The long stay travel insurance market is set for steady growth in the coming years. According to The Business Research Company, the market is forecast to rise from $3.57 billion in 2024 to $3.83 billion in 2025.
This represents a compound annual growth rate (CAGR) of 7.5%. By 2029, the market is expected to reach $5.04 billion, growing at a CAGR of 7.1%.
The growth is largely fueled by increasing international student enrollments, opportunities for overseas work, outbound tourism, and retirement relocations.
Looking ahead, the market is expected to benefit from several trends. These include wider adoption of digital insurance platforms, stricter visa regulations, more flexible insurance plans, and the rise of remote working abroad.
Among all factors, international student mobility remains a key driver of demand.
Related topics:
- Home and Contents Insurance Premiums Surge by $700 Amid Extreme Weather
- CUMIS to Exit Alberta Home and Auto Insurance Market Amid Rising Costs
- Covered Launches 2025 Home Insurance Guides for Buyers and Professionals
