Across every generation, more people are crossing international lines to visit loved ones and exotic locations around the world. The UN World Tourism Organization reported that 900 million tourists total engaged in international travel in 2022. While fewer travelers than the 1.5 billion people in 2019, the numbers are increasing. In the first six months of 2022, January – July, roughly 474 million people engaged in international travel vs 175 million from January 2021 – July 2021. International travel is expected to grow exponentially by 30% or more.
Social media is making international travel more desirable than ever. When people see pictures of exotic locations, especially places their friends are visiting, or from the many travel blogs or influencers, they get inspired to take trips of their own. Today, more than 70% of people want to travel the world, and travel insurance can help them stay safe while they accomplish their dreams.
But with more travelers, new problems arise. Many popular destinations like Venice and Machu Picchu struggle with overtourism, and not everyone who wants to visit a place can be accommodated. Large crowds can also lead to accidents and injuries, which can take up valuable vacation time and cost travelers thousands. Not to mention loss of luggage, delayed flights, canceled events and destinations closing unexpectedly, all adding up to the high cost of travel expenses.
When travelers do not have medical insurance in a foreign country and have an accident, injury or other health emergencies, the financial burden of care can fall to the host country. As a result, more and more countries are considering making travel insurance a requirement for visitors entering the country. Countries globally including the U.S. and E.U. may require proof of travel medical insurance to obtain certain visas and more countries are seriously considering making it mandatory for all visitors.
Due to the ever changing requirements and other unexpected situations, travel insurance is not only a prudent choice, but a necessity. Adding travel insurance to your portfolio can help people safeguard their travel dreams, while boosting your commissions and improving your portfolio.
Would you like to know more about selling trip and travel insurance using Treppy™? To learn more, please contact our team and we’ll help you get started selling travel insurance today.