The meltdown in global financial markets has had adverse effects on India’s wellness and luxury tourism sector. Travel agents and hotels have received several cancellations and reconsiderations with respect to the inbound markets’ travel plans. There seems to be (about) a 15 per cent decline in the market. Primary cancellations are from US and UK clients.
“Wellness tourism, which includes beautification, cosmetic surgery and dental surgery, seems to be the segment affected. Currently, about 10 to 15 per cent of the clientele are in a dilemma about proceeding with their travel plans. We have also had a few cancellations from them,” states Iqbal Mulla, Chairman, MIM Group. On the other hand, Vaishnavi Watwe, Managing Director, Travel Club (which recently launched a website for medical tourism called medicaltourpackages.com) states, “We have been experiencing a slack period for the last three months. There has been a 75 per cent reduction (or cancellation) in travel as compared to volumes in the corresponding period last year.” |