Goa might be under fire for its soaring costs, but Wisdom Hatch founder Akshat Shrivastava argues that the problem runs deeper across India. In a post on X, Shrivastava pointed out that many Indian holiday destinations have become alarmingly expensive.
“Go to Manali, Shimla — it’s more expensive than Georgia. Go to Mumbai, it’s more expensive than Dubai. Most major holiday destinations in India are super expensive. Why? Because our real estate prices are crazy. And it is unlikely to go down,” Shrivastava wrote.
A user responding to his post summed up the ripple effect of skyrocketing property prices, pointing out tea at the airport for ₹400, pizza in a mall for ₹1,000, parking at the airport for ₹150 per hour, and a 3 BHK priced at ₹100 crores, adding, “Everyone needs to recover their real estate investments or rentals.”
The high cost of real estate has had a cascading effect on India’s tourism and hospitality sectors. Tourist accommodations, from budget guesthouses to luxury resorts, have seen prices climb as property owners seek to recover their investments. Restaurants, shops, and entertainment venues in tourist hotspots also face higher operating costs, driving up consumer prices.
Data highlights the stark contrast between property prices in tourist and non-tourist areas. On average, properties in tourist destinations cost ₹21,600 per square foot compared to ₹8,500 in non-tourist regions — a difference of over 150%. In areas like Ayodhya, property prices have skyrocketed by ten times in just a few years, while Bengaluru and Hyderabad have witnessed nearly 90% appreciation in certain localities since 2019.
According to Colliers, India’s real estate sector is poised for exponential growth, projected to reach $1 trillion by 2030. Factors like infrastructure development, changing work preferences, and rising tourism demand are driving this expansion. But for travelers and locals alike, these soaring prices are reshaping the economics of travel and daily life.
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