Latest news with #ThomasCook
Yahoo
2 days ago
- Business
- Yahoo
European travel to the US slowed down this year — but travel companies say a summer rebound is already underway
Travel companies said European trips to the US dipped in early 2025 but are starting to rebound. Price reductions and deposit incentives are driving travel back to the US ahead of the summer. Trump's tariffs sparked boycotts of US brands, but travel firms see no structural collapse. Despite political tensions and growing anti-American sentiment, US travel is holding steady among European tourists — especially when prices drop. From January to April, several major travel platforms observed a slowdown in European bookings to the US. Thomas Cook reported a dip that exceeded typical seasonal fluctuations. "We did observe a softening in bookings to the US between January and April this year — a dip that goes beyond the usual seasonal adjustments," Nicholas Smith, holidays digital director at Thomas Cook and eSky Group, told Business Insider. However, by May, things began to shift. Smith said aggressive pricing strategies, including hotel rate cuts of around 25% and deposits of just over $1, triggered an uptick in bookings. "This has, in turn, helped stimulate demand, particularly among UK travelers adept at spotting good deals," he said. "We expect this rebound to continue into the summer months." Other travel firms echoed that optimism. TravelPerk, which serves business and corporate travelers, said bookings to the US from Europe rose 1% year over year in April, while US to Europe bookings climbed by 14%. Cancellation rates remained stable at 7 to 9%. Etraveli Group, which analyzed bookings through April, found that while demand for flights from the EU to the US declined by 7%, overall trip orders to the US from Europe jumped 19.5% year over year. However, bookings to other intercontinental destinations grew even faster, up 24.3% overall, 29% for Africa, and 25% for Asia. Shorter intra-European trips surged by 29%. These shifts are unfolding against a politically charged backdrop. President Donald Trump's escalating trade war, with tariffs on EU imports swinging from 20% to 10% and now potentially rising to 50%, has triggered grassroots consumer backlash across Europe. Apps like Brandsnap in the Netherlands and Detrumpify in France are helping Europeans identify US brands to avoid in supermarkets and online. In Denmark, major retailer Salling Group labelled European-made products with black star labels, while Norway's largest oil bunkering operation company, Haltbakk Bunkers, made headlines for briefly refusing to refuel US Navy ships. Meanwhile, high-profile American brands like Tesla and Coca-Cola are already seeing a fallout. Tesla's sales in Europe dropped by 46% between January and April, according to data from the European Automobile Manufacturers Association, and McDonald's reported a global sales dip linked to "anti-American sentiment," especially in Northern Europe. This behavior may reflect more than a passing political reaction. In its March Consumer Expectations survey, the European Central Bank found that 44% of about 19,000 respondents preferred to switch away from US brands, regardless of tariff levels. The bank warned that this suggested a "possible long-term structural shift in consumer preferences away from US products and brands." French hotel giant Accor added to the concerns last month. CEO Sébastien Bazin told Bloomberg that summer bookings to the US from Europe were down 25%. Yet, travel industry analysts cautioned against assuming this signals a long-term shift. "While there is evidence of a temporary slowdown at this stage, the combination of price adjustments and strong interest in iconic US destinations suggests the market is poised to recover momentum," said Smith of Thomas Cook. Hosuk Lee-Makiyama, director of the European Centre for International Political Economy, told BI that politics isn't the only factor deterring travelers. "Some of it is a genuine disinclination against spending your holidays in the US," he said, "but much of it is the fear of harassment at the border." Read the original article on Business Insider
Trade Arabia
2 days ago
- Business
- Trade Arabia
Indian travellers seek more, ready to spend higher: Survey
Indian travel market is a picture of a booming sector with 85% of people responding to a survey planning to increase their frequency of holidays and a significant number intending to boost budgets by up to 50%. The survey, India Holiday Report 2025, released by Thomas Cook (India) Limited, India's leading omnichannel travel services company, and its Group Company SOTC Travel, is a comprehensive study capturing the evolving aspirations and travel behaviour of Indian consumers. The survey conducted across digital platforms covering over 2,500 respondents (a combination of past Thomas Cook India and SOTC Travel customers, as well as non-customers) over a month, reflects a significant shift driven by rising disposable incomes and the growing aspirational value of travel, including experiential holidays. 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 (Northern Lights, Cherry Blossom, Midnight Sun, etc.) are at the forefront of Indian travellers' preferences, it said. Phygital journeys, blending digital discovery with human touch-points, continue to influence and drive bookings. Additionally, 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-chateaux, it found. Key findings include: 1. Key Holiday Drivers: Travel has now become a necessity – an essential part of the Indian lifestyle and is driven by factors like: • 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, highlighting the strong influence of discounts/special offers on their purchasing decisions. Promotional campaigns & deals from tour operators and tourism boards are driving travel interest. At the same time, there is a clear shift towards trusted travel brands for premium holiday experiences, reflecting a focus on reliability • Word of mouth still relevant: 30% of respondents reported that recommendations from friends, family and colleagues continue to impact their holiday decisions 2. Increased frequency of holidays and longer stays: • Holidays set to double/triple: 85% of respondents plan to increase their holidays from 2 per year to 4-6 trips annually • 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 4. 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's 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 5. 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 6. Premium & 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 7. 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%) 8. Increasing Demand for New Travel formats: Indians are increasingly opting for new and unique travel formats • Cruises (45%), self-drives (35%) and scenic train journeys (20%) have entered the top three holiday travel formats apart from flights, as more travellers seek unique, curated, comfort-first experiences. • Cruises across domestic and international for both ocean and river options, are emerging as popular choices • This shift reflects the growing appeal of slow, immersive travel over rushed itineraries, including sustainable options like scenic train journeys in Switzerland 9. Booking Patterns: Travellers are increasingly using a blend of digital platforms for research, contact centers and retail outlets for bookings, making phygital journeys a key driver of conversions • 58% prefer a mix of online convenience with offline guidance (phygital), 59% opt for in-person visits to tour agency or talking over the phone while 68% book online • While digital adoption is growing, there remains a strong dependency on in-person visits to agencies, valued for the human touch, personalized guidance and expert recommendations 10. Travellers equally divided across travel styles: The report reveals a near-equal distribution in travellers preferences for type of holidays • 35% prefer partially guided tours, valuing a balance of structure and autonomy • 33% respondents opted for fully packaged and guided tours, seeking a seamless, worry-free experience. Interestingly an equal number of respondents (32%) opted for entirely self-planned journeys 11. Sustainability focus: 37% of respondents are increasingly prioritizing sustainability and eco-conscious practices in their travel choices 12. Impact of AI & Tech on Travel Planning: The rise of AI and technology is transforming travel planning, with 35% of travellers using digital platforms for research, bookings and itinerary planning Rajeev Kale, President & Country Head – Holidays, MICE, Visa, Thomas Cook (India), 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. 'Our Holiday Report 25 reflects a strong shift towards offbeat travel and emerging destinations like phenomenon travel - whether it's experiencing cherry blossoms in Japan/South Korea or witnessing the midnight sun in Scandinavia/Russia. At Thomas Cook, we're excited to witness the rapid evolution of Indian travellers and are curating exciting holidays that reflect this experience-first outlook.' S D Nandakumar, President & Country Head - Holidays & Corporate Tours - SOTC Travel, said: 'Our Holiday Report 2025 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. 'Booking behaviours have also shifted—while Indians are researching online, they continue to value expert guidance, making SOTC's phygital approach a key driver of trust and convenience. At SOTC, we're proud to offer experiences to suit every Indian traveller segment. With over 75 years of experience and a deep understanding of Indian travellers' evolving needs, SOTC ensures that every journey is memorable and enriching.' – TradeArabia News Service
Business Insider
2 days ago
- Business
- Business Insider
European travel to the US slowed down this year — but travel companies say a summer rebound is already underway
Despite political tensions and growing anti-American sentiment, US travel is holding steady among European tourists — especially when prices drop. From January to April, several major travel platforms observed a slowdown in European bookings to the US. Thomas Cook reported a dip that exceeded typical seasonal fluctuations. "We did observe a softening in bookings to the US between January and April this year — a dip that goes beyond the usual seasonal adjustments," Nicholas Smith, holidays digital director at Thomas Cook and eSky Group, told Business Insider. However, by May, things began to shift. Smith said aggressive pricing strategies, including hotel rate cuts of around 25% and deposits of just over $1, triggered an uptick in bookings. "This has, in turn, helped stimulate demand, particularly among UK travelers adept at spotting good deals," he said. "We expect this rebound to continue into the summer months." Other travel firms echoed that optimism. TravelPerk, which serves business and corporate travelers, said bookings to the US from Europe rose 1% year over year in April, while US to Europe bookings climbed by 14%. Cancellation rates remained stable at 7 to 9%. Etraveli Group, which analyzed bookings through April, found that while demand for flights from the EU to the US declined by 7%, overall trip orders to the US from Europe jumped 19.5% year over year. However, bookings to other intercontinental destinations grew even faster, up 24.3% overall, 29% for Africa, and 25% for Asia. Shorter intra-European trips surged by 29%. Tariff backlash These shifts are unfolding against a politically charged backdrop. President Donald Trump's escalating trade war, with tariffs on EU imports swinging from 20% to 10% and now potentially rising to 50%, has triggered grassroots consumer backlash across Europe. Apps like Brandsnap in the Netherlands and Detrumpify in France are helping Europeans identify US brands to avoid in supermarkets and online. In Denmark, major retailer Salling Group labelled European-made products with black star labels, while Norway's largest oil bunkering operation company, Haltbakk Bunkers, made headlines for briefly refusing to refuel US Navy ships. Meanwhile, high-profile American brands like Tesla and Coca-Cola are already seeing a fallout. Tesla's sales in Europe dropped by 46% between January and April, according to data from the European Automobile Manufacturers Association, and McDonald's reported a global sales dip linked to "anti-American sentiment," especially in Northern Europe. This behavior may reflect more than a passing political reaction. In its March Consumer Expectations survey, the European Central Bank found that 44% of about 19,000 respondents preferred to switch away from US brands, regardless of tariff levels. The bank warned that this suggested a "possible long-term structural shift in consumer preferences away from US products and brands." It may not be a long-term shift French hotel giant Accor added to the concerns last month. CEO Sébastien Bazin told Bloomberg that summer bookings to the US from Europe were down 25%. Yet, travel industry analysts cautioned against assuming this signals a long-term shift. "While there is evidence of a temporary slowdown at this stage, the combination of price adjustments and strong interest in iconic US destinations suggests the market is poised to recover momentum," said Smith of Thomas Cook. Hosuk Lee-Makiyama, director of the European Centre for International Political Economy, told BI that politics isn't the only factor deterring travelers. "Some of it is a genuine disinclination against spending your holidays in the US," he said, "but much of it is the fear of harassment at the border."
Business Upturn
3 days ago
- Business
- Business Upturn
Thomas Cook India partners with Muthoot Group to expand reach of Borderless and Study Buddy forex cards
By Aditya Bhagchandani Published on May 31, 2025, 14:10 IST In a strategic move to widen its distribution network and tap into India's growing demand for international travel and education, Thomas Cook (India) Limited has announced a partnership with Muthoot Forex, the foreign exchange arm of Muthoot Group. The alliance aims to enhance accessibility to Thomas Cook's prepaid forex card offerings—Borderless Travel and Study Buddy Cards—across the country, especially in Tier 2 to Tier 4 cities. As part of this agreement, Thomas Cook will leverage Muthoot Group's extensive nationwide network, which includes over 7,000 branches and 43 fully operational forex outlets. The initiative is expected to significantly broaden the cards' footprint and simplify access for travellers and students preparing for international journeys. Product overview: The Borderless Travel Card supports 12 global currencies and can be used at over 70 million merchant outlets in more than 200 countries. It offers features like complimentary airport lounge access, SIM cards, insurance coverage, and emergency cash assistance. The Study Buddy Card, designed specifically for students heading abroad, comes with an ISIC card, global SIM, zero markup on base currency, ATM withdrawals, and exclusive student-focused benefits. Commenting on the development, Deepesh Varma, EVP – Foreign Exchange, Thomas Cook (India) Ltd., stated, 'This partnership is a strategic initiative to deepen our reach in emerging markets. It brings together Thomas Cook's legacy in travel and forex with Muthoot Group's extensive physical footprint, allowing us to serve more Indian customers with convenient and secure forex card solutions.' With this collaboration, Thomas Cook India aims to reinforce its omnichannel approach and expand its presence across the country, offering seamless financial and travel services tailored for both leisure and student travellers. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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Business Standard
4 days ago
- Business
- 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.'
