Hazel Jain

Money exchange industry requests extension of TCS exemption to other forex instruments

The All-India Association of Authorized Money Changers & Money Transfer Agents has demanded the inclusion of foreign currency cash, wire transfers through banks, pre-paid forex cards and other international payments into the TCS exemption ambit offered to overseas transactions using debit and credit cards under the Liberalized Remittance Scheme (LRS).

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64.1% of Indian respondents say they would travel more locally: Economist Impact report

A report by Economist Impact exploring the recovery of tourism in Asia-Pacific region finds that more than half of all travellers plan to spend either the same or more on their next holiday compared to what they would have spent pre-pandemic. About 64.1% of Indian respondents say they would travel more locally as would a majority of millennials (60.3%) and parents with young children.

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Advantis and Cordelia Cruises join forces to elevate Sri Lanka’s tourism industry

The transportation and logistics arm of the Hayleys Group, Advantis announced a partnership with India’s cruise line, Cordelia Cruises to usher in a new wave of in-bound luxury tourists to Sri Lanka. Advantis Travel and Aviation will serve as the General Sales Agent, while Advantis Group subsidiary Clarion Shipping will serve as Port Agent for Cordelia Cruises in Sri Lanka. Cordelia Cruises aims to revolutionise the tourism market in the region by offering an extraordinary cruise experience that exudes style and luxury through its crown jewel – “The Empress”, an iconic vessel with 796 cabins in 5 distinct categories filled with state-of-the-art amenities, the ship is capable of accommodating 1,800 passengers. The luxury cruise line will embark on its inaugural sailing to the island, in June 2023. The collaboration marks a milestone in Sri Lanka’s efforts to revitalise inbound tourism and capitalise on the island’s significant untapped potential as an international hotspot for cruise tourism. Embarking on a cruise journey to Sri Lanka opens up a world of thrilling shore excursions for travellers, with Jaffna, Hambantota, and Trincomalee serving as bases. These exceptional locations offer an opportunity to embark on unforgettable adventures that showcase the very best of Sri Lanka’s rich heritage, breathtaking natural beauty, and vibrant cultural diversity. A significant boost to the Sri Lankan tourism industry is anticipated, attracting an estimated 80,000 tourists within the first four months alone. This surge is set to unlock significant commercial opportunities for the tourism value chain, drive economic growth and position Sri Lanka as a premier destination for discerning travellers, providing a timely impetus to the country’s travel and tourism industry. Cordelia Cruises President and CEO, Jurgen Bailom stated: “Sri Lanka …

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J&K expects to see 20 mn tourists this year, govt mulls 100% FDI for tourism infra: Reddy

Union Minister for Tourism, G Kishan Reddy said that Jammu & Kashmir expects to see 20 million tourist arrivals and that the government is mulling 100% FDI to create tourism infrastructure across the country with special focus on J&K. “In year 2022, 1.84 crore tourists visited J&K and this year, we expect 20 million tourist arrivals including foreign guests. Without private investment we cannot become a world tourist destination that is why we want investment globally and locally,” he said.      

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Need bilateral understandings with different states to attract more FTAs: Goa Tourism Minister

“We need to connect and ensure that we have bilateral understandings with different states and that is the objective behind going to Dehradun on the first flight,” said Goa tourism minister Rohan Khaunte. “International tourists who come to Rishikesh and Haridwar do not reach Goa. We thus lose tourists who have a high tourism spend. We need to tap this and see how exchange of tourists can take place,” he said. It recently signed an MoY with Uttarakhand to boost tourism.

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We are witnessing the so-called saver becoming a spender: Thomas Cook India CMD

According to Madhavan Menon, CMD, Thomas Cook (India), “We will see Indians travelling both short-haul and long-haul. I think we are witnessing the so-called saver becoming a spender. This stems from one fact of their confidence in the economy. This is not coming from anywhere. It is not just pandemic driven. It is also the fact that people are confident that the economy is growing, their jobs are secure, and they expect things will improve from here.”

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If you’re planning to expand into a new market, take care of cultural differences: Rikant Pitti

Speaking about expanding overseas, Rikant Pitti, Co-Founder, EaseMyTrip.com says, “I never dreamed of expanding overseas. Conquering a global market is never easy. But we always followed our path of building patiently. We chose the right market, started building local partners. If you are planning to expand into a new market, there are a few things you need to take care of first, like cultural differences. You don’t want your customers to feel that you are alien to them. Being aware of their unique culture, language, and habits is essential for growth.”

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