Thomas Cook starts forex service at Thiruvananthapuram airport

Thomas Cook has announced the launch of foreign exchange services at Kerala's Thiruvananthapuram airport.

This is the company's fourteenth foreign exchange outlet in the state.

The company has outlets in airports at Mumbai, Delhi, Bangalore, Chennai and Kochi.

Foreign exchange accounts for 60% of Thomas Cook's revenue and it saw a growth of 28% in 2011-12.

Thomas Cook has been on an expansion drive, increasing its presence in tier II and III cities. In the current year, it added over 30 foreign exchange outlets in smaller cities  sensing potential in inward remittance business.

According to Thomas Cook, the inward remittances business is growing at a CAGR (compound annual growth rate) of 25%.