Thomas Cook India reports strong 25% growth in its Student Foreign Exchange business

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Thomas Cook India

Over a lakh student transactions processed annually

 Introduces a host of offers with its ‘Study Buddy’ programme, valid till September 30, 2019

  The programme is designed to handle the entire life cycle of students studying abroad 

Mumbai, July 23, 2019: Thomas Cook (India) Ltd., India’s leading integrated travel and travel related financial services company, has reported a robust growth of 25% Year-on-Year, from its foreign exchange student business. Given the strong growth potential of the segment, Thomas Cook India has announced the second edition of its Study Buddy programme – a focussed 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 & 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. To leverage and drive the student opportunity, the Company has launched the second edition of its Study Buddy programme, with a host of special student offers. The Study Buddy programme is available across Thomas Cook India’s omni-channel network, including its portal Thomascook.in, its Forex app, its contact centres and over 150+ foreign exchange outlets pan India, and extends over a 3-month period, ending September 30, 2019.

Mr. Deepesh Varma, Senior Vice President, Sales & Relationship Management – Foreign Exchange, Thomas Cook India
Mr. Deepesh Varma, Senior Vice President, Sales & Relationship Management – Foreign Exchange, Thomas Cook India

Thomas Cook India’s Student

Attractive rates on purchase of foreign exchange

· Doorstep delivery

· Zero charges on remittances for university/tuition fees and living expenses

· The convenience and security of Thomas Cook India’s Borderless and One Currency Prepaid cards

· Free ATM withdrawals

· Currency notes across all global currencies and demand drafts

· Special student airfares

· Excess baggage allowance on select airlines

· Overseas travel Insurance

Study Buddy’s attractive deals intend to inspire student foreign exchange transactions with a range of special offers coupled with convenience and ease. Under the Buy More Get More offer, students are guaranteed 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.

Mr. Deepesh Varma, Senior Vice President, Sales & Relationship Management – Foreign Exchange, Thomas Cook India said, “Students travelling overseas for education represents 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.”

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