Travel and tourism industry growth coupled with rising business travel, easy online booking and discounted travel packages are anticipated to push worldwide travel insurance sales to $31.3 billion annual, representing a 14.49% compound annual growth rate, by 2027, according to ResearchandMarkets.com. In 2021, the market's global value was estimated to be $13.9 billion. The World Travel & Tourism Council (WTTC) reported during the first half of the year, worldwide inbound flight books have grown triple digits, in the Americas, Europe and Asia. For example, Europe saw a 350% increase in international arrivals during the first quarter of 2022 compared with the same period the year prior. Asia-Pacific countries saw an increase of more than 250%. The acceleration in travel continued in Q2 2022, according to the WTTC, which reported international bookings increased 264% during the period. Additionally, some countries are making it mandatory to attach travel insurance documents to visa applications, which is also expected to lift the market. The above slideshow includes details on the top-rated travel insurance companies, according to an analysis from Forbes Advisor. Related: |

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]

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