"We have used the fall in rupee to leverage demand to destinations such as Australia and South Africa," says Madhavan Menon, managing director of travel company Thomas Cook. "Travellers are opting for breaks where price is controllable," says Vishal Suri, CEO, tour operating at Kuoni India.

"There has been considerable demand for travel to destinations like Australia and South Africa as travellers are planning for short vacations to destinations at more affordable packages in long haul," he said.

Rajesh Magow, co-founder and chief executive of India's largest travel portal, says that these packages are much cheaper than the ones offered in the same period last year, adding the rates will decline further.

A month ago, a week-long holiday to Australia on any travel website could cost upwards of Rs 2.50 lakh, inclusive of airfare, while the same package to Europe would come for below Rs 2 lakh as per an ET report.

Airlines aren't too far off in announcing throwaway deals for foreign destinations. For instance, Singapore Airlines with its partner Virgin Australia recently offered a 50% off on tickets to Australia. However, the biggest push in terms of travel to Australia has come from national carrier Air India, which plans to start flights on its new Boeing Dreamliner to Sydney and Melbourne this month end.

Air India will be the only carrier offering direct flights to the country and plans to offer all inclusive airfare as low as Rs 48,000 for its maiden flights. Over the last six months, the rupee has been clobbered by the US dollar, depreciating 16% to Rs 64 per dollar, impacting investor sentiment, imports, government spending and the overall health of the economy.