An Insight Into Sustainable Travel Planning with Unimoni

The travel experiences and requirements have seen a massive shift since the pandemic. Earlier people used to travel for 5-6 days; today that number hovers around 10-14 days. This is driven by a desire for ‘revenge travel’, having been tied down at home for over two years, and to explore a destination in more depth than before. 

Additionally, people today, especially millennials, want quality and are willing to pay a premium for more exclusive and experiential travels. We are seeing more people opt for destinations like Vietnam and Athens instead of the run of the mill destinations like Thailand and Singapore. Travellers are clubbing smaller European destinations and making longer plans, instead of picking just one country. 

Secondly, a lot of demand in travel is today being driven by business tourism, ie, Meetings, Incentives, Conferences and Exhibitions (MICE) industry. 

Today, more people opt for destinations like Vietnam and Athens

What are the benefits of a Forex card for a traveller headed abroad?

Unimoni’s travel card is a prepaid card, and can be loaded with 14 currencies; it is a multi-currency prepaid forex card. We do not levy any issuance, reissuance or annual fee. The primary benefit of using a forex card instead of a credit card is that you are locking the exchange rate now. This translates to more convenience and safety, and you will not be affected by any changes in the market and its consequent impact on currency rates. 

With a credit card, you have all the convenience in India, but the minute you head abroad, every time you spend money, you’ll have to calculate how much it translates to in Indian Rupee. Exchange rates on the credit card are usually on the higher side as well. 

Plus, ATM withdrawals through forex cards often incur fixed transaction fee while withdrawing through a credit card is more expensive abroad. 

Recommend a few sustainable financial habits for millennial travellers.

The first advice I have is to plan during the weekdays. Not many people are aware that travelling during weekdays is considerably cheaper than weekends, and I always advise young travellers to plan in advance. 

Secondly, since we know that young millennials and Gen Z population values experiences above anything else, I always recommend creating a regular savings program that is directed towards travel. For example, you can create an SIP or a recurring deposit account, where you put in a certain amount on a monthly basis for your travel ambitions. This will allow young travellers to plan their expeditions in a financially prudent way.  

Third, do not depend on a credit card. Always opt for a multicurrency prepaid card. And never exchange currency at the airport. Also plan your currency requirement well in advance and load it in the prepaid multi-currency card and in the Foreign Exchange form before reaching the airport.

Unimoni also offers support to students pursuing higher education abroad

How did Unimoni enter the space of forex exchange and travel solutions? 

Unimoni started in 1999 predominantly as a money transfer company; we facilitated remittances from people living abroad to their families in India. But we were soon inundated with requests for money exchange facilities and that is how Unimoni’s current role as a Foreign Exchange company came into being. Today, we also offer end to end travel services as well.

Predominantly we cater to NRI customers; 90% of our base is NRI, and it is the differentiation that we bring to the table. We have learnt how our NRI base has evolved. Earlier, people would go to the UAE, but now people are going to Europe and Canada too. Similarly the spending pattern has changed. This is where our expertise lies. Additionally, we have 300 plus branches across India and offer a physical touch base to our clients. We offer visa application services, can design your itineraries and book hotels for you as well. 

Does Unimoni also offer support to students pursuing higher education abroad?

Out of the total foreign currency transaction we had done in the past financial year, one-third was done for educational purposes. We have recently started a scholarship program that can be availed by students across age and subject spectrums. The program, called ‘Unimoni Stars 2023’ will award 6 lakh Rupees to the selected study-abroad aspirants and those already pursuing higher education there. You can also grab monthly rewards, avail free assistance for educational loans, free multi-currency travel cards and air tickets at students’ fares.