UAE Travel Insurance Market: Trip Type, Traveler Type & Forecast 2028
The UAE travel insurance market is poised for substantial growth, fueled by rising tourism, increased travel spending, and growing awareness about travel protection. The market is projected to expand from $565.7 million in 2024 to $1,380.2 million by 2030, reflecting a CAGR of 16% from 2025 to 2030.
With more UAE residents traveling domestically and internationally, the demand for single-trip, multi-trip, and long-stay travel insurance is increasing. Additionally, digitalization and innovative insurance offerings from companies such as AXA, Oman Insurance, and AIG are further accelerating market growth.
Market Trends:
- Growing Tourism Industry: Increased domestic and international travel boosts demand for travel insurance.
- Higher Travel Spending: UAE citizens spent $21.78 billion on travel and tourism in 2021.
- Rising Demand for Digital Insurance: Insurtech platforms are making it easier to buy travel insurance online.
- Increase in Business & Family Travel: Business travelers and families are purchasing travel coverage more frequently.
- Flexible Insurance Plans: Insurers offer personalized plans, including COVID-19 coverage and emergency medical assistance.
Market Challenges:
- Lack of Awareness Among Travelers: Some travelers still do not consider insurance necessary.
- Regulatory Changes: Government policies can impact premium rates and coverage.
- Competitive Pricing Pressure: Insurers must offer competitive premiums while maintaining profitability.
- Claims Processing Delays: Some travelers face longer claim settlement periods, affecting customer satisfaction.
- Economic Uncertainty: Inflation and fluctuating exchange rates may impact premium affordability.
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๐https://www.marketinsightsresearch.com/request/download/9/56343/UAE-Travel-Insurance-Marketย
Dominating Region:
- Dubai leads the UAE travel insurance market, driven by its status as a major tourism and business hub.
Fastest-Growing Region:
- Abu Dhabi is emerging as the fastest-growing region due to increasing government initiatives in tourism and financial services.
Global Market – Regional Analysis:
- North America: Strong travel insurance adoption due to regulatory requirements.
- Europe: High penetration rates for multi-trip and long-stay travel insurance.
- Asia-Pacific: Rapid growth in business travel insurance and digital insurance platforms.
- Middle East & Africa: UAE leads in travel insurance adoption, followed by Saudi Arabia and Qatar.
- South America: Rising travel insurance awareness among international tourists.
๐๐๐ ๐ก๐ผ๐ ๐๐ฎ๐๐ฒ๐๐ ๐๐ฑ๐ถ๐๐ถ๐ผ๐ป ๐ผ๐ณ UAE travel insurance market ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐ ๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐
https://www.marketinsightsresearch.com/report/buy_now/9/56343/UAE-Travel-Insurance-Marketย
Market Segmentation:
ย Trip Type:
- Single-Trip Travel Insurance
- Annual Multi-Trip Travel Insurance
- Long-Stay Travel Insurance
ย Mode of Purchase:
- Insurance Companies
- Insurance Agents/Brokers
- Others (Insurtech Companies, Third Party, etc.)
ย Traveler Type:
- Senior Citizens
- Education Travelers
- Business Travelers
- Family Travelers
- Independent Travelers
ย Travel Type:
- Domestic Travel
- International Travel
ย Region:
- Dubai
- Abu Dhabi
- Sharjah
- Ajman
- Rest of UAE
Key Market Players:
- Orient Insurance PJSC
- Alliance Insurance P.S.C
- American International Group, Inc. (AIG)
- Royal & Sun Alliance Insurance (Middle East)
- AXA Insurance (Gulf)
- Oman Insurance Company P.S.C. (“Sukoon”)
- Islamic Arab Insurance Company
- HSBC UAE Middle East Limited
- Al Sagr National Insurance Company (PSC)
- Dubai National Insurance & Reinsurance P.S.C.
๐๐ฒ๐ ๐ญ๐ฌ-๐ฎ๐ฑ% ๐๐ถ๐๐ฐ๐ผ๐๐ป๐ ๐ผ๐ป ๐๐บ๐บ๐ฒ๐ฑ๐ถ๐ฎ๐๐ฒ ๐ฝ๐๐ฟ๐ฐ๐ต๐ฎ๐๐ฒ
https://www.marketinsightsresearch.com/request/discount/9/56343/UAE-Travel-Insurance-Marketย
Future Outlook:
The ย expected to continue expanding, driven by:
- Higher travel spending by UAE residents.
- Government initiatives to promote tourism.
- Growing adoption of online travel insurance.
- Personalized coverage options, including COVID-19 protection.
- New market entrants offering competitive pricing and digital solutions.
As UAE remains a global travel hub, the travel insurance sector will play a crucial role in ensuring financial security and medical assistance for travelers. With ongoing technological advancements and customer-focused insurance solutions, the UAE travel insurance market is set for sustained growth.
