The Latin America, Middle East and Africa Travel Risk Management Services Market would witness market growth of 9.9% CAGR during the forecast period (2023-2030).
Communication is critical during emergencies. Travel security services often include alert systems that allow organizations to quickly communicate with travelers, providing them with information, instructions, and support. Many travel risk management services include travel insurance or work with insurance providers to offer coverage tailored to the specific needs of travelers. This includes coverage for medical emergencies, trip cancellations, and evacuations.
Travel security services help organizations comply with the duty of care responsibilities by providing the necessary support and resources to ensure the safety of their employees. Travel security is a multifaceted aspect of travel risk management services encompassing risk assessment, monitoring, emergency response, and support services. It is designed to help organizations and individuals mitigate risks and respond effectively to unforeseen events while traveling. The integration of technology and data-driven insights is playing an increasingly important role in enhancing travel security services.
The UAE government estimates that in 2022 the travel and tourism industry contributed AED 167 billion, or 9% of the UAE's overall GDP. Tourists from other countries spent a total of AED 117.6 billion in 2022. The UAE now has 1189 hotels, and the country can accommodate 203,000 hotel rooms, according to 2022 statistics provided by the Ministry of Economy of UAE.
Business services and consulting are instrumental in helping organizations effectively manage travel risks in the diverse and dynamic Middle East region. These services provide expert guidance, facilitate compliance, and ensure that organizations are well-prepared to protect the safety and well-being of their travelers in this complex environment. Hence, all of these factors will aid in the expansion of the regional market.
The Brazil market dominated the LAMEA Travel Risk Management Services Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $4,197 million by 2030. The Argentina market is showcasing a CAGR of 10.5% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 9.6% during (2023 - 2030).
Based on Service Type, the market is segmented into Travel Security, Crisis Management, Data Security, Health Security, Assistance & Tracking and Others. Based on Enterprise Size, the market is segmented into Large Enterprises, Medium Enterprises and Small Enterprises. Based on Industry, the market is segmented into Agri, Food & Beverage, Pharmaceutical & Healthcare, Hospitality, Business Services & Consulting, IT, Technology & Telecom, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include FocusPoint International, Inc., BCD Group, Collinson International Limited, Tokio Marine Holdings, Inc., CWT Global B.V, Global Rescue LLC, Everbridge, Inc, Kroll, LLC, Chubb Limited, and Healix Group of companies.
Communication is critical during emergencies. Travel security services often include alert systems that allow organizations to quickly communicate with travelers, providing them with information, instructions, and support. Many travel risk management services include travel insurance or work with insurance providers to offer coverage tailored to the specific needs of travelers. This includes coverage for medical emergencies, trip cancellations, and evacuations.
Travel security services help organizations comply with the duty of care responsibilities by providing the necessary support and resources to ensure the safety of their employees. Travel security is a multifaceted aspect of travel risk management services encompassing risk assessment, monitoring, emergency response, and support services. It is designed to help organizations and individuals mitigate risks and respond effectively to unforeseen events while traveling. The integration of technology and data-driven insights is playing an increasingly important role in enhancing travel security services.
The UAE government estimates that in 2022 the travel and tourism industry contributed AED 167 billion, or 9% of the UAE's overall GDP. Tourists from other countries spent a total of AED 117.6 billion in 2022. The UAE now has 1189 hotels, and the country can accommodate 203,000 hotel rooms, according to 2022 statistics provided by the Ministry of Economy of UAE.
Business services and consulting are instrumental in helping organizations effectively manage travel risks in the diverse and dynamic Middle East region. These services provide expert guidance, facilitate compliance, and ensure that organizations are well-prepared to protect the safety and well-being of their travelers in this complex environment. Hence, all of these factors will aid in the expansion of the regional market.
The Brazil market dominated the LAMEA Travel Risk Management Services Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $4,197 million by 2030. The Argentina market is showcasing a CAGR of 10.5% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 9.6% during (2023 - 2030).
Based on Service Type, the market is segmented into Travel Security, Crisis Management, Data Security, Health Security, Assistance & Tracking and Others. Based on Enterprise Size, the market is segmented into Large Enterprises, Medium Enterprises and Small Enterprises. Based on Industry, the market is segmented into Agri, Food & Beverage, Pharmaceutical & Healthcare, Hospitality, Business Services & Consulting, IT, Technology & Telecom, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include FocusPoint International, Inc., BCD Group, Collinson International Limited, Tokio Marine Holdings, Inc., CWT Global B.V, Global Rescue LLC, Everbridge, Inc, Kroll, LLC, Chubb Limited, and Healix Group of companies.
Scope of the Study
Market Segments Covered in the Report:
By Service Type- Travel Security
- Crisis Management
- Data Security
- Health Security
- Assistance & Tracking
- Others
- Large Enterprises
- Medium Enterprises
- Small Enterprises
- Agri, Food & Beverage
- Pharmaceutical & Healthcare
- Hospitality
- Business Services & Consulting
- IT, Technology & Telecom
- Others
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- FocusPoint International, Inc.
- BCD Group
- Collinson International Limited
- Tokio Marine Holdings, Inc.
- CWT Global B.V
- Global Rescue LLC
- Everbridge, Inc
- Kroll, LLC
- Chubb Limited
- Healix Group of companies
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 5. LAMEA Travel Risk Management Services Market by Service Type
Chapter 6. LAMEA Travel Risk Management Services Market by Enterprise Size
Chapter 7. LAMEA Travel Risk Management Services Market by Industry
Chapter 8. LAMEA Travel Risk Management Services Market by Country
Chapter 9. Company Profiles
Companies Mentioned
- FocusPoint International, Inc.
- BCD Group
- Collinson International Limited
- Tokio Marine Holdings, Inc.
- CWT Global B.V
- Global Rescue LLC
- Everbridge, Inc
- Kroll, LLC
- Chubb Limited
- Healix Group of companies
Methodology
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