Indian Passport Emerges as Second Cheapest Globally, Reveals Study
In a recent update on global passport affordability, the Indian passport has emerged as the second cheapest option to obtain worldwide, closely following the UAE. Not only is the Indian passport economically favorable in terms of its acquisition cost, but it also stands out for its low cost per year of validity. However, despite its affordability, holders of Indian passports face limitations in terms of visa-free access, with entry granted to only 62 nations. This contrasts with the UAE passport, which not only ranks as the most cost-effective option but also offers access to a greater number of countries without the need for a visa.
This insightful revelation stems from an extensive study conducted by Compare the Market AU, a highly respected Australian firm renowned for its comprehensive analysis of global trends. Their research delved deep into various facets of passport acquisition, including costs and value propositions based on years of validity and visa-free access to nations worldwide.
According to the study findings, Mexico emerged as the most expensive passport, commanding an acquisition cost of USD 231.05 for a 10-year validity period. Australia closely followed, with a slightly more affordable price tag of USD 225.78 for a passport valid over the same duration.
India secured its position as the second cheapest passport overall, with an acquisition cost of USD 18.07 for a 10-year validity period. In comparison, the UAE offers its passport at USD 17.70 for a 5-year duration, further solidifying its position as the frontrunner in terms of affordability.
In terms of cost-effectiveness per year of validity, India claimed the top spot, boasting a remarkably low cost of USD 1.81 per year. South Africa and Kenya followed closely behind, with approximate costs of USD 3.05 and USD 3.09, respectively.
Highlighting the significance of passports, Compare the Market emphasized the importance of travel insurance in mitigating potential expenses arising from passport loss, theft, or damage while abroad. Adrian Taylor, Executive General Manager of General Insurance at Compare the Market, underscored the value of travel insurance in alleviating stress during unforeseen circumstances, ensuring peace of mind for travelers.
Taylor reiterated the pivotal role of travel insurance in covering the costs associated with replacing lost or damaged passports, emphasizing its critical role in safeguarding travelers against unexpected challenges while abroad.