After UAE passports, Indian passports are the second least expensive in the world.

In a recent analysis, the Indian passport emerged as the second most economical passport to obtain globally, following closely behind the UAE. The study, conducted by Compare the Market AU, an Australian firm, assessed the cost-effectiveness of acquiring passports from various countries, considering both the upfront acquisition cost and the cost per year of validity, as well as the number of nations offering visa-free access.

According to the findings, while the Indian passport is among the cheapest to acquire, costing USD 18.07 for a 10-year validity period, it offers visa-free access to only 62 countries. In contrast, the UAE's passport, which holds the top spot for affordability, has a lower acquisition cost of USD 17.70 for a 5-year validity period.

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The study highlighted Mexico as the most expensive passport, priced at USD 231.05 for a 10-year validity period, with Australia ranking slightly cheaper at USD 225.78 for the same duration. Interestingly, when considering the cost per year of validity, India's passport emerged as the most economical, with a cost of USD 1.81 per year. South Africa and Kenya followed closely behind, with costs of approximately USD 3.05 and USD 3.09 per year, respectively.

Despite the economic advantages offered by Indian passports, their limited visa-free access contrasts with countries like Australia, the USA, and Canada, which, despite higher acquisition costs, provide access to a larger number of nations. This discrepancy underscores the trade-off between affordability and global mobility.

Given the importance of passports in international travel, many individuals opt for travel insurance to mitigate risks such as loss, theft, or damage to important documents while abroad. Adrian Taylor, Executive General Manager of General Insurance at Compare the Market, emphasized the value of travel insurance in providing peace of mind during unforeseen circumstances.

Taylor highlighted the significance of travel insurance in covering the costs associated with document replacement, stating, "Nobody wants to be stressed out on their holidays. Damage, loss, or theft of your important documents is an unfortunate risk many people face while overseas. Depending on your policy, travel insurance may be able to help cover the cost of a replacement if you need to apply for one."

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