Thomas Cook India Reports Strong 25% Growth in its Student Foreign Exchange Business

Our Forex team announced the second edition of its Study Buddy programme – a focused initiative to catalyse demand and expand its student market-share pan India. The introduction of the Study Buddy programme has been strategically timed to target the critical booking window for student travel.

India is today the second largest source of international students. According to the Reserve Bank of India (RBI), overseas travel spends by Indians rose more than 60% Y-O-Y in May (just before the international academic season), thus highlighting a marked increase in overseas education travel and education spends. Thomas Cook India’s internal data further validates this strong growth potential with an uptake in queries from student travellers of over 25-30% YoY.

Some of the attractive deals included a free holiday at a Sterling Holiday Resort on university fee remittances above Rs. 5 lakhs and a BookMyShow voucher worth Rs. 500/- on purchase of forex cards worth USD 2500 & above- Additionally, assured gifts such as a 3-month free membership on Gaana, a 20% discount on Safari Bags, a flat 30% off on Raymond readymade garments and discounts on Park Avenue’s select products are on offer.

Deepesh Varma, Senior Vice President, Sales & Relationship Management – Foreign Exchange, Thomas Cook India said, “Students travelling overseas for education represent a key demographic, and a strong growth driver for our foreign exchange student business. The Thomas Cook India’s Study Buddy programme hence serves as a valuable offering, designed specifically to handle the entire life cycle of students looking to study abroad and encompasses a range of products and services from university application fees, tuition fees, living expenses, air tickets, insurance, forex cards, and more, with the added benefit of a range of attractive offers.”

He added, “Thomas Cook India has been providing university fee remittance services for over 50 years now. Students can avail fee remittances services across any of our 150+ foreign exchange outlets pan India.”