EaseMyTrip, Yatra, Ixigo slide as Modi's 'avoid foreign trips' appeal dents outbound bookings
Indian online travel stocks took a hit after PM Modi urged citizens to skip foreign holidays. Outbound summer inquiries are already down 10-15% across agents, threatening the peak April-June window. Operators warn of a forced pivot to lower-margin domestic tourism, compounded by Gulf tensions and crude above $100/bbl pressuring airfares.
What happened
PM Modi's appeal to avoid foreign travel hit Indian travel stocks EaseMyTrip, Yatra and Ixigo, with outbound summer inquiries already down 10-15%. Agents fear
Key facts
- 10-15% drop in summer inquiries
- $231.6 billion tourism sector
- $18.82B to $55.39B outbound by 2034
- 32.7 million outbound departures 2025
- crude above $100/bbl
Why this matters
Accelerate domestic supply-side M&A — homestays, regional DMCs, tier-2 hotel inventory — while valuations of outbound-heavy targets reset downward.