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| Get set for that foreign degree |
| Neha Pandey & Masoom Gupte / Mumbai Jul 09, 2010, 00:09 IST |
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We take a look at the packages being offered by travel companies.
Tejal Deshpande was on cloud nine when she secured an admission for a post-graduate course at Kingston University a month ago. But, as her joining date approaches, she is getting sleepless nights as she is yet to make travel arrangements for London. Same is the case with Pooja Ganapathy, who is joining San Jose State University, California. Ganapathy’s course will begin in September and she would prefer to get all the arrangements done under one roof.
Travel experts say students mainly require tickets, insurance and foreign currency for travelling abroad. To cash in on the opportunity, tour operators have launched packages clubbing all these components. For instance, Cox & Kings has a ‘Students’ Special’ and Thomas Cook has a ‘University Special’.
Both the packages offer similar facilities: Foreign currency (in different forms like cash, travellers’ cheques, pre-paid debit cards, demand drafts, etc), travel/student insurance, air tickets and direct fee remittance to the college. They also assist you with your passport, visa documentation and hotel as well as car reservations till the college or hotel.
Other benefits included in the package are post-paid SIM cards, excess baggage allowance, special discounts for a companion travelling with the student and exclusive fares for special group departures, to name a few.
In the package, air ticket and insurance are fixed-price components. Reason: Tour operators tie up with airlines and general insurance companies to buy (tickets/policies) in large numbers. As a result, they get tickets at competitive rates (bucket price), which are around 20-25 per cent lower (excluding tax) than the market price.
Discounts on forex
Premiums, too, are offered in a wide range of Rs 5,000-Rs 23,500. Therefore, the price flexibility depends only on the foreign currency purchased. Depending on the exchange rate of the currency and the volume you buy, you may pocket some discounts, called deals, by tour operators.
According to Thomas Cook Vice-President (Foreign Exchange) Mahesh Iyer: “Based on the volume of currency purchased and exchange rate movement, one may get up to a percentage discount and also avail a range of special offers.”
For example, if the exchange rate for a dollar is Rs 45, you are most likely to get it at Rs 44.50. Thomas Cook has its own currency rate card, based on which the discounts are decided. And, higher the amount of currency bought, higher will be the discount.
At Cox & Kings, the onus is on incentives. “We do not give discounts as such. Instead, we offer freebies, depending on the amount of foreign currency you buy,” said the company’s Head (Foreign Exchange) Ravi Menon.
So, if Deshpande intends to buy £5,000, she may get luggage bags and a post-paid SIM card gifts. Buying £7,000 may fetch her a netbook and over £9,000 will get her an air ticket voucher worth Rs 18,500. Ganapathy may get luggage bags, travel insurance and a SIM card on buying $5,000. She may get a netbook for $9,000 and a laptop for over $13,000.
A word of caution: Students should not carry currency in cash alone. Travel experts recommend only up to 10 per cent in cash, while dividing the remaining amount equally in travellers’ cheques and a pre-paid debit card. The Reserve Bank of India allows an individual to carry $100,000 in different forms and $3,000 in cash. “I have taken an education loan. So, the bank will provide the foreign currency. But I need insurance and tickets,” said Gaurang Nabar, who is going to London for a post-graduation in architecture.
Tailor-made packages
Apart from packages, tour operators also cater to customers with specific need(s) like Nabar. They give tailor-made packages, comprising only those components that are asked for. Here, too, deals are worked out depending on the amount of foreign currency bought.
Mercury Travels CEO Aashutosh Akshikar said: “The special benefit on sale of foreign exchange ranges between two and four per cent.” For up to $4,999, you may pocket a two per cent concession, three per cent on $5,000-14,999 and four per cent on over $15,000. Buying travellers’ cheques can get you luggage bags and a SIM card.”
Other tour operators, like SOTC, do not cater to student travellers. But SOTC may offer a customised package only if you take accommodation assistance. Otherwise, they organise short educational trips for students on a two-way travel package.
Additionally, airlines also come out with special student fares for the likes of Rasika Iyer, who needs assistance only with air tickets. For instance, Air India gives a 10 per cent discount on economy fares to North America, Europe, UK and Australia till December 31. Kingfisher Airlines offers 10-15 per cent off on base fares (excluding surcharges) from Mumbai/Delhi to London for travel before September 30. British Airways offers discounts of up to Rs 4,000 to students on all bookings from Hyderabad for travel before November 15.
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