The thirst for adventure is alive and well, and it’s driving a surge in travel insurance demand, particularly for European destinations. A new study from World Nomads, a leading travel insurance specialist, reveals that sales of travel insurance policies for European destinations nearly doubled (+99%) over the summer of 2024 compared to the same period in 2023. This surge reflects a renewed appetite for travel, coupled with a heightened awareness of the importance of protecting those precious vacation plans.
The study pinpoints Turkey and Montenegro as the most popular destinations for UK travelers this year, experiencing a staggering 225% and 127% increase in travel insurance sales, respectively. These two countries are captivating travelers with their unique blend of affordability, adventure, and cultural experiences, offering exciting alternatives to traditional European hotspots.
Turkey’s allure stems from its rich historical sites, breathtaking natural landscapes, and surprisingly affordable prices. Cities like Istanbul, with its bustling markets and iconic architecture, and coastal destinations such as Bodrum and Antalya, boasting pristine beaches and resorts, have become popular choices for adventure seekers.
Meanwhile, Montenegro, with its stunning Adriatic coastline, UNESCO World Heritage Sites, and charming old towns, has emerged as a hidden gem in Europe. The country’s growing reputation as an affordable yet off-the-beaten-path destination for those seeking adventure, nature, and history is reflected in the significant increase in travel insurance sales.
Spain, a long-time favorite for UK travelers, continues to hold its position as a go-to destination for those seeking sun, diverse landscapes, and rich cultural experiences. The country saw a 43% increase in travel insurance policy sales, highlighting its enduring appeal.
Beyond Europe, World Nomads reports an increase in demand for travel insurance policies covering Asian destinations, particularly China (+86%) and Japan (+23%). These destinations have benefited from updated entry requirements, including expanded visa-free policies, making travel more accessible to international visitors.
China offers a captivating blend of modern cities like Shanghai and Beijing, coupled with ancient cultural landmarks such as the Great Wall and Terracotta Warriors. With a favorable currency exchange rate, the cost of traveling in China has become more affordable, attracting an increasing number of Brits eager to explore the region.
Japan, renowned for its unique fusion of ancient traditions and modern innovation, continues to be a desirable destination, driven by recent currency fluctuations and simplified travel policies. The popularity of Tokyo and Kyoto, alongside Japan’s stunning landscapes and cultural experiences, has made it an appealing choice for those seeking an exotic yet relatively accessible Asian destination.
The growing popularity of these destinations, both in Europe and Asia, underscores a shift in traveler preferences. Brits are increasingly opting for destinations that offer a balance of affordability and adventure, without the need for extensive planning.
As travel restrictions ease and more destinations become accessible, World Nomads’ data offers a glimpse into the evolving preferences of British travelers. With the demand for European destinations on the rise, particularly in countries like Turkey and Montenegro, and growing interest in Asian destinations such as China and Japan, the future of travel looks promising for those seeking both adventure and affordability.
The increasing awareness of the need for comprehensive travel insurance is another notable trend. The ongoing impact of COVID-19 and other global uncertainties has prompted travelers to prioritize protecting their trips against unforeseen disruptions. Jonathan Frankham, General Manager for World Nomads, UK and Europe, emphasizes the importance of choosing the right travel insurance policy.
“While the trends around destinations generally point to travelers looking for increased value by opting for shorter haul destinations in Europe, purchasing the right travel insurance remains a prudent financial decision to protect that investment,” he says.
Frankham explains that travelers need to carefully assess their individual travel habits and select the most appropriate policy. For example, a single-trip policy might offer flexibility for those taking shorter vacations, whereas an annual multi-trip (AMT) policy could be more cost-effective for frequent travelers, providing extended coverage across multiple trips.
Choosing the right travel insurance policy can make all the difference when unexpected events occur. World Nomads offers a range of tailored policies designed to meet the needs of modern travelers. Whether it’s protection against trip cancellations, medical emergencies, or lost luggage, ensuring that the correct policy is in place helps travelers avoid financial risks during their trips. World Nomads emphasizes that selecting the appropriate policy depends on one’s travel frequency, destination, and activities planned. For example, adventure seekers visiting Turkey or Montenegro may need special coverage for activities like hiking, water sports, or cultural excursions, while those visiting Asia may prioritize coverage for medical emergencies or trip interruptions.
As travel becomes more accessible and adventurous, the importance of travel insurance continues to grow. By choosing the right policy, travelers can safeguard their trips, ensuring that unexpected events don’t derail their carefully planned adventures.
