Global Travel Insurance Market Anticipated to Grow at a CAGR of 7.6% during 2016-2024 from USD 14.7 Billion in 2016
According to Goldstein Research, global travel insurance market size is expected to reach USD 26.41 billion by 2024 from estimated USD 14.7 billion in 2016, growing at a CAGR of 7.6% over the forecast period 2016-2024. The factors such as rising concerns over medical conditions and potential losses allied with airline cancellations and delays are encouraging the consumers to purchase travel insurance policy hence fuelling the growth of global travel insurance industry. Global travel insurance market segmentation has been done on the basis of travel insurance type, travel insurance supplier, application, end user and geography. Considerable growth in the adoption of travel insurance is now being observed by older population. In Europe, around 26% of adult population purchased holiday and travel insurance in 2016. Global travel insurance market is largely dominated by Europe owing to the increasing number of travelers and travel insurance opted in countries such as the UK, Italy, G...