Middle East & Africa Travel Insurance Market Report 2025: Country Insights, Competitive Landscape, Forecasts & Opportunities, 2020-2030

Dublin, Feb. 20, 2025 (GLOBE NEWSWIRE) -- The "Middle East & Africa Travel Insurance Market, By Country, Competition, Forecast & Opportunities, 2020-2030F" report has been added to ResearchAndMarkets.com's offering.

The Middle East & Africa Travel Insurance Market was valued at USD 2.85 Billion in 2024, and is expected to reach USD 6.87 Billion by 2030, rising at a CAGR of 15.80%

The Middle East & Africa (MEA) travel insurance market is experiencing substantial growth driven by a combination of economic, demographic, and technological factors. As the region's economy diversifies and international travel increases, the demand for travel insurance has surged, with travelers increasingly seeking financial protection from unforeseen events during their trips. The market is categorized into different types of travel insurance plans, including single-trip and annual multi-trip travel insurance.



Each type serves a specific need, with single-trip plans catering to one-time travelers and multi-trip plans appealing to frequent travelers. Distribution channels for these insurance products are diverse, encompassing insurance companies, intermediaries, banks, and brokers, which enable consumers to access policies through a range of platforms. The end-user segments are similarly varied, with senior citizens, education travelers, business travelers, and family travelers being the key groups.

In terms of regional dominance, countries such as South Africa, Saudi Arabia, UAE, and Turkey are significant contributors to the market. These nations are witnessing an uptick in travel, prompting increased demand for insurance services to safeguard against risks during travel. With the rising importance of healthcare and safety, along with growing awareness about the value of travel insurance, the market is expected to grow robustly through the forecast period. The increasing adoption of digital platforms, coupled with a shift toward policy personalization, are expected to be pivotal in shaping the market's future trajectory.

Regulatory Hurdles and Compliance Issues

The MEA region's travel insurance market faces challenges related to regulatory frameworks, which can vary significantly across different countries. Insurance regulations differ from one nation to another, and in some cases, they may be overly complex or restrictive, making it difficult for insurance companies to operate seamlessly across borders. This presents an obstacle for insurers seeking to expand their operations or introduce new products to the market. Additionally, some countries may have stringent compliance requirements for offering travel insurance, which may involve expensive licensing processes or burdensome reporting obligations. These regulatory barriers may deter new entrants and slow down market growth.

Customization and Personalization of Policies

A significant trend in the MEA travel insurance market is the increasing demand for customized policies that meet the unique needs of different types of travelers. Whether it's a senior citizen looking for medical coverage or a business traveler needing emergency assistance, consumers are seeking tailored insurance plans that provide more relevant coverage. Insurers are responding to this trend by offering personalized packages, where travelers can select the coverage, they need based on factors such as their destination, travel duration, and the activities they plan to engage in. The use of data analytics is helping insurers better understand the specific needs of their customers and offer more appropriate coverage options.

Increased Integration of Digital Platforms

Digitalization is reshaping the way consumers interact with travel insurance providers. Online platforms, mobile apps, and comparison websites are becoming increasingly popular, allowing consumers to easily compare different insurance plans and purchase policies on-the-go. The integration of AI chatbots and automated claims processing is also enhancing the customer experience, making it faster and more efficient to resolve claims. As the preference for digital solutions continues to rise, insurers are investing in technology to improve their offerings and streamline the customer journey.

Inclusion of Health Coverage and Emergency Assistance

The inclusion of health coverage and emergency assistance services in travel insurance plans is a growing trend, particularly due to the ongoing concerns about health risks while traveling. The COVID-19 pandemic has highlighted the importance of having comprehensive health insurance when traveling abroad. Many insurers are now including coverage for medical emergencies, COVID-19-related incidents, and evacuation services as part of their travel insurance offerings. This trend is expected to continue, with insurers providing more inclusive coverage that addresses the health and safety needs of travelers.

Country Insights

The UAE remains the leading country in the Middle East and Africa (MEA) travel insurance market due to several key factors that contribute to its dominance in the tourism and insurance sectors. The UAE has a robust and diversified tourism industry, attracting millions of international visitors each year to destinations such as Dubai and Abu Dhabi. With world-class attractions, luxury shopping, business hubs, and a thriving hospitality sector, the UAE sees a significant influx of both leisure and business travelers, driving the demand for travel insurance. Additionally, the UAE boasts high disposable incomes, which allows residents and travelers to invest in comprehensive travel insurance products.

The region's affluent population is more likely to prioritize travel insurance for its benefits, including medical coverage and trip cancellation protection, thus contributing to the growth of the market. The UAE is also recognized for its advanced digital infrastructure, making it easier for consumers to access and purchase travel insurance through online platforms. The widespread use of smartphones, mobile apps, and internet services enables insurers to provide seamless digital experiences, increasing the accessibility and convenience of insurance policies. This digital transformation, coupled with the country's high standards of service, positions the UAE as a leader in the MEA travel insurance market.

Key Attributes:

Report Scope:

Key Market Players

• AXA Insurance
• Chubb Insurance
• Oman Insurance Company
• RSA Insurance
• Union Insurance
• Tawuniya Insurance Company
• AIG Insurance
• Qatar Insurance Company
• Doha Insurance Company
• KIB Takaful Insurance Company

Middle East & Africa Travel Insurance Market, By Distribution Channel:

• Insurance companies
• Insurance Intermediaries
• Banks
• Insurance Brokers
• Others

Middle East & Africa Travel Insurance Market, By Type:

• Single-Trip Travel Insurance
• Annual Multi-Trip Travel Insurance

Middle East & Africa Travel Insurance Market, By End User:

• Senior Citizens
• Education Travelers
• Business Travelers
• Family Travelers
• Others

Middle East & Africa Travel Insurance Market, By Country:

• South Africa
• Saudi Arabia
• UAE
• Turkey
• Kuwait
• Egypt

For more information about this report visit https://www.researchandmarkets.com/r/x33nn4

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• Middle Eastern & African Travel Insurance Market

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