Richmond, Jan. 04, 2024 (GLOBE NEWSWIRE) -- According to a research report "Sustainable Tourism Market, By Type (Ecological Tourism, Eco Tourism/ Green Tourism, Soft Tourism and Community Tourism), By Booking Channel (Phone Booking, Online Booking and In Person Booking), By Tourism Type (Domestic and International), By Tourist Type (Solo, Group, Family and Couples), By Age Group (Millennial, Baby Boomers, Generation X and Silver hair) and Region - Global Forecast to 2030.
Global Sustainable Tourism Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 2.2 Trillion |
| Market size value in 2030 | USD 8.7 Trillion |
| CAGR (2023-2030) | 18.83% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Booking Channel, Tourism Type, Tourist Type and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Sustainable Tourism Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
Sustainable tourism, also referred to as eco-tourism or ecological tourism, strives to mitigate the negative impacts of travel on the environment while promoting positive social and economic outcomes. It places significant importance on preserving the environment, protecting biodiversity, honoring indigenous cultures, and adhering to ethical principles throughout the entire tourism process.
The sustainable tourism sector is primarily driven by its numerous benefits to the ecology, wildlife, and natural diversity of tourist destinations, as well as its positive effects on the local residents. With a core objective of fostering the development of local communities, sustainable tourism resonates strongly with the millennial generation, known for its active involvement in promoting equality and the progress of underdeveloped regions and nations. Government initiatives will play a crucial role in the expansion of the sustainable tourism industry. Countries investing in sustainable tourism development, including initiatives such as renewable energy and certifications for environmentally friendly practices, will empower local businesses in the region to participate in sustainable tourism, ultimately contributing significantly to market growth.
Major Vendors in the Global Sustainable Tourism Market:
- Basecamp Explorer AS
- Beyonder Experiences
- Bouteco
- Cheeseman’s Ecological Safaris
- G Adventures Inc.
- Gondwana Ecotours
- Inkaterra
- Intrepid Group Pty Limited
- LooLa Adventure Resort
- NATIVE TOURS, INC.
- Natural Habitat Adventures
- Responsible Travel
- Row Adventures
- Sustainable Travel International
- Tourism Holdings Limited
- Undiscovered Mountains
- Vagabond Tours Limited
- Wild Frontiers Adventures Travel
- Wilderness Safaris
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Increasing awareness and demand for eco-friendly and responsible travel experiences
The escalating awareness and demand for eco-friendly and responsible travel experiences stand out as a key driver propelling the sustainable tourism market. As environmental concerns take center stage in global discourse, travelers are increasingly conscious of their impact on the planet. This heightened awareness translates into a growing preference for destinations and tourism services that prioritize sustainability, encompassing factors such as conservation of natural resources, reduction of carbon emissions, and support for local communities. This shift in consumer behavior is compelling businesses in the tourism sector to adopt environmentally responsible practices, driving innovation and sustainable development across the industry.
Moreover, the demand for eco-friendly and responsible travel experiences is not merely a passing trend; it reflects a fundamental shift in consumer values. Travelers are actively seeking experiences that align with their ethical and environmental principles. This evolving mindset is influencing tourism businesses to integrate sustainable practices into their offerings, from accommodations and transportation to tour activities. As the market responds to this increasing demand, it creates a positive feedback loop where the commitment to sustainability becomes a distinguishing factor, shaping the future landscape of the sustainable tourism market.
Market Dynamics
Drivers:
- Shift in traveller preferences
- Rising millennial and gen Z Travelers
- Increased awareness through educational campaigns
Opportunities:
- Expanding offerings ecotourism and adventure travel
- Development of eco-friendly cruise lines and itineraries
- Community-Based Tourism
Large tourism companies adopting sustainable tourism practices
The incorporation of sustainable tourism practices by major tourism corporations significantly influences the course of the sustainable tourism market. When industry leaders adopt environmentally conscious strategies, they not only alleviate the adverse effects of travel on the environment but also establish a compelling model for other participants in the market. These influential companies, often serving as trendsetters, wield substantial sway over consumer behavior. As they integrate sustainable measures into their operations, it catalyzes a shift towards responsible and eco-friendly travel choices among a broader audience, thereby fueling the demand for sustainable tourism experiences.
Furthermore, the commitment of major tourism corporations to sustainable practices extends beyond environmental considerations alone. It embraces a comprehensive approach that includes social and economic dimensions. By respecting local cultures, endorsing community development, and upholding ethical principles, these companies contribute to the overall welfare of the destinations where they operate. This multifaceted strategy not only amplifies the positive impact of tourism on local communities but also positions sustainable tourism as a viable and appealing option for both corporations and travelers.
The Market for Sustainable Tourism is Dominated by North America.
In 2022, North America dominated the revenue share, primarily attributed to the rising importance of travel experiences centered on eco-friendliness and social responsibility. This region, encompassing the United States and Canada, has experienced a heightened consciousness among travelers regarding environmental concerns, driving a preference for sustainable options. Furthermore, North America's sustainable tourism endeavors frequently highlight the conservation of indigenous cultures and heritage. The focus on responsible tourism practices aims to actively involve and uplift local communities, emphasizing the importance of respecting and celebrating cultural diversity.
Furthermore, The Asia-Pacific region is projected to experience the most rapid growth, driven by its dedication to harmonizing economic development with the preservation of the environment and culture. This commitment positions the region as a significant player in the global sustainable tourism sector. As awareness surrounding sustainability increases and becomes a focal point, Asia-Pacific is expected to play a crucial role in influencing the trajectory of responsible travel. Additionally, numerous governments in the region are actively championing sustainable tourism through policies and initiatives concentrated on environmental conservation, responsible tourism practices, and the establishment of eco-friendly infrastructure aimed at mitigating the environmental footprint of tourism.
The Infant Formula Segments is anticipated to hold the Largest Market Share during the Forecast Period
In the sustainable tourism market, tourism type is segmented into domestic and international. Among which domestic tours take the lead in the tourism type segment. The predominant factor driving the growth of this segment is the popularity of affordable flights and budget-friendly tour options among a majority of tourists. Additionally, the substantial growth of domestic tours is attributed to various initiatives undertaken by regional governments to promote local tourism. These efforts have made a noteworthy contribution to the expansion of domestic tours and are anticipated to maintain a substantial share throughout the forecast period.
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