenges with higher costs and limited aircraft availability.
Temperature surges, so does summer travel this year
According to MakeMyTrip's summer travel trends, the family travel segment has grown by 20% this year, as compared to the summer of 2023, while solo travel grew by 10% over last year's numbers. In terms of most booked holiday packages this summer, destinations with cool mountain terrains are the top picks with Himachal Pradesh, Kashmir, Goa, Kerala and the North East emerging as most sought after places.
Purnima Shrestha of Nepal breaks the record by climbing Mount Everest three times in two weeks
Nepali photojournalist Purnima Shrestha achieves record-breaking feat by summiting Mount Everest thrice in one climbing season, making history. She previously climbed Everest four times, with her latest ascent on May 12. Her achievement recognized by Nima Doma Sherpa as a first in mountaineering history.
IndiGo announces foray into business class after record profit
IndiGo said that business class will be available on the busiest routes of the country which sees heavy corporate traffic and will be operational before the end of this year. Coming August, around IndiGo’s anniversary, more details on product offering, launch date and routes will be unveiled.
Indians break records with $31.7 billion overseas spending in FY24; international travel biggest expense
The Liberalised Remittance Scheme (LRS) witnessed Indians spending a record $31.7 billion overseas in FY24, up 17% from the previous year, despite the introduction of tax collection. The data reveals a surge in international travel spending, surpassing education expenses. Travel expenditures accounted for 53.6% of LRS spending, marking a significant shift from pre-pandemic trends.
Thomas Cook India Group reports net profit of Rs 271 cr for FY24
On a quarterly basis, Thomas Cook India Group reported a total income of Rs 1693 crore for the quarter ended March 31, up from Rs 1324 crore. The company reported a net profit of Rs 58 crore for the quarter ended March 31, 2024, up from Rs 10.2 crore for the fourth quarter of fiscal year 2023.
Ayodhya, Lakshadweep record highest growth in searches this summer: MakeMyTrip
MakeMyTrip's summer travel trends reveal Ayodhya, Lakshadweep, and Nandi Hills among the domestic destinations with the highest growth in searches, while Goa remains the most-searched. Puri and Varanasi top the list for pilgrimage destinations, with Ayodhya witnessing a surge in search volumes. Internationally, Baku, Almaty, and Nagoya show significant growth in searches, alongside Luxembourg, Langkawi, and Antalya. Family travel has grown by 20%, and solo travel by 10% compared to last summer.
Soon travel time between Mumbai and Pune to come down to just 2 hours. Here is the latest update
Mumbai-Pune commuters face prolonged travel woes as the crucial cable-stayed bridge, part of the Rs 6,695 crore missing link project, encounters delays. The bridge, initially set for July completion, may extend to March, hindering the anticipated half-hour travel time reduction, as per Mumbai Mirror. Challenges including wind, visibility, and COVID-19 hinder progress. Nonetheless, completion promises smoother travel, bypassing the treacherous ghat section and cutting travel time by 30 minutes.
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