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The sustainable tourism market is estimated to grow at a CAGR of 9.54% between 2022 and 2027. The size of the market is forecast to increase by USD 335.93 billion. The growth of the market depends on several factors, including the large tourism companies implementing sustainable tourism practices, the shifting preference toward local and authentic experiences, and the increasing number of travellers opting for new types of tourism.
This report extensively covers market segmentation by type (domestic and international) and geography (APAC, North America, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The implementation of sustainable tourism practices by large tourism companies is notably driving market growth, although factors such as the inability of developing countries to implement sustainable tourism policies may impede market growth. Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the market's key drivers, trends, and challenges. Although there has been a decrease in demand for the market during the COVID-19 pandemic, a holistic analysis of drivers will help companies refine marketing strategies to gain a competitive advantage.
Key Sustainable Tourism Market Driver
The implementation of sustainable tourism practices by large tourism companies is the key factor driving the global ecotourism market growth. Many multinational hotels and large tourism companies are increasing their collaborative efforts to make their supply chains more sustainable. Sustainable tourism initiatives are expected to have a positive impact on the market due to the connections that multinational hotels and tourism companies and their suppliers have across different tourism-related industries.
Sustainable reporting has become a common practice among many large travel and tourism operators, which has helped such operators pay attention to reducing the environmental impact of their operations. Therefore, the implementation of sustainable tourism practices by large travel and tourism operators is expected to boost the growth of the market during the forecast period.
Key Sustainable Tourism Market Trend
The increase in the number of eco-conscious travelers will fuel the global ecotourism market growth. One of the main factors that encourage travelers to opt for sustainable tourism is the need to protect the environment and available natural resources, as they have become aware of the negative impacts of tourism on the environment.
A significant number of domestic and international organizations, including UNESCO, GSTC, and UNWTO, are actively developing standards and providing guidance to tourism companies and destinations. These organizations conduct training programs such as the Sustainable Tourism Training Program; create accreditation schemes; organize conferences such as the Marrakech Task Force on Sustainable Tourism, the International Guidelines for Biological Diversity and Tourism Development, and the Quebec Declaration; and advocate sustainable tourism policies at different government levels. These initiatives are expected to be important factors for the growth of the market during the forecast period.
Key Sustainable Tourism Market Challenge
The inability of developing countries to implement sustainable tourism policies is a major challenge to global ecotourism market growth. Sustainable tourism is not very popular in developing countries. These countries cannot implement sustainable policies effectively, including conserving natural resources, safeguarding economic interests, and encouraging local heritage tours when governments change, or national budgets come under pressure.
Indonesia's national tourism law has environmental conservation targets. However, there is a lack of suitable action plans as a result of set policies. Similarly, lawmakers in India are showing greater awareness of sustainable tourism goals. However, their policies are yet to get approved, and the focus on the implementation of sustainable policies has been negligible. These factors are expected to pose a threat to the growth of the ecotourism market during the forecast period.
Key Sustainable Tourism Market Customer Landscape
Our analysis of the life cycle of the ecotourism market indicates a movement from the innovator’s stage to the laggard’s stage. Technavio has included key purchase criteria, adoption rates, adoption lifecycles, and drivers of price sensitivity to help companies evaluate and develop growth strategies from 2022 to 2027.
Global Sustainable Tourism Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the ecotourism market
Adventurealternativ - The company offers sustainable tourism, such as flying adventures, wildlife safaris, school expeditions, and trekking. Also, the company offers climbs, treks, jungle trips, and adventure holidays for individuals, groups, and families, among others.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market vendors, including :
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the domestic segment will be significant during the forecast period. Domestic sustainable tourism refers to the travel of residents within an economic territory of a particular country or region with the aim of reducing the ecological footprint. Sustainable tourism ensures a positive experience for local communities and safeguards their economic interests. The domestic sustainable tourism segment dominates the market in focus. The segment is expected to continue to lead the market during the forecast period due to advantages such as tourists' familiarity with a country's sustainable tourism policies and rules. The domestic market for sustainable tourism is driven by the absence of currency exchange issues and the importance of regional economic growth. Though this segment holds a major market share, it is expected to exhibit a decline in its share during the forecast period, owing to an increasing focus of developing countries on international sustainable tourism owing to the chances of higher foreign exchange earnings.
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The domestic segment showed a gradual increase in market share with USD 352.28 billion in 2017 and continued to grow by 2021. Governments of many developing countries, including China and Brazil, are classifying different types of tourism activities into several subsets, including sustainable tourism, sports tourism, culinary tourism, and cultural tourism. This is mainly to encourage local people to experience different types of tourism activities within a country. The governments of such countries use domestic sustainable tourism as an opportunity to drive economic growth, upgrade infrastructure, and improve economic links between different internal regions of a country. China leads the domestic market, followed by the US, which is attributed to the growing middle-class population and the government's support for promoting new tourist locations. These factors will likely be important for the growth of the domestic sustainable tourism segment in developing countries during the forecast period. Furthermore, our report provides a brief analysis of the historical and forecast market share and their segments along with the reasons for growth from 2017 to 2027.
The growth of this segment is primarily attributed to the increasing adoption of Sustainable Tourism, which is driven by an increase in the global demand for the sustainable tourism industry.
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Europe is projected to contribute 38% by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the ecotourism market during the forecast period.
France, Germany, and the UK are the leading countries that account for over 50% of the market in the region. The growth of the market in these countries, especially France and Germany, can be attributed to the collaborative efforts of governments at the national level to develop different policies for sustainable tourism. These policies include setting the required targets and guidelines for tourist transport as well as monitoring final assessments and results of the set targets to reduce the consumption of water and energy and greenhouse gas emissions.
This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. The outbreak of COVID-19 led to a decline in demand for sustainable tourism in Europe. In 2020, the outbreak of COVID-19 severely affected the growth of the tourism sector in Europe. Stringent lockdowns were imposed in the UK, France, Italy, Germany, Ireland, Sweden, Belgium, and other countries to combat the spread of infection in 2020. This resulted in the halt of international flights and travel within the region. Owing to travel restrictions following the outbreak of COVID-19 in the region, the demand for sustainable tourism among travelers declined, which severely impacted the growth of the market in Europe in 2020. However, the lockdown restrictions were relaxed in the second half of 2020 due to the large-scale vaccination drives conducted across Europe. This led to the resumption of travel by the end of 2021. Moreover, restrictions on international flights have also been lifted across the world. This will spur the arrival of foreign tourists in Europe, leading to an increased demand for sustainable tourism during the forecast period. Thus, the growth of the market in Europe is projected to rebound during the forecast period.
The global ecotourism market is a part of the global hotels, restaurants, and leisure market. Technavio categorizes the market as a part of the global hotels, resorts, and cruise lines market within the global hotels, restaurants, and leisure market. The parent global hotels, resorts, and cruise lines market covers companies engaged in operating hotels, resorts, and cruise ships, including travel agencies, tour operators, and related services. Technavio calculates the global hotels, restaurants, and leisure industry market size based on combined revenue generated by companies of casinos and gaming; hotels, resorts, and cruise lines; leisure facilities; and restaurants. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
Our report forecasts revenue growth at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by type, booking channel, and region.
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Sustainable Tourism Market Scope |
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Report Coverage |
Details |
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Page number |
152 |
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Base year |
2022 |
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Historical year |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.54% |
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Market growth 2023-2027 |
USD 335.93 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
8.5 |
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Regional analysis |
Europe, North America, APAC, South America, and the Middle East and Africa |
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Performing market contribution |
Europe at 38% |
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Key consumer countries |
US, Canada, Japan, France, and Germany |
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Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
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Key companies profiled |
Adventure Alternative Ltd., And Beyond Holdings Proprietary Ltd., Aracari Travel, Beyonder Experiences LLP, BOUTECO Ltd., Earth Changers, G Adventures, Global Himalayan Expedition, Intrepid Group, Kind Traveler PBC, Kynder, Mojosurf, NATIVE TOURS INC., Responsible Travel, Rickshaw Travel Ltd., Steppes Travel Ltd., The Blue Yonder, Undiscovered Mountains Ltd., Wild Frontiers Adventure Travel Ltd., and Wilderness Safaris |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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