ndia had the second cheapest passport on the list overall, costing USD 18.07 for a validity of 10 years as against USD 17.70 for a 5-year passport for the United Arab Emirates
A new study by Compare the Market AU, an Australian has studied the cost of acquisition of passports of various countries and the cost-effectiveness per year of validity and also their value in terms of number of countries that it provides visa-free access to.
According to a press statement by Compare the Market AU, India had the second cheapest passport on the list overall, costing USD 18.07 for a validity of 10 years as against USD 17.70 for a 5-year passport for the United Arab Emirates.
In comparison, Mexico had most expensive passport, costing USD 231.05 for a period of 10 years, with Australia only slightly cheaper at USD 225.78 for a 10-year passport.
In terms of cost per year of validity, India stood out as the cheapest passport with a cost of USD 1.81 per year, with South Africa and Kenya following in second and third spots, at about USD 3.05 and USD 3.09 respectively.
Mexico and Australia again were the most expensive and the second most expensive passports for a 10-year validity, with a cost of USD 23.1 and USD 22.57 per year.
The statement adds that the travel insurance comparison experts compiled a list of passport fees around the world and compared them based on price, years valid and power, finding some nations’ passport power can come with a high price tag.
The statement adds that even though the Indian passport was the second cheapest overall, and was the least expensive passport per years valid, holders of Indian passport holders can only travel to 62 nations without a visa, which is significantly lower than many other passports on the list.
It adds that despite having comparably powerful passports, other nations such as Australia, the USA and Canada consistently found themselves nearing the bottom of the list due to high passport fees relative to other countries.
The statement adds that given its importance, it makes sense that some people might choose to take out travel insurance to cover or the cost of replacing a passport if it is lost, stolen or damaged while overseas.
The company says that as experts in travel insurance comparison, it decided to compare the cost of a passport in various countries to find out who has the most valuable passport in the world. It compared 29 passports using three metrics, the overall cost to obtain a passport, the value of the passport based on how many years it is valid for and finally the value of the passport based on the number of countries the holder can visit without a visa.
It adds that by incorporating figures from the Henley Passport Index, it calculated a new score, the cost per number of countries a passport holder can travel to without the need for a visa.
The 10-year Mexican passport is once again the most expensive in this regard. Holders of this passport are paying USD 1.8 per country they can travel to without a visa. The Australian, with USD 1.17, and Fijian, at USD 1.02 passports pose the second and third lowest value proposition on this list.
Adrian Taylor, Executive General Manager of General Insurance of Compare the Market, says travel insurance may be able to help if something happens to your passport overseas.
“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,’’ says Taylor.
“It pays to have peace of mind, so you know you are covered in case something bad happens to your important travel documents,” he adds.
