From Baby Boomers to Generation Z, there is one thing that every generation dreams of doing—traveling the world. Whether they’re looking for the retirement trip of a lifetime, the study abroad trip they’ll never forget or the best family vacation ever, traveling internationally is something that people of all ages can enjoy.
More than 1.34 billion people traveled internationally in 2017, up 7.2% from 2016, and those numbers are continuing to rise. Across every generation, more people are crossing international lines to visit loved ones and exotic locations around the world.
Furthermore, social media is making international travel more desirable than ever. When people see pictures of exotic locations, especially places their friends are visiting, 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.
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 like Russia, the U.S. and E.U. already require proof of travel medical insurance to obtain certain visas and more countries are seriously considering making it mandatory for all visitors.
In this context, 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.
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