Reportstack has announced a new market research publication on Travel Insurance Market in the APAC Region, which finds the booming Chinese economy is aiding this market. The findings are for the forecast period 2014-2018.
As per research findings, the travel insurance market in China is growing at a CAGR of 14.64percent. This is due to several growth factors like increasing tourism and business travels, which is leading to the demand for travel insurance among people. In addition, the booming Chinese economy is helping in boosting the demand for various travel related insurance products.
The other key leading countries in this region include Japan, India, Indonesia, Australia, South Korea, Taiwan, New Zealand, Hong Kong and Singapore.
Speaking on this occasion, one of the senior analyst and co-author of this report said, “In the Travel Insurance market in the APAC region, travel agents contributed US$1.49 billion in 2013, and this is expected to increase to US$2.81 billion by 2018, growing at a CAGR of 13.47 percent. Banks and Airline companies also constituted a significant portion to this income generation and the market will continue to remain the same during the forecast period.”
To determine the scenario for these vendors in the next 3-4 years, analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
To view the table of contents and know more details please visit Booming Chinese Economy aiding the Travel Insurance Market in the APAC Region report.
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