DOMESTIC TOURISM SPENDING INDIA
Middle East's Schengen style GCC tourist visa approved, to be rolled out 'soon'
The long-pending unified tourist visa for Gulf Cooperation Council (GCC) countries has received official approval and is set for rollout soon, UAE’s Minister of Economy Abdulla bin Touq Al Marri confirmed on Monday. The visa will allow seamless travel across the six GCC nations — UAE, Saudi Arabia, Bahrain, Qatar, Oman, and Kuwait — under a single permit.
IndiGo announces direct flights from Delhi to Jorhat and Tiruchirappalli
IndiGo will launch new direct flights. Delhi will be connected to Jorhat in Assam four times a week from September 20, 2025. Daily direct flights will also connect Delhi to Tiruchirappalli, Tamil Nadu, starting September 16, 2025. These flights will boost tourism and trade. IndiGo had earlier announced a direct flight between Tiruchirappalli and Jaffna from March 30, 2025.
Cordelia Cruises operator Waterways Leisure files DRHP to raise Rs 727 crore via IPO
Waterways Leisure Tourism, operator of Cordelia Cruises, has filed its DRHP with SEBI to raise Rs 727 crore via an IPO consisting entirely of fresh shares. The company will use Rs 552.53 crore for lease-related payments to its step-down subsidiary and the rest for general corporate purposes. The IPO follows the book-building route with 75% reserved for QIBs.
Protesters in Europe march against over-tourism, target tourists with water guns
Thousands protested across southern European cities, including Barcelona, Venice and Lisbon, against the detrimental effects of overtourism. Demonstrators voiced concerns about soaring housing costs and displacement, accusing uncontrolled tourism of ruining their cities. Protesters are urging for a radical decrease in tourist numbers and a shift towards alternative economic models that prioritize residents' well-being over tourism revenue.
First group of 36 pilgrims for Kailash Manasarovar Yatra arrives in Sikkim, moves to 17 Mile
After six years, the first group of thirty-six pilgrims for the Kailash Manasarovar Yatra has reached Gangtok. They will acclimatize in the 17 Mile area before proceeding via Nathu La pass. The pilgrims will cross the India-China border on June 20. This year, seven hundred fifty Indian pilgrims are selected for the yatra.
US braces for a $12.5-billion chill in summer travel as foreigners give America a miss
The U.S. travel sector faces uncertainty as international arrivals decline, particularly from Canada, impacting revenue projections for major hotel chains and travel platforms. Political tensions and economic anxieties are deterring foreign and domestic tourists. While domestic travel sees a slight increase, the industry anticipates a $12.5 billion loss this year.
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India, Cyprus expand ties in financial sector, create trilateral with Greece for business promotion
Prime Minister Modi and the President of Cyprus convened a roundtable with business leaders, emphasizing India's economic transformation and opportunities for Cypriot companies. Discussions highlighted India's growth in sectors like aviation, shipping, and digital payments. Agreements were forged to enhance financial services and cross-border payments, fostering stronger economic ties and trilateral cooperation.
Tourism in J&K's Pahalgam limping back to normalcy
Pahalgam's tourism is recovering after a terror attack. Locals and tourists from Punjab are visiting after Eid. Kashmiris are enjoying special attention and lower prices. Parks are reopening to attract more visitors. Some tourists from other states have also returned. Pony owners hope for more local visitors before winter. The Amarnath Yatra is expected to boost the tourism sector.
India 'satisfied' with $400 million currency swap that boosted Maldives' FX reserves
India expressed satisfaction over the USD 400 million currency swap with Maldives, which boosted the island nation's foreign exchange reserves. Fitch affirmed Maldives' sovereign rating, acknowledging the increased Forex reserves driven by the currency swap between the Reserve Bank of India and the Maldives Monetary Authority. However, persistent fiscal vulnerabilities complicate debt refinancing.
Spain, Italy, Portugal see massive protests. Here's why
Spain, Italy, Portugal attract large number of tourists yearly. However, protesters claimed that there is over-tourism.
Indian tourists top Sri Lanka arrivals in 2025 so far
The number of tourists arriving in Sri Lanka since January 2025 has increased to 10,51,096 with the release of the latest figures for April, the data from the Sri Lanka Tourism Development Authority (SLTDA) said, adding that 2,10,074 individuals were from India, 1,10,818 from Russia and 98,158 were from the UK.
Rs 11 lakh crore corporate capex beats govt capex; RIL top contributor: Report
Corporate capex by listed non-financial companies jumped 20% YoY to over Rs 11 lakh crore in FY25, exceeding the government’s spending and reflecting broad-based growth, per ICICI Securities. While Reliance Industries led in scale despite flat growth, capex in telecom and RIL remained muted, underscoring the diversified nature of corporate investments this fiscal.
Carney to bring “Canada Strong Pass”, a subtle but sweeping attempt to rewrite how Canadians travel and remember
The Canadian government will soon launch the Canada Strong Pass. This initiative aims to unite citizens and reduce travel expenses. The pass offers free VIA Rail travel for children with parents. It also provides free or discounted access to museums, parks, and historic sites. The program seeks to encourage domestic tourism and appreciation for Canada's heritage.
Industry seeks government sops to revive tourism in Kashmir
Following the Pahalgam terrorist attack, airlines and hotels are urging the government to provide incentives to revive tourism in Jammu and Kashmir. Airlines have requested waivers on airport fees to offer cheaper tickets, while hotels are offering significant discounts and seeking loan interest waivers.
S&P sees top companies' capex rise to $850 bn over 5 years
Indian companies are set to invest significantly. S&P Global Ratings projects spending of $800-850 billion by 2030. This doubles the previous five-year period's capital expenditure. Investments will likely strengthen credit profiles. Financing will come from operating cash flows. Healthy balance sheets and government policies support this growth. Successful execution will expand operational scale for India Inc.
Modi govt invested Rs 44,859 cr in 3,600+ Northeast projects: Sarbananda Sonowal
Union Minister Sarbananda Sonowal criticized the Congress party's governance, highlighting the Modi government's transformative progress in the Northeast. He emphasized reduced insurgency, infrastructure development, and increased connectivity, positioning the region as a growth engine. Sonowal also underscored advancements in agriculture, healthcare, and tourism, particularly in Meghalaya, driven by substantial central grants and strategic initiatives.
IndiGo to launch direct flights from Mumbai to Almaty, Tashkent, Tbilisi
IndiGo will expand its international routes. The airline will launch direct flights from Mumbai to Almaty, Tashkent, and Tbilisi. Flights to Almaty will begin July 1. Tashkent and Tbilisi flights will start in August. IndiGo will operate multiple weekly flights to each city. This expansion aims to boost tourism and trade between India and Central Asia.
Pakistan hikes defence spending by 20% to $9 bn, still nearly 9x less than India's
Pakistan's FY26 budget reveals a 7% decrease in overall spending, yet defence expenditure surges by 20% to 2.55 trillion rupees after recent clashes with India. In contrast, India's defence budget for the same period is $78.7 billion, a 9.5% increase, signaling heightened military spending in the region following the conflict.
Rural recovery to power financials, NBFCs poised for revival: Punita Kumar Sinha
Punita Kumar Sinha suggests focusing on quality, defensives, and FMCG, anticipating a boost from a better monsoon. She recommends a domestic-focused portfolio including financials, particularly NBFCs benefiting from a recovering rural economy. While IT valuations are reasonable, a catalyst for increased spending remains uncertain due to ongoing trade and immigration concerns.
Himachal Pradesh to open areas near India-China border for tourists
Himachal Pradesh is set to open areas near the India-China border for tourists. The initiative begins with the strategically important Shipki La pass. This high-altitude pass was previously restricted. Now, Indian residents with Aadhaar cards can visit. The Army will regulate the number of tourists. This move is expected to boost tourism in Kinnaur.
Icra projects 6-8 pc growth for hospitality sector, downgrades outlook to 'stable'
Icra forecasts a 6-8% growth for India's hospitality sector. This normalization follows strong demand. Foreign tourist arrivals may be muted initially. Domestic tourism remains a key driver. Infrastructure improvements and MICE events will support growth. Premium hotel occupancy is expected to be 72-74% in FY26. Average room rates are projected to rise. Terror attacks had a temporary, localized impact.
Big 4: Drivers that will power India's economy
India's FY25 GDP growth slowed to 6.5%, a four-year low, despite a strong March quarter. The nation remains the fastest-growing major economy, driven by government spending, rural consumption, and low interest rates. While urban demand is currently weak, tax relief and easing inflation are expected to boost consumer spending and overall economic growth in the coming year.
American tourism takes a hit: NYC feels the pinch as foreign arrivals decline
New York City tourism faces a setback. Foreign tourist arrivals are sharply declining in 2025. Concerns over US immigration policies are a major reason. The city expects a 17% drop, meaning 2 million fewer tourists. This pause impacts tourism spending. Other cities like Orlando and Los Angeles anticipate similar declines. New York launches a campaign to attract international travellers.
How you can negotiate spending on your parents
The argument that parents sacrificed a lot in early years and it is now payback time fails to see that the child is now a parent too. At the same time, the thinking that parents must expect nothing from children is discounted as being too Western in cultural orientation, while also excluding children who genuinely like to spend on their parents.
Even ‘White Lotus’ buzz isn’t reviving Thailand’s tourism slump
Thailand's tourism sector is struggling, with foreign arrivals dropping for the fourth consecutive month in May — down 14% to 2.6 million. This marks the longest decline streak since 2021. The downturn is mainly driven by falling visitor numbers from neighboring Asian countries, especially China, where nearly 1 million fewer tourists have visited compared to the same period
'India Inc well positioned to handle tariff, geopolitical challenges; capex to be measured'
Moody's and Icra Ratings suggest Indian enterprises are well-prepared to navigate tariffs and geopolitical tensions, though investment decisions will be cautious. Government initiatives are expected to bolster domestic demand, offsetting global headwinds. While some sectors face challenges, infrastructure and urban consumption are poised for growth, requiring substantial investments to meet net-zero targets.
India's international visitor spend soars to record highs: WTTC
India's travel and tourism anticipates unprecedented growth. The sector's economic contribution may reach Rs 22 trillion in 2025. It is expected to generate over 48 million jobs. International visitor spending could hit Rs 3.2 trillion. Domestic travel remains strong, propelling the sector forward. The government is urged to simplify e-visa processes.
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