International Travel and Insurance Purchase: the Role of Traveling Companion, Household Income, Travel Risk, and Sufficient Financial Resources on this Relationship

IF 1 Q3 HOSPITALITY, LEISURE, SPORT & TOURISM
Jason Draper, A. DeFranco
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引用次数: 0

Abstract

The COVID-19 pandemic had and continues to have profound effects on the travel industry, creating many risks and unknowns, especially for international travel. Using consumer risk theory and protection motivation theory as a framework, this study explores the relationships between international travel plans in 2023 and 2024–2025 and the likelihood of purchasing travel insurance (i. e., cancellation/interruption, emergency medical, baggage) with a sample of 1,264 US residents. Travel companion(s) and household income are examined as potential moderators and travel risk and sufficient household income as mediators. Results reveal a likelihood to purchase all three travel insurance types, and travelers are twice as likely to buy insurance for international travel for 2024–2025 compared to 2023. Likelihood to purchase travel insurance is also influenced by travel risk and having sufficient financial resources where sufficient financial resources partially mediates the relationships in question. Results suggest a new era of travel where risk is inherent and if travelers have sufficient financial resources, they will purchase travel insurance to mitigate risks of potentially suffering financial losses. This is a new finding with implications for the travel insurance industry, which should find ways to partner with travel providers, such as wholesalers and group tours, to offer insurance to international travelers. Although COVID-19 has been downgraded, other diseases are surfacing (e. g., monkeypox), leaving public health an important consideration. This and subsequent research will remain important to monitor how other outbreaks and risks impact the travel industry and travelers' methods to protect themselves.
国际旅行和保险购买:旅伴、家庭收入、旅行风险和充足的财政资源在这一关系中的作用
新冠肺炎大流行已经并将继续对旅游业产生深远影响,造成许多风险和未知因素,尤其是对国际旅行。本研究以消费者风险理论和保护动机理论为框架,以1264名美国居民为样本,探讨了2023年和2024-2025年的国际旅行计划与购买旅行保险(即取消/中断、紧急医疗、行李)的可能性之间的关系。旅伴和家庭收入被视为潜在的调节因素,旅行风险和充足的家庭收入被认为是调节因素。结果显示,购买所有三种旅行保险的可能性都很高,2024年至2025年,旅行者购买国际旅行保险的可能是2023年的两倍。购买旅行保险的可能性也受到旅行风险和拥有足够财务资源的影响,其中足够的财务资源在一定程度上调解了相关关系。研究结果表明,这是一个新的旅行时代,风险是固有的,如果旅行者有足够的经济资源,他们将购买旅行保险,以减轻可能遭受经济损失的风险。这是一个对旅游保险业有影响的新发现,旅游保险业应该找到与批发商和团体旅游等旅游提供商合作的方式,为国际旅行者提供保险。尽管新冠肺炎已经降级,但其他疾病正在出现(例如猴痘),这使公共卫生成为一个重要的考虑因素。这项研究和随后的研究对于监测其他疫情和风险如何影响旅游业以及旅行者的自我保护方法仍然很重要。
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来源期刊
Tourism Review International
Tourism Review International HOSPITALITY, LEISURE, SPORT & TOURISM-
CiteScore
3.90
自引率
11.80%
发文量
19
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