After a decline resulting from the “Great Recession,” international travel is on the rise. Not only are business people, students and nonprofit volunteers traveling more, destinations for overseas assignments and study abroad programs are changing as emerging economies become vital engines of global economic growth. Corporations, universities and nonprofit organizations all recognize their obligations to address the health and safety issues of foreign travelers. Increasingly risk management departments are structuring comprehensive programs combining insurance and travel services to provide foreign travelers with access to high quality medical care, health and safety information and evacuation from dangerous situations if necessary.
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The global connectivity of commerce has required more businesses to expand beyond their home countries. Not only large multinational organizations, but also small and midsize businesses in a wide array of industry segments, increasingly operate offices around the world to compete in fast-growing foreign markets. While the “Great Recession” temporarily slowed the rate of business travel and international assignees, overall the past decade has experienced significant growth. Not only are business people, students and volunteers traveling more, destinations for overseas assignments and study abroad programs are changing as emerging economies become vital engines of global economic growth.
Regardless of the destination, employees, students and volunteers are exposed to a litany of foreign travel risk. However, the growth in travel to emerging markets has made addressing those risks more complicated. Organizations have both an ethical and a legal obligation to provide for the health, safety, and security of employees while in foreign lands. Regardless of size and resources, organizations need to implement multinational travel programs that incorporate a comprehensive risk management approach and perspective.
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