Greece to become an attractive tourist destination in the short-term

Europeans maybe feeling the pangs of anxiety over the looming Greece crisis, but the country could become an attractive destination for Indian tourists in the current scenario, Deep Kalra, founder and CEO of travel portal MakeMyTrip has said.

The potential default by Greece could lead to currency depreciation which could translate into cheaper travel expenses in the local market, including lower hotel accommodation rates, for Indian tourists. However, this benefit is likely to accrue only in the short term.

"If the crisis persists over a longer period of time, concerns over safety, in the backdrop of rising unemployment levels and financial instability, could start creeping in," said Kalra, on the sidelines of a conference to announce his company's tie-up with public sector behemoth State Bank of India.

At the moment, Indian tourists travelling to neighbouring Turkey are far higher than those travelling to Greece, primarily due to existence of direct flight services. "Our exposure to Greece at the moment is not very significant," he added. All this could change, at least in the short-term, if Greece is seen as a cheaper destination.

While the detailed contours of offerings under the partnership are yet to be worked out, SBI could offer travel loans to MakeMyTrip customers, in addition to customised travel products likef orex cards and other co-branded cards.

The PSU major has, in the recent weeks, inked several tie-ups with e-commerce players, in an attempt to expand its presence in the digital payments space. Now, the bank is set to get a separate team to handle this business. "We are planning to create a separate digital vertical in the bank which can focus on such activities," said SBI chairperson Arundhati Bhattacharya.