In response to Varma, the enterprise is rising at 160% of the pre-pandemic stage, as a result of a pointy enhance in college students going overseas. Round eight lakh college students journey overseas yearly, and this quantity has been rising post-Covid.
“A number of issues have modified. One is that disposable revenue has elevated. Second is the provision of loans, which have made it a lot simpler for folks to get them. Third, there’s a variety of peer strain to enterprise out, particularly in smaller cities,” mentioned Varma. Earlier, 80% of the demand for pupil foreign exchange got here from metros and tier-I cities. Now, that has modified to round 65:35.
“I am positive that within the subsequent 4 or 5 years, the contribution could be 50-50,” mentioned Varma. His projections are based mostly on the demand that his firm sees within the 65 cities it’s current in.