Indians on the Go: India’s Travel Spending Booms Despite Tax Hurdles
Indians on the Go: Travel Spends Soar Despite New Tax Hurdle
Ever feel like reliving that carefree summer vacation feeling? That’s exactly what’s happening in India right now, but year-round! Travel spending is booming, fueled by a bigger allowance for overseas expenses. But here’s the twist: even with a new travel tax, Indians are globetrotting more than ever.
Travel spending jumped a whopping 24.5%, despite the TCS tax acting like a mini security check for outgoing money. So, are Indians ignoring the tax? Not quite. While the overall trend is positive, there are signs of a slight slowdown after the tax came into effect.
But wanderlust is winning for now! Pent-up demand from the pandemic, easier travel options, and rising incomes are making those travel dreams a reality. Buckle up, because the world is getting smaller for adventurous Indians!
