Global Tourism Insurance Market Growth (Status and Outlook) 2024-2030

Global Tourism Insurance Market Growth (Status and Outlook) 2024-2030

According to our LPI (LP Information) latest study, the global Tourism Insurance market size was valued at US$ 20380 million in 2023. With growing demand in downstream market, the Tourism Insurance is forecast to a readjusted size of US$ 26340 million by 2030 with a CAGR of 3.7% during review period.

The research report highlights the growth potential of the global Tourism Insurance market. Tourism Insurance are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Tourism Insurance. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Tourism Insurance market.

Travel insurance is a product focused on protecting policyholders against specified losses, accidents or other adverse events, which may occur before or during travel. Examples include trip cancellation/interruption, overseas medical expenses for injury or illness, theft of valuables, and baggage delay or damage. Many travel insurance policies also include the provision of emergency medical assistance services, such as call center operating 24 hours, seven days a week, and an international network of specialist health care providers.

There are standard general exclusions and invalidations on most types of travel insurance policies (for example, self‑inflicted injury, acts of terrorism, non‑approved pre‑existing medical conditions, “dangerous” or extreme activities, and policyholders being under the influence of alcohol or drugs). Travel insurance is generally available in two forms: (i) as a single-trip insurance policy, which provides cover for a specific trip and is matched to the exact characteristic of the trip (e.g. number of travelling days and destination) and (ii) as an annual insurance policy, which covers multiple trips in a year. Travel insurance can be purchased from travel agents, travel suppliers (airlines, hotels, cruise lines, tour operators) a private insurance firm, insurance brokers, or online. The GWP in this report all refer to the Gross written premium from Travel Insurance. The characteristics of fine travel insurance unit of measurement as follow:

In 2022, the gradual relaxation of epidemic prevention and control measures around the world will have a positive impact on the rapid recovery of the tourism industry. According to data from the World Tourism Organization, the number of global travelers exceeded 900 million in 2022, a two-fold increase compared to 2021. In 2022, international tourism revenue returned to the US$ 1 trillion, a real increase of 50% compared with 2021. According to data from the Ministry of Culture and Tourism of China, in 2022, the total number of domestic tourists was ¥ 2.53 billion, and the domestic tourism revenue (total tourism consumption) was ¥ 2 trillion.

Key Features:

The report on Tourism Insurance market reflects various aspects and provide valuable insights into the industry.

Market Size and Growth: The research report provide an overview of the current size and growth of the Tourism Insurance market. It may include historical data, market segmentation by Type (e.g., Medical Expense, Trip Cancellation), and regional breakdowns.

Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the Tourism Insurance market, such as government regulations, environmental concerns, technological advancements, and changing consumer preferences. It can also highlight the challenges faced by the industry, including infrastructure limitations, range anxiety, and high upfront costs.

Competitive Landscape: The research report provides analysis of the competitive landscape within the Tourism Insurance market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.

Technological Developments: The research report can delve into the latest technological developments in the Tourism Insurance industry. This include advancements in Tourism Insurance technology, Tourism Insurance new entrants, Tourism Insurance new investment, and other innovations that are shaping the future of Tourism Insurance.

Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the Tourism Insurance market. It includes factors influencing customer ' purchasing decisions, preferences for Tourism Insurance product.

Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the Tourism Insurance market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting Tourism Insurance market. The report also evaluates the effectiveness of these policies in driving market growth.

Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the Tourism Insurance market.

Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the Tourism Insurance industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.

Recommendations and Opportunities: The report conclude with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the Tourism Insurance market.

Market Segmentation:

Tourism Insurance market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of value.

Segmentation by type
Medical Expense
Trip Cancellation
Trip Delay
Property Damage
Others

Segmentation by application
Domestic Tourism
Oversea Tourism

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Allianz
Munich RE
Generali
AXA
Hanse Merkur
Groupama
Mapfre Asistencia
AIG
CSA Travel Protection
USI Affinity
Seven Corners
MH Ross
Tokio Marine
Sompo Japan
Pingan Baoxian
STARR
Insubuy

Please note: The report will take approximately 2 business days to prepare and deliver. Show more