Global Tourism Insurance Market is anticipated to grow 1.5x by the end forecast period with a CAGR of over 18.5% during the forecast period (2021 to 2027).
Travel coverage offers insurance for associated dangers, including harm or death, lack of luggage, delays, and even traveling. The charges range in keeping with the plans and coverages, including journey cancellation, lack of luggage & journey documents, scientific expenses, emergency scientific evacuations, and others. Further, an extensive boom in tourism, modern technologies, improvement in journey rules & regulations, and others are a number of the rewarding elements that improve the marketplace growth.
Based on End Users, the market is segmented into Family Travelers, Education Travelers, Business Travelers, and Others. Family travelers continue to dominate the industry, while business travelers are the fastest-growing category during the projection period, Due to the expansion of foreign trade, the increase of foreign business, and the increase in business travel expenses. The growth of the tourism industry is the main driving force for expanding the global travel insurance industry.
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Global Tourism Insurance Market Segmentation:
Global Tourism Insurance Market, by Insurance Cover
- Single-Trip Travel Insurance
- Annual Multi-Trip Travel Insurance
- Long-Stay Travel Insurance
Global Tourism Insurance Market, by Distribution Channel
- Insurance Intermediaries
- Insurance Companies
- Banks
- Insurance Brokers
- Insurance Aggregators
Global Tourism Insurance Market, by End-User
- Senior Citizens
- Education Travelers
- Business Travelers
- Family Travelers
- Others
Based on the region, the Global Tourism Insurance printing market has been segmented into five geographical regions, namely, North America, Asia Pacific, Europe, South America, and the Middle East and Africa. In 2020, Asia Pacific held the largest share in the global Tourism Insurance market, followed by North America.
Global Tourism Insurance Market, by region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Italy
- France
- UK
- Spain
- Poland
- Russia
- Slovenia
- Slovakia
- The Netherlands
- Belgium
- Norway
- Denmark
- Czech Republic
- Sweden
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Indonesia
- Malaysia
- Thailand
- Vietnam
- The Philippines
- Singapore
- Australia & New Zealand
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Colombia
- Rest of Latin America
- The Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Northern Africa
- Rest of MEA
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Major market players covered in the Global Tourism Insurance Market:
- Allianz Group
- American International Group Inc.
- Assicurazioni Generali S.P.A
- AXA
- Insure & Go Insurance Services Limited
- Seven Corners Inc.
- Travel Insured International
- TravelSafe Insurance
- USI Insurance Services
- Zurich Insurance Co. Limited.
(Note: Major players list will be updated with the latest market scenario and trends)
Competitive Landscape:
- Established companies
- Emerging players who are growing rapidly
- New Entrants and Prominent Startups
- Competitive Product Benchmarking
- Product Development Matrix
Regional Research Reports Key Takeaways:
- Growth prospects
- SWOT analysis
- Key trends
- Key data points affecting the market growth
Objectives of the Study:
The Global Tourism Insurance market report thoroughly analyzes macro-economic factors and every segment's market attractiveness. The report will include an in-depth qualitative and quantitative assessment of the segmental/regional outlook with the market players' presence in the respective segment and region/country. The information concluded in the report includes the inputs.
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