Travel Market Insights
Philippines Culinary Tourism Market Size, Demand & Trends 2025-2035
Philippines Culinary Tourism Market Size and Share Forecast Outlook (2025 to 2035)
The Philippines culinary tourism market is estimated to reach ~USD 8,328.0 million in 2025. As per the report, sales are forecast to increase at a robust ~14.5% CAGR and reach ~USD 32,254.9 million by 2035 end. Total sales in the Philippines culinary tourism market represent ~3%-6% of the global culinary tourism market.
The increase in consumers’ disposable income and the changes in traveller preferences toward culturally influenced activities are expected to drive further market growth. The food fairs, food tourism and farm-to-table campaigns are particularly likely to appeal to the experienced traveller and the gourmet traveller.
Manila, Cebu, and Davao will continue to be key gateways for international arrivals, while promotions of local food varieties that originated from lesser-known destinations including Bicol and Ilocos regions will equally contribute to the cause.
Digitalization will advance the sector more given that there will be platforms for catering for specific culinary tours while blogging on foods will increase the exposure to other nations.
Marketing communication will heavily rely on social networks, as visually appealing Filipino dishes such as lechon, adobo and halo-halo become famous worldwide. Further, collaboration with various hospitality service providers, as well as airlines, will be believed to increase promoted culinary tourism experiences.
However, there is still the issue of limitations in infrastructures, and the issue of lack of standards in the quality control of the food experiences. Industry growth, however, depends on its willingness to invest in factors like culinary education and sustainable development including local farmer support and a decrease in food wastage.
| Attribute | Details |
|---|---|
| Current Philippines Culinary Tourism Market Size (2024A) | USD 7,222.9 Million |
| Estimated Philippines Culinary Tourism Market Size (2025E) | ~USD 8,328.0 Million |
| Projected Philippines Culinary Tourism Market Size (2035F) | ~USD 32,254.9 Million |
| Value CAGR (2025 to 2035) | ~14.5% |
| Philippines Culinary Tourism Market Top Players Share in 2024 | ~2%-7% |
Key Highlights from the Philippines Culinary Tourism Market Survey
- Market Estimates and Forecast 2020 to 2035
- Key Drivers and Restraints Impacting Market Growth
- Regional Analysis, Segment-wise, and Country-wise Analysis
- Competition Mapping and Benchmarking
- Brand Share and Market Share Analysis
- Key Service Innovations and Regulatory Climate
- Recommendation on Key Winning Strategies
Semi-annual Market Update for the Philippines Culinary Tourism Industry
The following table presents the expected CAGR for the Philippines culinary tourism market over several semi-annual periods spanning from 2025 to 2035. In the first half (H1) of the decade from 2024 to 2034, the business is predicted to surge at a CAGR of 15.2%, followed by a slightly declined rate of 14.0% in the second half (H2) of the same decade.
| Particular | Value CAGR |
|---|---|
| H1 | 15.2% (2024 to 2034) |
| H2 | 14.0% (2024 to 2034) |
| H1 | 15.1% (2025 to 2035) |
| H2 | 13.9% (2025 to 2035) |
In the next period from H1 2025 to H2 2035, the CAGR is expected to rise slightly to 15.1% for the first half, however, for the second half, it will decrease to 13.9%. In the H1 it has increased by 151 BPS and in the H2 it has gone up by 139 BPS.
Comparison of Historical (2020 to 2024) vs Forecast Outlook (2025 to 2035)
Due to the restrictions set amidst the emergence of COVID-19 in the Philippines and across the globe in 2020 and 2021, Philippines culinary tourism has experienced disruptions. Various travel bans and health concerns significantly affected the sector, a decline in tourist visits, and even temporary closure of restaurants and food festivals.
While domestic tourism somewhat compensated for that, people restoring regional/local peculiarities of restaurants laid the foundation for a less affected second phase of the revival.
For the targeted period 2025 to 2035, significant growth is expected due to an increase in demand for international travel and subsequently culinary experiences in particular. Compared to several years affected by the pandemic, the period is expected to reveal growth at a faster pace, driven by successful marketing strategies and infrastructure developments.
The practice of sustainability and the development of Philippine regional specialities will remain intact in differentiating the Philippines from the highly competitive other regional markets.
Due to its unique location, hospitality and cultural heritage, the tourism business of the Philippines is expected to grow significantly. Cooking, or the ability to prepare, taste, or eat delicious food, is one of many aspects that affect tourism.
As a result, the value of the target market has increased in recent years. In the field of cooking, visitors can visit different places and taste and enjoy different foods and drinks from other places. The target sector is expected to grow as more foodies travel to study more food culture, drink, and regional cuisine specialities. Several reasons contribute to growth, including rising consumer income and market penetration being one of them.
Key Dynamics Shaping the Culinary Tourism Market in the Philippines
The Culinary Tourism Market Is Fuelled by the Rise of Home Cooking and Shared Dining
Tourists can see family ties to dining at indigenous homes or cooking together at local restaurants and food tours. It aims to directly spread the customs of food culture.
This has led to a tendency for travellers to get to know each other by having a home-cooked dinner with the locals, as the demand for a full-fledged tourism experience grows.
Many places are increasingly moving from globalization to localism, preferring local items that reflect their culture rather than following global trends. This trend is helping the regional specialties grow significantly leading to increased demand for such services and products.
The Growing Tendency to Learn Cooking Is Affecting the Market
The enhanced inclination towards cooking in the Philippines is contributing immensely to the growth of culinary tourism. The public is becoming more interested in factors other than eating, and especially the techniques and traditions behind Filipino food.
This trend corresponds with the global trend in experiential travel where practical activities such as cooking, and food preparation classes form part of the travel experiences.
This is well demonstrated when it comes to the Philippines where many of the selling points are the cooking classes that involve making Filipino food like adobo, sinigang and pancit. The guests are engaged by Filipino history and the approach that makes the food special.
They can also interact with Filipino food by cooking with local chefs or buying food produce from busy markets. This also goes hand in hand with helping to take a deeper cultural experience and assisting in advertising regional foods.
Furthermore, it has promoted the establishment of culinary colleges and cooking tourism for tourists. Other locations such as Pampanga which is referred to as the culinary capital of the Philippines have cashed in on this trend by making available classes which present old as well as new-age Filipino cuisine.
If this trend is set to continue, the Philippines is well poised to solidify its culinary tourism industry, enjoy the benefits of food tourism and bring a new appreciation for Filipino food and gastronomic culture to foreign tourists.
Analysis of Top Countries Driving Culinary Tourism in the Philippines
How is the Target Industry Benefiting from Its Colorful Culture?
Vibrant Philippines Culture is Riding the Culinary Tourism in the Country
The Philippines’s culinary tourism marketplace is predicted to develop substantially because of the presence of many conventional grocery stores. In addition, spices, curries and Philippine dishes of diverse flavours are continually handled as artwork. This artwork draws overseas visitors to the cuisine and culture of the country.
In addition, one of the important motives at the back of the increase of the culinary tourism marketplace is the preference to research greater approximately Philippines’s lifestyle, subculture and traditions.
How are Digitalized Guest Experiences in the Hospitality Industry Attracting Tourists?
Digitalization Trend Expected to Boost the Target Market
Apps are being utilized by hoteliers to control the offerings they offer to their visitors, and they can now manipulate many regions of the traveller cycle and experience. Since 2020, the fashion closer to digitized and contactless offerings has accelerated. Additional offerings which include virtual check-in, contactless cards, voice recognition, and fingerprints have become a transformation because of the developing use of innovative solutions.
Users who’ve grown to be used to the use of facial and fingerprint verification to get the right of entry to their mobile phones and laptops will quickly count on the equal ease of their luxurious hotels. Unfortunately, the fee of adopting and retaining those enhancements can be prohibitive for companies who are seeking to implement them.
Category-wise Insights in the Philippines Culinary Tourism Industry
Which Activity Type is the Most Preferred?
Food Festivals Category is the Maximum Desired Activity Type
Based on the activity type, the food festivals category dominated the target market during the historic period and the market is anticipated to witness the same trend during the forecast period. The increase can be attributed to the developing affinity of vacationers for distinct experiences which mainly comprise distinctive meals and drinks.
In addition, culinary fests permit vacationers to make the maximum in their holiday time, exploring extraordinary regional specialities in a brief quantity of time and experiencing extraordinary flavours in a single area. Therefore, this category is highly preferred by vacationers who are willing to explore greater cultures in an extraordinarily brief time.
What Type of Booking Channel is the Most Prominent Channel through the Forecast Period?
Online Booking is More Preferred by Tourists
Due to how easily it can be booked and made available through internet channels, culinary tourism has increased in popularity. Due to the simple, hassle-free digital money transfer, live monitoring, and increased security offered by online booking and mobile application platforms, tourists choose to utilise them.
Online booking is becoming increasingly popular all around the world since visitors can use the internet to research and compare information on trip destinations, hotels, restaurants, and other factors providing them with the best options for their tours and holidays.
Competitive Landscape of the Philippines Culinary Tourism Market
To obtain a competitive advantage in the market, the major companies in the culinary tourism industry in the Philippines are concentrating on upgrading their offers by introducing sales, new tour destinations, and package deals.
For Instance
- In 2024, the CTPH TOUR developed additional services and for this reason, offered a food-related experience in its “A Week in Palawan” package. It also offers tourist-appealing products such as the local markets tour, the direct participation in the Filipino culinary experience through cooking classes and other food-related experiences that let guests taste Palawan’s specialities.
- Similarly, in 2024, Explore Manila Tours introduced the “Taste of Manila” tour which aims to bring the participants a complete Filipino street food experience and local product. This full-day tour covers relevant tourist destinations like Binondo, the Place for the Oldest Chinatown in the world and a few more cultural spots in Manila, making a completely diverse Manila food trip.
Scope and Coverage of the Philippines Culinary Tourism Market Report
| Attribute | Details |
|---|---|
| Forecast Period | 2025 to 2035 |
| Historical Data Available for | 2020 to 2024 |
| Market Analysis | USD Million for Value |
| Key Region Covered | Asia |
| Key Countries Covered | Philippines |
| Key Segments Covered | Activity Type, Booking Channel, Tour Type, Region |
| Key Companies Profiled | Rio Travel and Tour; Viator Travelers; Leisure Pro Journeys; Yolo Travel Philippines; Blue Horizons Travel and Tours, Inc.; CTPH TOUR; Saferide Car Rental; Explore Manila Tours; Poochie’s Kitchen; Joner Germina; Other (as per request) |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
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**Market Segments by Service Type
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business travel
corporate travel
**Market Segments by Booking Mode
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offline booking
**Regional Outlook
Geographically, the worldwide Travel Agencies market is classified into four major regions including North America (the US and Canada), Europe (UK, Germany, France, Italy, Spain, and Rest of Europe), Asia-Pacific (India, China, Japan, and Rest of Asia-Pacific), and Rest of the World (Latin America and the Middle East and Africa (MEA)).
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According to a research report published by Spherical Insights & Consulting, the Global Travel Medical Insurance Market Size is Expected to Hold a Significant Share by 2033, at 12.6% CAGR from 2023 to 2033.
Comprehensive historical analysis of global market for Travel Medical Insurance Market has thoroughly analyzed in this report. It offers data and insights from 2019-2022, and provides extensive market forecasts from 2023-2033 by region/country and subsectors. It covers the price, sales volume, revenue, historical growth, gross margin, and future outlooks for the Global Travel Medical Insurance Market.
Get a Sample PDF Brochure: https://www.sphericalinsights.com/request-sample/5608
Market Overview
A specific type of insurance plan that covers medical costs and health-related problems that may arise while traveling is called travel medical insurance. Emergency medical care, hospital stays, and occasionally other services like emergency evacuation and repatriation are covered under travel medical insurance. A number of factors, such as increased international travel, rising healthcare costs, and growing awareness of the medical risks associated with travel, are propelling the market for travel medical insurance.
Demand is further increased by changing travel preferences, such as longer and more adventurous trips, and global health concerns. Demand may be decreased, though, if consumers are not fully aware of the advantages and existing coverage offered by credit cards or other insurance policies.
The global travel medical insurance market is witnessing robust growth
• The rising number of international travelers, students, and digital nomads
• Increasing demand for comprehensive and flexible travel insurance coverage, especially post-pandemic
• Technological innovations in digital policy issuance, telemedicine services, and AI-powered claims processing
Browse key industry insights spread across 230 pages with 112 Market data tables and figures & charts from the report on the Global Travel Medical Insurance Market Size, Share, and COVID-19 Impact Analysis, By Type (Single-Trip Travel Insurance, Multi-Trip Travel Insurance, Student travel insurance, Others), By Distribution Channel (Insurance Companies, Insurance Brokers, Banks, Travel Agencies, Others), By Application (International Travel, Domestic Travel, High-Risk Travel, Business Travel), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033
Over the course of the projection period, the single-trip travel insurance sector is anticipated to maintain the greatest market share.
The market for travel medical insurance is categorized by kind, including student travel insurance, multi-trip travel insurance, and single-trip travel insurance. Over the course of the forecast period, the single-trip travel insurance segment is anticipated to hold the greatest market share among these. Its popularity among travelers who prefer coverage for single, one-time journeys over multi-trip plans is the reason for its domination. Single-trip insurance is a popular option for casual travelers, whether on business or vacation, because it is easy to use and customized for particular trips.
Over the forecast period, the insurance firms category is expected to have the largest market share.
The market for travel medical insurance is separated into banks, insurance brokers, travel agencies, insurance firms, and others based on the distribution channel. The insurance firms sector is expected to have the largest market share among these over the forecast period. Because insurance firms are the primary organization in charge of underwriting, overseeing, and offering travel medical insurance policies, the insurance companies section can be attributed to them.
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Over the course of the forecast period, North America is anticipated to hold the greatest share of the travel medical insurance market.
Over the course of the forecast period, North America is anticipated to hold the greatest share of the travel medical insurance market. The demand for travel medical insurance is fueled by the region’s high rates of both domestic and international travel as well as its high healthcare costs. Additionally, its significant market share is a result of both high discretionary incomes and a thorough understanding of the advantages of travel insurance.
Over the course of the forecast period, the travel medical insurance market is expected to develop at the greatest CAGR in Asia Pacific. The demand for travel medical insurance is fueled by the region’s fast economic development, expanding middle class, and rising disposable incomes, all of which increase both domestic and international travel. The market is growing as a result of growing infrastructure for travel and growing awareness of the importance of travel medical insurance.
Leading players of Travel Medical Insurance Market including:
• Care Insurance
• AwayCare
• Bajaj Allianz Travel Insurance
• Gerry’s Visa
• TME TRAVEL INSURANCE
• Razi Insurance Company
• INF
• Easy Insurance India
• Just Travel Cover
• National Insurance Travel Insurance
• BSI Insurance Broker Ltd.
• New India Assurance Travel Insurance
• Medical Travel Compared Limited
• Europ Assistance South Africa
• Others
Market Challenges: Travel Medical Insurance Market
High Policy Premiums for Pre-Existing Conditions
>>Travelers disclosing pre-existing health issues often face steep premium hikes sometimes over 1,000% which can deter purchase or push customers toward inadequate or uninsured alternatives
Lack of Consumer Awareness and Misunderstanding of Coverage
>>Many travelers misunderstand policy details and exclusions, which leads to dissatisfaction and lack of trust when claims are denied. Clarity around coverage terms remains a significant barrier.
Volatility in Travel Patterns Due to Global Disruptions
>>Geopolitical events, natural disasters, or health crises result in trip cancellations or suspensions-impacting claim frequency and affecting insurer profitability.
Regulatory Complexities in Cross-Border Coverage
>>Cross-border underwriting involves navigating multiple data protection regimes, immigration-specific mandates (e.g. visa health coverage in Schengen), and compliance layers, complicating policy issuance and claims handling.
Rise in Fraudulent Claims and Benefit Abuse
>>Particularly in Asia-Pacific, AI-generated falsifications and fraudulent claims have increased, raising investigation cycles and operational costs even as insurers adopt AI-based detection tools.
Distribution Channel Fragmentation
>>While online aggregators, intermediaries, and embedded insurance platforms are expanding reach, they also fragment the customer journey and make consistent customer experience difficult to manage across channels.
Research Objectives: Travel Medical Insurance Market
To Analyze Market Size and Growth Trends
>>Assess the current market valuation and project future growth, identifying key drivers contributing to market expansion across global regions.
To Identify Key Market Segments by Policy Type, Distribution Channel, and End User
>>Segment the market by insurance type (single trip, annual multi-trip, long stay), distribution mode (insurance companies, brokers, online aggregators), and customer group (individuals, corporates, students, seniors, etc.).
To Evaluate the Impact of Technological Innovations on the Insurance Experience
>>Examine how digital platforms, AI-based underwriting, telemedicine integration, and blockchain claims processing are enhancing customer engagement and reducing operational costs.
To Understand Consumer Behavior and Purchasing Trends
>>Explore consumer awareness, preferences, and decision-making patterns regarding travel medical insurance, especially post-COVID-19 and amid global travel uncertainties.
Recent Developments
In June 2024, Collinson, a global leader in the travel experience and loyalty programs, announced a partnership with World Nomads, a global travel insurance provider, which include the launch of a new Annual Multi-Trip (AMT) product in the UK and Ireland.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the travel medical insurance market based on the below-mentioned segments:
Global Travel Medical Insurance Market, By Type
• Single-Trip Travel Insurance
• Multi-Trip Travel Insurance
• Student travel insurance
• Others
Global Travel Medical Insurance Market, By Distribution Channel
• Insurance Companies
• Insurance Brokers
• Banks
• Travel Agencies
• Others
Global Travel Medical Insurance Market, By Application
• International Travel
• Domestic Travel
• High-Risk Travel
• Business Travel
Regional Segment Analysis of the Global Travel Medical Insurance Market
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
What’s covered in the report?
1. Overview of the Travel Medical Insurance Market.
2. The current and forecasted regional (North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa) market size data for the Travel Medical Insurance Market, based on segment.
3 Travel Medical Insurance Market trends.
4. Travel Medical Insurance Market drivers.
5. Analysis of major company profiles.
PESTLE Analysis: Travel Medical Insurance Market
Political Factors
Government travel policies and healthcare mandates
>>Many countries now require proof of travel medical insurance for visa approval, especially in the Schengen area, UAE, and parts of Asia. This drives demand but also adds pressure on insurers to align with local healthcare frameworks.
Economic Factors
Fluctuating exchange rates and inflation
>>Currency volatility affects claim reimbursements across borders. Insurers often need to adjust pricing for global consistency.
Social Factors
Rising health awareness among travelers
>>Travelers are increasingly aware of the health risks associated with international trips, especially post-pandemic.
Technological Factors
Digitalization and mobile platforms
>>The availability of app-based policy purchases, digital claim submissions, and telehealth integration makes travel medical insurance more accessible and efficient.
Legal Factors
Cross-border compliance and consumer protection laws
>>Different countries have unique rules on healthcare, insurance disclosures, and data privacy, making global policy standardization difficult.
Environmental Factors
Climate change and natural disasters
>>Frequent natural calamities like floods, storms, and wildfires increase claims and impact travel safety raising insurer liabilities.
Table of Content (TOC)
• Introduction
1. Objectives of the Study
2. Market Definition
3. Research Scope
• Research Methodology and Assumptions
• Executive Summary
• Premium Insights
1. Porter’s Five Forces Analysis
2. Value Chain Analysis
3. Top Investment Pockets
1. Market Attractiveness Analysis By Product Type
2. Market Attractiveness Analysis By Type
3. Market Attractiveness Analysis By Segment Type
4. Market Attractiveness Analysis By Region
4. Industry Trends
• Market Dynamics
1. Market Evaluation
2. Drivers
1. Increasing development in sector
3. Restraints
4. Opportunities
5. Challenges
• Global Travel Medical Insurance Market Analysis and Projection, By Product Type
• Global Travel Medical Insurance Market Analysis and Projection, By Type
• Global Travel Medical Insurance Market Analysis and Projection, By Segment Type
• Global Travel Medical Insurance Market Analysis and Projection, By Regional Analysis
1. Segment Overview
2. North America
1. U.S.
2. Canada
3. Mexico
3. Europe
1. Germany
2. France
3. U.K.
4. Italy
5. Spain
4. Asia-Pacific
1. Japan
2. China
3. India
5. South America
1. Brazil
6. Middle East and Africa
1. UAE
2. South Africa
• Global Travel Medical Insurance Market-Competitive Landscape
1. Overview
2. Market Share of Key Players in the Global Travel Medical Insurance Market
1. Global Company Market Share
2. North America Company Market Share
3. Europe Company Market Share
4. APAC Company Market Share
3. Competitive Situations and Trends
1. Coverage Launches and Developments
2. Partnerships, Collaborations, and Agreements
3. Mergers & Acquisitions
4. Expansions
• Company Profiles
1. Company1
1. Business Overview
2. Company Snapshot
3. Company Market Share Analysis
4. Company Coverage Portfolio
5. Recent Developments
6. SWOT Analysis
2. Company2
1. Business Overview
2. Company Snapshot
3. Company Market Share Analysis
4. Company Coverage Portfolio
5. Recent Developments
6. SWOT Analysis
3. Company3
1. Business Overview
2. Company Snapshot
3. Company Market Share Analysis
4. Company Coverage Portfolio
5. Recent Developments
6. SWOT Analysis
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About the Spherical Insights & Consulting
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Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company’s mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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The global travel insurance market is anticipated to generate revenue of US$ 51.67 billion in 2024 and is forecasted to grow at a CAGR of 7.2%, reaching US$ 103.56 billion by 2034.
The rise in global tourism directly influences the demand for travel insurance. These policies provide financial protection against a range of travel-related risks, including lost passports, stolen baggage, and misplaced funds. Additionally, they cover trip cancellations initiated by travelers. Beyond coverage, travel insurance providers also offer support services such as assisting policyholders with claims and helping them locate medical facilities during emergencies.
For More Insights into the Market, Request a Sample of this Report:
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Key Growth Drivers
1. Rebound in Global Travel: As international and domestic tourism resumes post-pandemic, demand for travel insurance rises in tandem.
2. Risk Mitigation Needs: Travelers increasingly seek safety nets against flight disruptions, medical emergencies, and baggage loss.
3. Adventure and Niche Travel: Growth in niche travel activities, such as scuba diving or trekking, fuels demand for specialized insurance policies.
4. Corporate Travel Programs: Companies are seeking coverage for business travel-including lost luggage, evacuation, and medical care for employees abroad.
5. Regulatory Mandates: Visa rules and immigration policies-especially in Europe-drive demand for travel insurance as a prerequisite.
6. Digital Distribution & Tech Integration: Online travel agents and booking portals integrating insurance offerings simplify buying and expand market reach.
7. Technological Innovation: Adoption of AI, data analytics, blockchain, and IoT accelerates market transformation through faster claims and personalization.
Challenges & Restraining Factors
1. Policy Complexity & Awareness Gaps: Many travelers lack understanding of policy features and exclusions, limiting adoption.
2. Premium Sensitivity: High costs for robust plans may deter budget-conscious consumers.
3. Geopolitical & Climate Threats: Escalating travel risks prompt demand but also raise insurance costs.
Browse Full Report: https://www.factmr.com/report/travel-insurance-market
Country-wise Insights
North America is poised to capture approximately 21.9% of the global travel insurance market share in 2024, with projections indicating an increase to 24.7% by 2034. Europe-both Western and Eastern-also commands a substantial share, driven largely by Schengen visa requirements, which mandate travel insurance for entry.
In the United States, the rise of international business expansion is fueling a surge in corporate travel. As a result, companies are increasingly investing in travel insurance for employees. This type of coverage is becoming a vital business asset, helping organizations manage potential disruptions such as medical emergencies, trip cancellations, and lost baggage, thereby safeguarding both operations and employee welfare.
Competitive Landscape
The travel insurance market is witnessing intensified competition as key players broaden their portfolios to cater to evolving traveler needs. Companies are launching specialized insurance plans tailored for adventure sports, extended trips, and niche travel categories-strategies aimed at increasing profitability and attracting a wider customer base.
In July 2024, World Nomads, a leading global travel insurance provider, introduced a new Annual Multi-Trip (AMT) package for travelers in the United Kingdom and Ireland. This launch followed a strategic underwriting partnership with Collinson, one of the UK’s premier travel insurance firms, dedicated to simplifying travel through accessible, reliable protection solutions.
Earlier, in March 2024, TATA AIG General Insurance unveiled its ‘Travel Guard Plus’ plan-designed to accommodate both single and multiple international trips within a year. Notably, this product already covers nearly one-third of India’s international travel insurance premiums, underscoring its strong market impact and popularity among frequent travelers.
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Segmentation of Travel Insurance Market Research
By Coverage Type :
Single Trips
Annual/Multiple Trips
By Trip Type :
Domestic
International
By End-use Application :
Individual
Group
By Region :
North America
Western Europe
Eastern Europe
Latin America
East Asia
South Asia & Pacific
Middle East & Africa
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https://www.factmr.com/report/tourism-market
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https://www.factmr.com/report/waste-management-market
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