Travel Money, the flagship Foreign Exchange brand of FCM Travel Solutions, Indian subsidiary of Flight Centre Travel Group Australia, strengthened its presence in South India with an inauguration of its first owned retail store at one of the key locations at Vijaywada, Andhra Pradesh. The outlet was inaugurated by Gagan Malhotra, Vice President, Foreign Exchange, FCM Travel Solutions India Pvt Ltd. This expansion augments total number of outlets to the 34 stores across India, out of which 14 are in South India.
Observing the higher demands and trends in the travel space and from the passionate travellers, Travel Money stores have been designed to help the customers with unbeatable pricing and quality related to Foreign Exchange. Spread over 1,000 sq. ft. at M. G Road, the store offers a range of foreign exchange services such as forex, travel cards and outward remittances for education or close relative maintenance.
Speaking on the launch, Gagan Malhotra, Vice President, Foreign Exchange, FCM Travel Solutions India, said, “We are extremely pleased to announce our first owned exclusive retail store in Vijaywada and thereby in Andhra Pradesh. According to the BCG report titled ‘Demystifying The Indian Online Traveller 2017’, the Indian travel market is projected to grow at 11 to 11.5 per cent to the tune of $ 48 billion by 2020. Indian travel given the significant outbound tourism growth in South India market, we aim to deliver quality and convenience in all aspects of foreign exchange including remittance for students, Leisure & Business travel, Prepaid Travel Cards, and much more to our travellers. Our new branch at Pothuri Towers, M.G. Road is a prime location, which will allow our consumers an easy access. With our distinctive and innovative consumer centric services witnessing a strong uptake, our foreign exchange business is witnessing an impressive 43 per cent year on year.”
Travel Money’s current footprint extends to a total of 34 stores across India in all major cities including Delhi, Gurgaon, Mumbai, Pune, Ahmedabad, Chandigarh, Bangalore and Cochin via a combination of owned branches and franchise outlets.