While the petroleum prices in India are now loitering at an all-time high, India’s tourism industry is expecting its adverse effects on it! After a few successive increases, in the national capital, petrol price stands at 88.44 per liter while diesel is priced at 78.74 per liter.
It’s not only visible at the capital as all across the country, but the petrol and diesel prices also increased by the rate of 20 to 30 paisa and 30 to 40 paisa respectively being based upon the local taxes imposed on these two imperative petroleum products.
The Price Rise and Its Probable Impact on Indian Tourism Industry
Like every other industry in the country, the Indian tourism industry is also expected to be affected by this price hike. This increase in petroleum prices is expected to affect the sector in the following ways.
- The fair of travel buses and cars will be consequently increased raising the budget required for conducting tours. Hence, travel agencies will have to charge more from their customers.
- As the transportation of goods depends on diesel-powered vehicles, along with the rising price of it, the cost of essential goods will be increased.
- As travelers will be strained to either increase their budget or complete their tours within the limited budget, many places would be unexplored, affecting the traveling business and long-term grazing effects on the Indian Economy.
Besides, the industry would also be affected circuitously as every sector is already breathing through this thorny inflation. The Travel and Tourism Industry is one of the largest industries the county has, propelling the economy to thrive more as it’s expected to touch 500 billion U.S dollars within 2029. However, this petroleum price hike has placed impediments on that path. The industry of endowing travel lovers with scenic holiday destinations is already bracing up for its effects to come.
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