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Thomas Cook teams up with Muthoot Forex for wider payments reach
Travel company Thomas Cook on Friday announced a strategic partnership with Muthoot Forex — the foreign exchange division of the Muthoot Group — to expand the reach of its Borderless Travel and Study Buddy cards.
Through this collaboration, both prepaid forex cards will now be available across Muthoot's extensive network of over 7,000 branches, including 43 full-fledged forex branches across India's metros, mini-metros, and tier II to tier IV source markets, the travel company said in a release.
'Our alliance with The Muthoot Group leverages our powerful synergies — combining our expertise in travel and foreign exchange with Muthoot's extensive network across India's tier I to IV source markets,' said Deepesh Varma, Executive Vice President, Foreign Exchange, Thomas Cook India. 'Through this partnership, we aim to bring our Borderless Travel and Study Buddy cards closer to consumers across India's metros and regional markets, making international travel and study abroad even more convenient and accessible.'
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Business Standard
5 days ago
- Business Standard
Thomas Cook teams up with Muthoot Forex for wider payments reach
Travel company Thomas Cook on Friday announced a strategic partnership with Muthoot Forex — the foreign exchange division of the Muthoot Group — to expand the reach of its Borderless Travel and Study Buddy cards. Through this collaboration, both prepaid forex cards will now be available across Muthoot's extensive network of over 7,000 branches, including 43 full-fledged forex branches across India's metros, mini-metros, and tier II to tier IV source markets, the travel company said in a release. 'Our alliance with The Muthoot Group leverages our powerful synergies — combining our expertise in travel and foreign exchange with Muthoot's extensive network across India's tier I to IV source markets,' said Deepesh Varma, Executive Vice President, Foreign Exchange, Thomas Cook India. 'Through this partnership, we aim to bring our Borderless Travel and Study Buddy cards closer to consumers across India's metros and regional markets, making international travel and study abroad even more convenient and accessible.'
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Business Standard
28-05-2025
- Business Standard
Cruises, self drive: 85% Indians plan more holidays, 84% to spend big
Indians are packing their bags—and their wallets—with renewed purpose. As per the India Holiday Report 2025 by Thomas Cook and SOTC, travel is no longer a luxury or a once-a-year indulgence. It's becoming a lifestyle priority, with 85% of Indians planning more frequent and longer holidays this year, and 84% ready to boost their travel budgets by up to 50%. Cruises, self-drives, and scenic trains take center stage Forget whirlwind sightseeing tours—today's Indian traveller prefers immersive journeys. Unique travel formats like cruise holidays (45%), self-drive road trips (35%), and scenic train journeys (20%) have gained serious traction. From European river cruises to panoramic rail rides in Switzerland, the shift reflects a desire for slower, more meaningful travel. 'Travellers are prioritizing depth, discovery and emotion,' sais Rajeev Kale, President & Country Head – Holidays, MICE, Visa, Thomas Cook (India) Ltd. 'It's about curated comfort-first experiences rather than ticking off destinations.' Digital Meets Human: Phygital Booking is the New Normal Travel planning has gone hybrid. A growing number of Indians (58%) now blend online research with offline bookings through travel agents or call centers. While 68% book online, 59% still prefer talking to an expert, indicating the enduring trust in human touch and personalized advice. This phygital model—a mix of digital and physical channels—is emerging as a strong conversion driver, catering to both tech-savvy millennials and value-seeking families. Travel Styles: One Size Doesn't Fit All When it comes to how Indians prefer to travel: 35% want partially guided tours with flexibility. 33% choose fully packaged, guided tours. 32% plan their holidays entirely on their own. Here are the key findings of the report: 1. Key Holiday Drivers: Influence of Social media, OTT platforms and Movies: 60% respondents indicated that social media, OTT platforms and movies are increasingly shaping their travel decisions Simplified visa processes and easy access: 44% respondents are more likely to visit countries offering simplified visa processes like e-visa or visa-on-arrival options such as Thailand, Malaysia, UAE, Sri Lanka; while countries that issue long-term visas are also seeing uptick like the Australia, Japan, USA Enhanced connectivity: 43% Introduction of new routes and direct flights are significantly improving accessibility - fuelling travel demand not just from metros, but significantly from India's rapidly growing Regional Tier 1 & 2 markets. Indian consumers continue to remain value-seekers: 39% prefer to actively seek promotions. At the same time, there is a clear shift towards trusted travel brands for premium holiday experiences, reflecting a focus on reliability 2. Increased frequency of Holidays and Longer Stays: Smart planning fuels mini-cations: 47% of respondents intend to leverage long weekends/ public holidays for short getaways. Equally, Strong shift towards longer trips with 54% respondents preferring longer holidays by extending for an additional 5-10 days, to create holidays of an average of 8-15 days. 3. Strong Holiday Spend Intent: Approximately 84% of respondents plan to increase their travel spends by 20-50% in 2025, with over 18% intending to boost budgets by a significant 50%. This mirrors a broader trend, where travellers are allocating more budgets to gastronomy, experiences and shopping - including premium outlets like McArthurGlen and Bicester Village. Evolving Travel Companion Preferences: Travelling together remains the preferred mode, with 90% opting for company. Multigenerational families (65%) lead the chart, followed by couples (60%) and a rising segment—'frolleagues' (colleagues who double as friends) at 28%; Solo at 10% Family bonding trips on the rise: There has been an increase in travel experiences focused on family connections, such as mother-daughter trips and sibling/cousin holidays Growing subsets, including solo female travellers, also in older age groups and empty nesters, reflecting diverse companion preferences across demographics 4. Experiential Travel Takes Centre Stage: Close to 75% respondents indicating strong interest for experience-led holidays. Over 45% of respondents are prioritizing phenomenon-based travel (like Northern Lights – Norway, Murmansk; Japan-S Korea's Cherry blossoms; Midnight sun –Iceland, Russia) - a pivot towards bucket list experiences Uptick in Safaris, self-drives, outdoor adventures (32%) Gastronomy (26%) reflecting - evolving palates and desire to experiment - with France, Spain, Australia, Thailand, Malaysia, Japan, South Korea Event tourism—global music concerts, sporting events and festivals are also on the rise, aligning with a focus on entertainment-driven travel experiences (22%). Australia, Abu Dhabi, Thailand Spa-Wellness (19%) Relaxation, rejuvenation seeing demand – especially in destinations like Thailand, Bali, Kerala Luxury Holidays on the Rise: Over 36% respondents are opting for premium experiences like transportation via super cars/bikes, luxury cruise holidays (Scandinavia, Mediterranean, USA), private island dining in Australia, upscale stays in boutique hotels, French chateaux/Swiss chalets, heritage properties in India, glacier landings in New Zealand. Destination Preferences: Internationally, Europe continues to top the list (50%) led by Switzerland, France, Austria, Germany; Eastern Europe's Czech Republic, Hungary, Croatia emerging well. Short-hauls like Southeast Asia follows with favourites like Thailand, Malaysia, Indonesia, Singapore (46%); also Dubai, Abu Dhabi, Oman, Ras Al-Khaimah (37%); Japan & South Korea (35%) and Australia-New Zealand (26%); Island locales – Mauritius, Maldives, Bali, Sri Lanka (22%); South Africa & Kenya (12%) Central Asia's Uzbekistan, Kyrgyzstan, Kazakhstan (32%) signal growing interest for unique short hauls with easy access and affordability Morocco, Iceland, Greenland (8%) emerging on the radar For travel in India and subcontinent: Kashmir, Himachal Pradesh, Uttarakhand (55%) remain top favourites; North East (25%); Bhutan (32%); Rajasthan & Kerala (21%). Island/beach escapes like Andaman &; Lakshadweep (3%); are also gaining strong momentum; Goa (13%)
Time of India
28-05-2025
- Time of India
Event-led, experiential travel leads Indians' holiday preferences: Thomas Cook-SOTC report
The India Holiday Report 2025 reveals a surge in experiential travel among Indian tourists, fueled by increased disposable incomes and aspirational values. Travellers are prioritizing unique experiences like polar cruises and gastronomy tours, with a willingness to spend more and take longer holidays. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Experiential and event-led travel such as polar, icebreaker cruises, music concerts, global sporting events, wildlife safaris, gastronomy and vineyard trails, stargazing camps and phenomenon travel are at the forefront of Indian travellers' preferences, as per the India Holiday Report 2025, released Wednesday by Thomas Cook (India) Limited and group company SOTC Travel The report, based on a survey conducted across digital platforms covering over 2500 respondents (a combination of past Thomas Cook India and SOTC Travel customers, as well as non-customers) over a duration of one month, reflects a significant shift driven by rising disposable incomes and the growing aspirational value of travel, including experiential 85% of Indians planning to increase their frequency of holidays and a significant number intending to boost budgets by up to 50%—the report paints a picture of a booming travel per the report, travellers are showing a clear inclination towards longer holidays – both domestic and international. Today's new-age Indian traveller is also keen on spiritual travel , hidden-gems and distinctive accommodation like igloos, treehouses, chalets-chateaus.60% respondents indicated that social media, OTT platforms and movies are increasingly shaping their travel decisions, and 44% respondents are more likely to visit countries offering simplified visa processes like e-visa or visa-on-arrival options such as Thailand, Malaysia, UAE and Sri Lanka. 39% Indian travellers prefer to actively seek promotions, highlighting the strong influence of discounts/special offers on their purchasing campaigns and deals from tour operators and tourism boards are driving travel interest. 85% of respondents plan to increase their holidays from 2 per year to 4-6 trips annually, and approximately 84% of respondents plan to increase their travel spends by 20-50% in 2025, with over 18% intending to boost budgets by a significant 50% . Internationally, Europe continues to top the list (50%) led by Switzerland, France, Austria and Germany. Central Asia's Uzbekistan, Kyrgyzstan, Kazakhstan (32%) signal growing interest for unique short hauls with easy access and Kale, President & Country Head – Holidays, MICE, Visa, Thomas Cook (India) Ltd., said the Indian traveller story is no longer just about destinations—it's a reflection of evolving lifestyles and rising aspirations."Our Holiday Report 2025 clearly signals the emergence of a bold, experience-first traveller mind-set. Indians are not only travelling more, but also increasing spends - choosing depth, discovery and emotion over traditional sightseeing tours. While multigenerational family segments continue to lead, we are seeing strong emergence of new travel subsets like frolleagues and solo travellers," he Nandakumar, President and Country Head - Holidays and Corporate Tours - SOTC Travel, said the report reflects evolving travel formats, with Indians moving away from rushed itineraries in favour of comfort-first, immersive experiences."Slow travel is seeing an uptick, with river and ocean cruises and sustainable rail journeys offering unique opportunities for exploration. Additionally, spiritual/pilgrimage tourism is on the rise – with our 'darshans' portfolio coupled with adventure tourism is gaining popularity – interestingly from young India's millennials and GenZ," he added.
