If you are planning vacations within a year or two, you can start an SIP in Liquid Funds. Goel says one of his clients accumulated money and got good returns that he used for his Europe trip before the pandemic. Redeem only the amount that you need for the vacation. Also, investors get redemption proceeds within 2-5 working days. Once the investor submits a redemption application, fund houses allow online redemption. One can redeem a unit of a mutual fund on any business day. Once you reach your goal- ₹2.5 lakh- you can redeem the amount and enjoy your vacation.Īlways keep adding and do not stop your investments, say financial advisors.
Since it’s a long-term investment, one need not worry about stock market fluctuations in the short-term.” Goel says, “Keep monitoring your scheme every year to find out whether you are on the right track. If you calculate 12% growth in an equity scheme, you can achieve your target. These will help in creating wealth to fulfil your requirement,” Goel says.įor instance, if a trip to Europe costs ₹2.5 lakh and if you are planning in 2030, start investing a small amount in Systematic Investment Plan (SIP).
Within the equity space, you can also choose large-cap funds. Invest in diversified equity funds such as multi-cap or flexi-cap funds, as they will have a moderate risk. “If you are planning to travel abroad, start with a small investment every month. And, at the same time many clients are also investing keeping long-term vacation in mind.Īshish Goel, Founder and CEO of Vista Wealth Consultants says that people have to do long-term planning and for this, they have to fix a goal. “I have seen my friends travelling after redeeming their investment and some have invested in a separate mutual fund scheme with an aim to travel in 5 or 10 years,” she adds.įinancial experts say that some of their clients are planning a short vacation and are redeeming investments. So, for a couple of years now, we have been investing in mutual funds,” says Saranya, adding that she got the idea from one of her seniors at work. “We do not want to apply for a travel loan and at the same time, we do not want to spend our savings on the trip. IT employees Saranya Balachandran and her cousin Abinaya Raghuraman have been planning their Europe vacation for quite some time now. Though tourism is one of the sectors that hit hard due to the pandemic, people are hoping that tourism will recover in 2022. Also, the number of Indian Nationals' Departures from India during 2019 was 26.91 million as compared to 26.29 million in 2018, registering a growth rate of 2.4%.ĭelhi and Mumbai airports accounted for about 41.7% of the total Indian Nationals' Departures and the top 10 source countries in 2019 were UAE followed by Saudi Arabia, USA, Thailand, Singapore, Qatar, Kuwait, Oman, UK and Malaysia.įorbes points out that in the first 10 months of 2020 alone, the pandemic costs the tourism industry $935 billion in revenue worldwide. But what if they plan in advance and invest the money instead of just saving? Financial advisors say one of the best choices is to invest in mutual funds.Īccording to the Ministry of Tourism, the number of domestic tourist visits in India during 20 million as compared to 1853 million in 2018, with a growth rate of 25.3%. Since savings alone is not enough, they even opt for a loan to travel to their favourite country. Many people save money for years to go on a long vacation. Everyone will have a bucket list of their dream destinations.