Ever felt the urge to book a holiday at a ‘reel’ location after binge-watching a show?
Well, the internet now has a name for it ― the White Lotus effect.
It seems viewers are booking real vacations after being smitten by the breathtaking Four Seasons Resort locations on their screens while bingeing on White Lotus ever since the lockdown.
And apparently, web traffic to Four Seasons, Maui (an island in Hawaii) where the show was shot increased 425% year on year during season one of the show alone.
In fact, an American Express travel report says that 70% of Gen-Zs and Millennials say they’ve caught the travel bug after seeing a pretty location on screen or even booked a destination after binge-watching.
Is there an Indian movie or TV show that inspired your holiday — maybe the fabulous beach villa in Goa from Gehraiyaan? ;)
Here’s a soundtrack to put you in the mood 🎵
Udd Chala by Taba Chake
You can thank our reader Sagar Dhuri for this lovely, peppy track!
Let’s dive in now?
A couple of things caught our eye this week 👀
Why is India flying high?
Good times are back for airlines that were grounded during the pandemic slowdown. And the numbers speak for themselves.
With an average of 4,31,000 passengers flying daily in February, the number has even beaten the pre-pandemic levels says a Mint report. And just so you get a clear picture ― Just prior to the March 2020 lockdown this average stood at 4,25,000.
But why are people flying so much?
See, people got sick of staying indoors during the lockdown. So when things opened up they started revenge travelling. Folks who had a job took microvacations or staycations more often, maybe during a long weekend. Workcations also became a trend.
This habit stuck. It made them realise the beauty of exploring India rather than spending on holidays abroad. This way vacations get cheaper. And they get to go on multiple vacations on a single international trip budget. They probably also started appreciating the beauty of local experiences.
And now domestic airlines that have limited capacity are constantly increasing prices due to the increased demand and the absence of airfare ceilings. This demand is only going to explode further as foreign tourists have also slowly started choosing India as a holiday destination.
This also directly improves hotel and homestay footfalls, while pumping up their revenue. In fact, some reports say that the average daily rate (ADR) — or the room tariff for a night has crossed ₹6,000 for the first time in 10 years.
It’s a win-win for everyone. Looks like India’s tourism industry doesn’t need something like the White Lotus effect after all.
Ashneer Grover is back on the field
Indian fantasy cricket has a new buzzword ― CrickPe. Ashneer Grover, of BharatPe and SharkTank fame, launched a new cricket gaming app along with co-founders Madhuri Jain Grover and Aseem Ghavri.
The allure is simple. Apps like Dream11 and My11Circle have already led to building a 90 million userbase for fantasy sports in India as per a KPMG study. And the gaming sector is supposed to be a nearly $9 billion industry by 2027. So, with the IPL around the corner, the timing for CrickPe’s launch is pitch perfect.
But Ashneer Grover is not the only reason why it’s the talk of the town.
See, fantasy cricket apps work on a simple revenue-sharing model. They host competitions and collect entry or participation fees from users. The app takes a small cut from the total amount collected during each game. And the users who win walk away with the rest of it. So as long as there are sufficient users, both the app and the winning users make money. Apps also earn revenues from ads and user data.
But according to what CrickPe says in its app description, it’s the only app in the world where not just the app and the users, but also real cricketers playing on field make money.
Okay, here’s what Moneycontrol says:
“…ability for users to send cash rewards to their favourite cricketers, in what appears to be inspired by people tipping their favourite creators across different creator platforms. People can currently send cash rewards ranging from Rs 100 — Rs 100,000 per cricketer per financial year.”
Yup, you can apparently send ₹100 to Virat Kohli. If he accepts, CrickPe will take a fee. And if he denies it, CrickPe will return the money to your account.
We’ll definitely be watching to see how this plays out!
Folks, it’s Women’s History Month and we’re celebrating some of India’s top women leaders and personalities. Keep an eye out on our social media feed for more such infographics. In the meantime, check out our viral post on the indomitable Ms Sudha Murty.
Money tips 💰
Beware of this money trap
A moment ago we just told you about the impact of fantasy sports and how CrickPe believes that it could be different.
But that also got us thinking. Fantasy sports is a huge industry and users play for real money. It’s fun, a great pass time, but can also get addictive. And that’s why these apps often pop up warnings on your screen telling you to play responsibly as it could get addictive and involves financial risk.
You see, in games like these the participation fee is often as much as the price of a large packet of wafers. And since the outgo is so tiny it doesn’t really pinch. You’re always curious to pay more to play with hopes of victory.
According to a study 98% of the 20% who ‘pay-to-play’, have either won or lost less than ₹10,000 in their lifetime. So, the chances of winning are grim. Also, most users also feel that there should be a ₹50–1,000 cap to the losses they make per game.
See, it could be hard to understand how quickly these payments or losses could add up and hurt your wallet. There’s a good chance that you could be trapped in a loss cycle and may have to borrow small amounts from friends and family. Sounds absurd, we know.
But fantasy sports resembles gambling in many ways although the debate about it being a game of skill or chance still continues. Besides, since it isn’t regulated you can’t really set off your losses under any other incomes when you file your income tax returns.
So, it’s always best to consciously know your limit and self regulate your actions because this could be a money trap that can be hard to come out of.
Readers Recommend 🗒️
Today we have an interesting recommendation from an interesting reader. Well, the book is slightly different from others as its a research by the authors who try to understand American millionaires and where they put their money. They surprisingly find that millionaires are disproportionately clustered in middle-class neighbourhoods rather than the more affluent ones. The book also explains why white-collared professionals are more likely to spend on luxury goods, neglecting the saving habit.
While that is readworthy, here’s the interesting bit. Our reader hasn’t left a name and goes by the email prefix ‘waterfall’. So we’ll just thank Mr. or Ms. Waterfall for this recommendation.
Finshots Weekly Quiz 🧩
It’s time to announce the winner of last Sunday’s Weekly Quiz. And the winner is… 🥁drumroll… Mayuresh Yadav! Congratulations. We’ll get in touch with you soon to send across the merch we promised.
To the rest of you who answered everything right, don’t be sad. We’re giving you another chance. Click this link to access the Google form and take the quiz. And tune in next week to see if you won.
With this, it’s wrap up time.
Until then, don’t forget to tell us what you thought of today’s newsletter. And send us your book, music, business movies, documentaries or podcast recommendations. We’ll feature them in the newsletter! Just hit reply to this email (or if you’re reading this on the web, drop us a message: email@example.com).