Travel Insurance Market Growth Trends With Detailed Forecast To 2023-2029

Travel Insurance Market size was valued at USD 21.46 Bn. in 2022 and the total Travel Insurance revenue is expected to grow by 16 % from 2022 to 2029, reaching nearly USD 21 Bn.
Travel Insurance Market Overview:

Travel insurance helps travellers prepare for any unexpected events that may disrupt their journey. The fear of a COVID-19 pandemic following its outbreak in early 2020 is allowing travel insurance vendors to offer COVID-19 coverage. Coverage for related costs such as testing and quarantine. Rising tourism demand following the lifting of the COVID-19-related lockdown is propelling the travel insurance market forward. Travel insurance demand is expected to skyrocket as the tourism industry grows due to factors such as easy internet travel bookings, extensive media coverage of various holiday types, an increase in disposable income, and enhanced package holidays.