International Medical Group® (IMG®), an award-winning global insurance benefits and assistance services company, has released the results of its annual Travel Outlook Survey that surveyed IMG customers about their 2023 travel plans. The survey reveals 44% of respondents plan to travel internationally three or more times throughout the year, a 16% increase compared to 2022 survey results.
“It’s clear that people’s desire to travel, whether internationally or domestically, is not slowing down in 2023,” said Steve Paraboschi, IMG President and CEO. “After the huge rebound in travel we saw in 2022, IMG is well-positioned for travel to continue to increase in 2023 with our market-leading products and customer service.”
Travel Outlook Survey Findings:
Travelers are eager to travel sooner in 2023 than they were in 2022.
- 72% plan to take their next international trip before August 2023
- 41% increase compared to 2022 survey results
In 2023, travelers are preparing to spend more money than they typically have in the past.
- 35% plan to spend more on travel in 2023 than they did in 2022
International and/or emergency medical coverage continues to be the most important insurance benefit to travelers in 2023, while coverage for trip cancellation and travel delay is close behind.
- Top concerns travelers have while planning or taking a trip:
- Getting sick or having an accident while at their destination
- Needing to cancel their trip before departure
- Issues getting to or from their destination
- Needing to interrupt a trip while at their destination
“IMG has been a respected leader in the travel medical insurance market for dozens of years, but interest in our iTravelInsured plans, which provide trip cancellation, trip interruption, and travel delay benefits, has never been higher,” said Paraboschi.
Many travelers plan to travel domestically in 2023, but a portion of travelers don’t traditionally invest in travel insurance with trip cancellation and/or travel delay benefits for such trips.
- 89% plan to travel domestically in 2023
- 48% plan to travel domestically 3+ times in 2023
- Only 19% purchased travel insurance with trip cancellation and/or travel delay benefits for at least 1 domestic trip in 2022
“These results show that there is a great need for travelers to better understand the importance of travel insurance, even for their domestic trips,” said Amanda Winkle, IMG Chief Operating Officer. “Travelers are planning to spend more on their trips this year and are concerned about the ability to cancel those trips, which is all the more reason why travelers need to be purchasing travel insurance to protect their investments.”
The top 5 countries respondents plan to travel to next include:
- Mexico – top country 3 years in a row