Germany Travel Insurance Market is Poised to Travel Fast at a Robust CAGR of 29.4% and Reach Euro 623.9 Million By 2032: Astute Analytica [Yahoo! Finance Canada]
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Source: Yahoo! Finance Canada
Intermediaries dominate sales but face competition and margin pressures from online insurance providers. New Delhi, May 06, 2024 (GLOBE NEWSWIRE) -- According to Astute Analytica, the Germany travel insurance market is experiencing significant growth, projected to increase from Euro 61.4 million in 2023 to Euro 623.9 million by 2032, representing a CAGR of 29.4% from 2024-2032. The German travel insurance market is experiencing a surge in popularity. Wherein, the COVID-19 pandemic has heightened travelers' awareness of the benefits of travel insurance, with its ability to provide financial protection in case of unexpected disruptions. Furthermore, government regulations in Germany mandate travel insurance for visa applications, further propelling market growth. This demand is fueled by travelers' concerns about trip cancellations and medical emergencies, both significant reasons why Germans choose travel insurance. In fact, a staggering 60% of German travelers opt for this added s
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