Increased travel insurance sales show confidence in overseas travel returns

Global adventure travel insurance provider World Nomads has seen a 49 per cent increase in policy sales in January 2023 compared with 2022. These results, alongside its recent survey, found that 77 per cent of UK travellers said that there is nothing stopping them from booking travel in the year ahead confirm that confidence in overseas travel is back.

When asked how many trips they plan on taking in the next 12 months, 33 per cent of respondents said they intended to travel two to three times, while 15 per cent said they would travel more than six.

New and adventurous travel experiences were also popular, with 66 per cent saying they planned to travel to a new destination this year.

The primary motivations for travel were revealed too, and they were ‘relaxation and disconnection’ (31 per cent) and ‘outdoor adventure’ (23 per cent).

Jonathan Frankham, General Manager UK and Europe of World Nomads, said: “Our insights tell us that Brits have well and truly cast the shackles off post-pandemic.

“With travel having been a point of concern for many in recent years, it’s highly reassuring to see that Brits are feeling more confident in planning their next overseas trip and are also looking to World Nomads to travel smarter and more safely.”

The importance of insurance

In addition, year-on-year post-pandemic searches for travel insurance policies have also risen. In January 2023, there was a 73 per cent increase in quotes from UK residents and a 170 per cent increase when European residents were included.

The top three destinations quoted by Brits during January 2023 were Australia, Thailand and the United States, showing a desire for adventure in long-haul destinations, particularly those that were closed to travellers during the pandemic. This is reflected in significant increases for destinations such as Vietnam and Cambodia (1,316 per cent), the Philippines (1,009 per cent), Japan (921 per cent), and Morocco (857 per cent).