Thomas Cook (India) Limited has expanded its airport foreign exchange network by opening new forex counters at the Alluri Sitarama Raju International Airport in Bhogapuram, Visakhapatnam. This move aims to cater to the growing demand from Tier 2 and Tier 3 cities, which account for over half of India’s forex demand. The expansion aligns with the company’s strategy to strengthen its presence in key aviation gateways and capitalize on the rising international travel trends from emerging Indian markets.
Expanding Airport Forex Network
Thomas Cook (India) Limited, a leader in omnichannel foreign exchange services, has enhanced its airport presence with the inauguration of new forex counters at the Alluri Sitarama Raju International Airport, Bhogapuram. This strategic expansion bolsters the company’s presence in the Visakhapatnam market and the broader Andhra Pradesh region, offering travellers convenient access to a range of foreign exchange services and currencies.
Tapping into Emerging Market Growth
The opening of these new counters coincides with a significant shift in India’s forex ecosystem, where emerging cities are playing an increasingly vital role. According to the company’s India Forex Report 2026, Tier 2 cities represent 41% of overall forex demand, and Tier 3 cities contribute an additional 12%, collectively accounting for over half (53%) of the market’s forex demand. This highlights the substantial contribution of ‘Emerging India’ to the next phase of forex growth.
Strategic Expansion in Key Locations
Visakhapatnam is identified as a crucial market within this growth trend. The new airport is projected to handle over 28 lakh domestic and international passengers annually and already has international connectivity to the UAE and Singapore, with potential for further Southeast Asian routes. This expansion is part of Thomas Cook India’s broader strategy to fortify its airport forex network across major aviation hubs, following recent reopenings in Delhi and new openings in Bengaluru.
Insights into Travel Trends
Data from Thomas Cook India’s airport counters reveals diverse reasons for outbound travel, with leisure and holiday travel being the largest segment, followed by employment-related travel. Other transaction drivers include reconversion by NRIs and foreign nationals, as well as student travel, indicating a wide spectrum of forex needs the company aims to address.
Focus on Emerging India
Mr. Deepesh Varma, Chief Business Officer – Foreign Exchange at Thomas Cook (India) Limited, stated, “The opening of our new forex counters at Alluri Sitarama Raju International Airport is an important step in strengthening our presence in Visakhapatnam and the wider Andhra Pradesh market. Our India Forex Report 2026 highlights the significant contribution of Tier 2 and Tier 3 markets… With Visakhapatnam developing as an important international aviation gateway, we see a strong opportunity to bring our forex services closer to customers in the region.” The company remains committed to evaluating strategic opportunities to build a stronger presence across India’s evolving travel and forex landscape.
Source: BSE
