TravelBiz Monitor: India travel news, travel trends, tourism

India earns INR 5.54 lakh crore in forex from tourism: Govt

By TBM Staff - Mumbai Monday, 7 August 2023, 3:30 PM 755

India has earned INR 5,54,657 crore in foreign exchange from tourism between 2019 and May this year, shows the latest government data. Overall, 2019 saw a total earning of INR 2,16,467 crore, which is the highest in these five years but the very next year this dropped to its lowest at INR 50,136 crore and, […]Continue Reading

Ministry Top Stories

India’s forex reserves drop by USD 3bn for last week of July

By TBM Staff - Mumbai Monday, 7 August 2023, 12:30 PM 605

India’s foreign exchange (forex) reserves dropped by USD 3.165 billion to USD 603.87 billion for the week ended July 28, the Reserve Bank of India (RBI) has said. This is the second consecutive weekly drop in the reserves after the USD 1.987 billion decline to USD 607.035 billion in the previous reporting week. For the […]Continue Reading

Outbound Top Stories

Sri Lanka welcomes 7.5 lakh tourists earning USD 800mn forex this year

By TBM Staff - Mumbai Thursday, 3 August 2023, 11:30 AM 1259

Sri Lanka received over 750,000 tourists and earned foreign exchange revenue amounting to USD 800 million during the first seven months of this year, according to a statement from the President’s Media Division (PMD).Quoting State Minister of Tourism Diana Gamage, the PMD said this accomplishment played a crucial role in bolstering Sri Lanka’s foreign reserves, Continue Reading

Indians spent nearly USD 10bn on foreign travel during April-December: RBI

By TBM Staff - Mumbai Tuesday, 21 February 2023, 12:45 PM 449

Indians spent around USD 10 billion on overseas travel between April and December, a report by Mayur Shetty in the Times of India (TOI) said, citing data from the Reserve Bank of India (RBI). It is the highest ever such figure, even more than the spending in any financial year. Before this, the highest spend […]Continue Reading

FAITH proposes ‘PM – HINES’ market based Incentive scheme for industry

By TBM Staff - Mumbai Friday, 16 September 2022, 4:30 PM 925

FAITH, the policy federation of all the 10 national associations representing the tourism, travel and hospitality industry of has proposed ‘PM – HINES’ or ‘Prime Minister – Holiday in India Export Support’ for the upcoming foreign trade policy to fast track tourism, travel and hospitality exports from India. PM – HINES is a combination of […]Continue Reading

OTAs Top Stories

EaseMyTrip aims to foray into forex biz; will apply for Full-Fledged Money Changer License from RBI

By TBM Staff - Mumbai Monday, 2 May 2022, 1:30 PM 1198

EaseMyTrip aims to launch a currency exchange service, and for this will apply for a Full-Fledged Money Changer License (FFMC) from the Reserve Bank of India (RBI). It will enable customers to easily convert their currencies to local tenders. Acquiring this license will enable EaseMyTrip to offer to extend its portfolio and offer one of […]Continue Reading

India earns INR 5.54 lakh crore in forex from tourism: Govt

India’s forex reserves drop by USD 3bn for last week of July

Sri Lanka welcomes 7.5 lakh tourists earning USD 800mn forex this year

Indians spent nearly USD 10bn on foreign travel during April-December: RBI

FAITH proposes ‘PM – HINES’ market based Incentive scheme for industry

EaseMyTrip aims to foray into forex biz; will apply for Full-Fledged Money Changer License from RBI

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