Business travel accident insurance market to hit $26b by 2033

This represents a compound annual growth rate of 23.3%.

The global business travel accident insurance market was valued at $3.2b in 2023 and is projected to reach $26.1b by 2033, according to a report by Allied Market Research. 

This represents a compound annual growth rate of 23.3% between 2024 and 2033.

Growth is expected to be driven by the increase in global business travel, greater awareness of travel risks, and stronger corporate focus on employee well-being. 

Advancements in technology and tighter corporate travel policies are also seen as factors supporting demand.

The report noted, however, that high costs and limited awareness of business travel accident insurance remain barriers to wider adoption.