War, weak rupee push Indian outbound fares up 30-35%; MakeMyTrip bookings dip, APAC gains
West Asia conflict, an 11% YoY rupee slide to 96.96/USD and elevated ATF costs have lifted Europe airfares from Rs 60-70k to ~Rs 1 lakh and package prices 30-35%. MakeMyTrip air ticketing fell 2% QoQ to $58.73M with gross bookings off 6.2%. Travel remittances slid to $1.09B in March from $1.65B in January as travellers pivot to Japan, Vietnam and South Korea.
What happened
West Asia conflict, weak rupee and high ATF costs have pushed Indian outbound travel fares up 30-35%, hitting MakeMyTrip bookings and prompting travellers to
Key facts
- 42% outbound Apr-Aug 2024
- 29.4 lakh travellers in May
- MakeMyTrip air ticketing $58.73M, -2% QoQ
- gross bookings -6.2%
- travel remittances $1.09B March vs $1.65B Jan
- airfares Europe Rs 60-70k to ~Rs 1 lakh
- package prices +30-35%
- rupee -11% YoY, hit 96.96/USD
- 3.27 cr outbound Indians 2025, +5.9%
- inbound -9.4% to 90.2 lakh
- DreamSetGo packages Rs 3.5L-20L, 72% premium
Why this matters
Weakened outbound players and FX-stressed mid-tier OTAs may surface as bolt-on targets, particularly those with APAC corridor strength or hedging capabilities to complement existing Europe-heavy books.