EaseMyTrip, Yatra, Ixigo slide as Modi's 'avoid foreign trips' appeal dents outbound bookings
Indian online travel stocks took a hit after PM Modi urged citizens to skip foreign holidays. Outbound summer inquiries are already down 10-15% across agents, threatening the peak April-June window. Operators warn of a forced pivot to lower-margin domestic tourism, compounded by Gulf tensions and crude above $100/bbl pressuring airfares.
PM Modi's appeal to avoid foreign travel hit Indian travel stocks EaseMyTrip, Yatra and Ixigo, with outbound summer inquiries already down 10-15%. Agents fear shift to low-margin domestic tourism amid Gulf crisis and rising airfares.