TechSci Press Release

Blooming tourism industry and growing spending on travel protection plans is expected to drive the Saudi Arabia travel insurance market throughout the forecast period. According to TechSci Research report,  “ Saudi Arabia Travel Insurance Market  By Insurance Cover (Single-Trip Travel Insurance, Multi-Trip Travel Insurance, Others) By Sales Medium (Insurance Aggregators/ Agents, Insurance Companies, Online, Others) By Age Group (Senior Citizens, Adult, Student, Children, Others), By Region, Company Forecast & Opportunities, 2026 ” , The Saudi Arabia travel insurance market is expected to grow at a steady rate during the forecast period. Travel insurance covers all the risks covered while traveling from one place to another. It covers medical expenses, flight cancellations, lost luggage, loss of passport, death of the insured person, among others. The number of risks covered in a travel insurance policy depends on the requirements of travelers and the policy traveler c...

Saudi Arabia travel insurance market is expected to grow at a steady rate during the forecast period. Travel insurance provides the passenger with the reassurance of any monetary loss recovery during the trip which elevates the mind of the passenger. The rising per capita income of the residents in Saudi Arabia is enabling them to opt for travel insurance policies during traveling. The oil industry is the major revenue-generating industry in Saudi Arabia and the government is trying to diversify and develop other sectors which are influencing the economic growth of the region. The surge in industrialization and the presence of a plethora of job opportunities are attracting a large number of tourists into Saudi Arabia in search of quality living standards. Travel insurance eases the financial burden over an individual and helps in paying the bills and covers financial losses that may occur during the trip. The rise in awareness among the consumers regarding the benefits offered by trav...