MacroRisk
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CIOI183.5+0.0%DPRI126.2+26.7%ITVI124.3+13.3%RLDI116.2+1.9%STEI81.6-6.6%
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ITVIservicesLive120 publications

Inbound Tourism Volume Index

Measured in thousand foreign tourist arrivals.

Latest fixing
124.3 +13.3%
Chain verified ✓Two engines agreed
200 · corridor ceiling30 · corridor floor

Monthly fixing · 30-day publication lag · 30–200 corridor · rounding applied exactly once, at publication.

Methodology

Monthly Foreign Tourist Arrivals, indexed against the trailing five-year mean for the same calendar month.

Source data

Ministry of Tourism

Monthly fixing · 30-day publication lag

Contract machinery · fixed
Multiplier₹1,50,000 / point
Tick0.1 = ₹15,000
Minimum clip20 lots
Settlementbilateral, at fixing
Full-resolution history
151.4052.90
120 published values · one decimal place · settlement on first publication
Median level
100.6
Range
52.9 – 151.4
In 30–200 corridor
100%
Keeps one lot institutional in size
Gross notional, 1 lot
₹1.86 crore
At the latest fixing

Publication chain

Verified. 120 publications form an unbroken hash chain, and every signature checks out.
SeqWindowFixingLevelObsDual checkRecord hash
1202026-08-01 → 2026-08-312026-09-30124.31agreed602d5d86b995…
1192026-07-01 → 2026-07-312026-08-30109.71agreed7b646fdd0b81…
1182026-06-01 → 2026-06-302026-07-30107.71agreed2e0823915d14…
1172026-05-01 → 2026-05-312026-06-3086.41agreed99773cd3cea0…
1162026-04-01 → 2026-04-302026-05-30145.71agreed037c3212fcde…
1152026-03-01 → 2026-03-312026-04-30135.41agreede12af3044acd…
1142026-02-01 → 2026-02-282026-03-30121.71agreed49a381519e7b…
1132026-01-01 → 2026-01-312026-03-02117.41agreed5bc8f9702bc2…
1122025-12-01 → 2025-12-312026-01-30105.21agreed122cba162fc6…
1112025-11-01 → 2025-11-302025-12-30103.31agreed0bc3a95b4314…
1102025-10-01 → 2025-10-312025-11-30109.11agreedbc564805cbb9…
1092025-09-01 → 2025-09-302025-10-3096.21agreed75e949530748…

Contracts referencing this index

ITVI-CAPcapped call
₹1,50,000 per point · 0.1 tick · min 20 lots
Payoff scenario →
ITVI-LINlinear
₹1,50,000 per point · 0.1 tick · min 20 lots
Payoff scenario →

Methodology, version 1.0

Inbound Tourism Volume Index

Monthly Foreign Tourist Arrivals, indexed against the trailing five-year mean for the same calendar month.

Source. Ministry of Tourism — Monthly Foreign Tourist Arrivals, compiled from Bureau of Immigration data.

Scaling. based to 100 = trailing 5-year mean for the same calendar month.

Who hedges this. Hotel chains and resort operators with fixed cost bases; tour operators; heritage-site and airport concessionaires whose revenue is footfall-linked.

Methodology note. A hotel group can hedge its debt and its energy costs but not the thing that actually determines its year. Tourism collapses are frequent, severe, and driven by causes nobody can hedge today.

Revision policy. Settlement uses the index as published on the fixing date. Subsequent revisions by the source are recorded in the append-only archive and reflected in future publications, but never re-settle a contract that has already fixed.