International trip on the cards? These tips will make sure your travel money goes a long way, even when the rupee is dropping.
International travels can be an expensive endeavour if approached without any planning. Falling rupee against dollar further means a costlier holiday abroad. With business and leisure trips bouncing back post the pandemic and summer holidays approaching, outbound tourism from India is set to witness swelling traffic. Since the domestic currency recently dropped to an all-time low (78.25 as of today; 3.8 per cent in 2022), here’s a guide on how you can plan your foreign trip in a way that it makes your rupee go further!
Avoid carrying cash
While travelling abroad, taking lots of cash along is the most expensive way. Cash is probably the last option along with credit cards with high markup charges. Instead, invest in a prepaid forex card or get yourself a zero-markup credit card — there are banks that charge as low as 1-1.5 per cent markup and give around 3 per cent back as reward points! If you wish to carry cash, bring just enough to say, rent a taxi to your destination and to pay for a few meals. Also, keep in mind that the exchange rates are always higher on the airports and international resorts.
Travel to countries where the rupee is stronger
If you don’t wish to burn a hole in your pocket, leave expensive destinations for some other time and plan a trip to one of the countries where the rupee is stronger than the local currency. Iceland, South Korea, Columbia, Paraguay, Vietnam, Indonesia, and Sri Lanka are some of such countries. But remember, lower currency value does not always mean inexpensive trips. For instance, South Korea has a higher cost of living so tread carefully.
Make a budget and stick to it
This might sound a tad boring, but works its charm each time. Always, always make travel budget and stick to the same to make your rupee for further. Daily or weekly spending budgets are a huge way of seeing if you’re on track to avoid overspending during your travels. You can also keep a track of your spending with an app like Trail Wallet, PocketGuard, etc.
Plan your trip in the off season
A little planning can go a long way. I know the temptation to see a destination when it has a ‘high season’ going on is strong, but planning a trip in the off season has its own perks — think lesser crowds, no rush, less cliché, and of course, cheaper booking rates for flights, hotels, restaurants, and almost everything! Even many attractions jack up their prices during high season, but when there aren’t too many tourists around, you may be able to save quite a bit.
Book hotels offering great discounts internationally
Many hospitality brands have loyalty plans in place where you can pay much lesser by just staying for a longer period. Additionally, always look for discounted rates on their official websites before you book any hotels. You can even book an Airbnb or a smaller boutique hotel that doesn’t cost as much but is equally great in experience.
Find things to do for free when you travel
Unique, interesting experiences don’t always have to be expensive. All over the world, it is possible to find good things to do for free. It is a great way to beat inflation or rising costs, and still enjoy a destination. While you don’t have to skip all the incredible wonders of the world, but do seek out ways to enjoy nature, local culture, art, and architecture that don’t cost you anything at all. For example, you don’t have to pay to go to the Grand Canyon, walk along the Bosporus, or visit a place like the Mexican village of Izamal, where all attractions are free to enter!
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