In a major sign of rupee fall affecting the country’s movie industry, as Assocham report states that the influx of Bollywood films towards exotic foreign locations have declined by 30-35% in the last four months, opting for non-dollar destinations.
According to the report, there are some changes in travel patterns' as majority of film-makers are opting for non-dollar destinations such as Sri Lanka, Dubai, Bali and Phuket or sticking to domestic destinations such as Kashmir, Kerala and Goa.
It highlights that over the past four months travel costs and accommodation have gone up by around 25-30 percent. The falling rupee is definitely resulting in a slowdown in foreign location and spending abroad amongst Indian film-makers. As a result, Indian film-makerss may restrain from taking a foreign location. They are likely to save money by choosing a domestic destination, the ASSOCHAM finding adds.
In recent past, films like Zindagi Na Milegi Dobara (Spain), Rockstar (Czech Republic),RA.One (United Kingdom), Don 2 (Germany), Ek Main Aur Ek Tu (US) were extensively shot in overseas locations.
While there was a 40% increase in overseas locations in 2012, Indian locations saw a fall of 20%. However, the fall of rupee marching towards Rs 70 versus dollar has led to a drop in overseas locations by 30% and rise in domestic locations by 35%, the report adds.
|40% (increase)||30% (fall)|
|20% (fall)||35% (increase)|
Releasing the ASSOCHAM paper on “Weak rupee dampen spirits of bollywood film-makers in foreign location” D S Rawat, Secretary General, Assocham said that there will be more cut down in the number of films shot abroad, especially medium/low budget films and the films opting for lesser expensive destinations in South East Asia, Middle East and South Africa would increase.
“For film-makers, the cost turns out to be much higher from foreign countries mainly form USA, UK, Germany, France, Sweden, Italy, Ireland and Denmark in Europe. Indian films producers are also reducing the number of days from packages and looking to offset those costs by opting for shorter duration stays and looking at budget accommodation options”, he added.