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Demonetisation: Tourism sector may face the heat this winter

The online travel industry is bullish about the growth prospects after the demonetisation is settled

Ajay Modi & Aneesh Phadnis  |  New Delhi/Mumbai 

The onset of winters, followed by Christmas and the New Year, is a peak season for the travel industry, inbound, outbound and domestic. This year, however, the prospects of this peak season look subdued as fallout of the demonetisation drive. The consequent liquidity crunch is especially impacting the large offline travel operators who mostly work on cash for flights, hotel bookings and packages.  An immediate impact is being felt across the industry in new bookings while foreign tourists are troubled due to inadequate availability of local currency.  “Foreign ...

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