Rise in plastic money over cash after demonetisation: Survey

Posted By: PTI
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Mumbai, Dec 12: Post demonetisation there has been a rise in inclination to use credit or debit cards, as 37.4 per cent Indian travellers choose plastic money over cash for making bookings and during travel, a survey has said.

"One of the key findings is the inclination of Indian travellers to use credit or debit card over cash. About 37.4 per cent travellers choose plastic money over cash for making bookings and while travelling.

Rise in plastic money after note ban

The ban on old Rs 500 and Rs 1,000 notes has further led to a significant 57.9 per cent travellers booking through the desktop and a drastic dip in booking through offline agents," Winter Survey by Yatra.com has revealed.

With demonetisation, the trend of cashless transactions in travel will go up, and this will have significant medium to long-term positives for online travel agents, Yatra.com COO,(B2C), Sharat Dhall said.

Winter Survey is done by Yatra.com annually from data taken from the actual bookings done on the portal. Another key observation was that people are preferring to choose budget accommodation over luxury accommodation, the survey said. Over 38 per cent people opted for lodging options under Rs 4,000, while only 35 per cent chose luxury accommodation, it added.

It said the advance booking continues with most people looking at finalising their plans 15 days to one month in advance. Further, it revealed, demonetisation does not seem to have impacted the spending capacity of travellers, with over 60 per cent willing to spend between Rs 10,000 to Rs 25,000.

The survey also found that a substantial drop in international travel with over 74 per cent respondents willing to travel to domestic destinations. While the deserts and Goa have been highlighted as top choices amongst domestic destinations, Thailand and other islands top the list of most favoured international destinations.

"Our winter survey shows that mobile bookings and the preference for budget accommodation are two areas where we are seeing a tremendous surge. Contrary to the usual preference of international destinations, we have seen a number of travellers opting for domestic destinations this winter vacation," Dhall said.

Contrary to last year's winter survey, this year the findings reveal that spouses/partners was the more obvious choice as travel companions followed by family, friends and solo travel.

PTI 

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