Global travel trends and growth of travel insurance industry

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growth of travel insurance
The Global travel and tourism is expected to grow by 3.3 percent which is faster than the predicted United States GDP growth of 2.3 percent. The increase in Asian travelers especially visitors from India and travelers from China are accounting for this increase. The US is also expected to contribute strongly to the international travel thanks to the strength of the US Dollar, in particular when compared to the Euro.

There are interesting changes in global travel patterns. The two regions experiencing large growth in the travel insurance industry are emerging Asia and Latin America. Brazil’s Olympic Games has helped raise the travel interest in people there despite its economic problems.

European countries like France and Turkey will contribute less than the forecast in the travel and tourism industry due to series of militant attacks, political and economic turmoil. Islamist militant attacks in Paris, Nice and Brussels has lowered the tourism attraction in Europe. The GDP will grow to 1.1 percent in France this year compared to 2.9 percent in the previous year. Places like Australia is attracting lots of Asian travellers who have changed their mind of vacationing in Europe.

As is evident from the statistics, travel love to travel around the world and are ready to spend their precious time and money on to their planned travel/vacation. However to make your travel worthwhile and hassle free it is important to secure your travel with a good travel insurance plan which protects you through your journey and stay in a foreign country.

Travelers from different parts of the world who are traveling to popular destinations in United States should be aware of this fact given the costly health care system in the US. The cost of routine physician visit is very expensive in the US. The common ailments like Diabetes Mellitus with Hyperglycemia admitted to an emergency room would cost around $25,000. Stroke resulting in ICU for about 10 days would cost $120,000, Heart attack treatment with medical bills for ambulance, hospital emergency room, ICU, EKG and MRI heart scans and continuing care from cardiologists would cost about $20,000, The average treatment cost of acute kidney failure in the USA was over $22,000 in 2018. There are some visitor insurance plans from INF that offer coverage for pre-existing medical ailments.

American Visitor Insurance provides you a wide variety of International travel insurance plan options with detailed description about each and every plan from every insurer. You can visit our visitor resources page to find abundant information about types of policies available for your criteria which makes your search easy and to find the best suited visitor/travel insurance plan.

You can look at some possible factors to consider before your purchase. Purchasing visitor travel plans online is easy to do. We have plans for visitors, students, immigrants, scholars and more depending on their residential status. Our customer support team can be contacted by phone (877-340-7910) or email us for any questions about these plans.

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