Sustainable Tourism Market Research Report by Technavio predicts USD 235.21 Bn growth | Europe to have a significant s...
May 10, 2022
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NEW YORK, May 10, 2022 /PRNewswire/ -- The sustainable tourism market is growing at a CAGR of 9.72% and is expected to register an incremental growth of USD 235.21 billion between 2020 and 2025. The report analyses the market size, growth, and provides accurate predictions on the growth of the market. Technavio has announced its latest market research report titled Sustainable Tourism Market by Type and Geography - Forecast and Analysis 2021-2025
The report recognizes the following as the key players in the sustainable tourism market: Adventure Alternative Ltd., And Beyond Holdings (Proprietary) Ltd., BOUTECO Ltd., G Adventures, and Intrepid Group among others. The global sustainable tourism market structure is fragmented in nature. Europe to have a significant share in the global sustainable tourism market. Market observed 6.21% YOY growth in 2021. The sustainable tourism market is segmented by type (domestic and international). The market will observe significant growth in the domestic segment during the forecast period. The familiarity of sustainable tourism policies and rules among local tourists is driving the growth of the segment. Regional Growth Analysis
The global sustainable tourism market is analyzed across five regions — Europe, North America, APAC, South America, and MEA. Europe is currently the dominating region, occupying 51% of the global market share. The presence of stringent environmental regulations are driving the growth of the regional market. However, the market will observe a slower growth in Europe, while regions such as APAC, South America, and MEA will observe faster growth. Market Dynamics
The sustainable tourism market is expected to witness substantial growth during the forecast period, primarily due to the shifting preference toward local and authentic experiences. Many tourists now prefer buying local products and have dinner at restaurants that use local ingredients to prepare the food. They also plan their adventure trips in public transport to have local and authentic traveling experience instead of hiring taxis. This growing trend among tourists is encouraging tourism companies to offer travel packages that allow tourists to explore local communities. With growing consumer awareness regarding the negative environmental impacts of tourism industry, the demand for sustainable tourism is expected to increase significantly over the forecast period. The report also covers information on the upcoming trends and challenges that will influence the market growth. Explore additional information by Downloading a Sample Report . Vendor Landscape
The sustainable tourism market is fragmented. Here are some of the products offered by key vendors:
Adventure Alternative Ltd.: The company offers sustainable tourism such as flying adventures, wildlife safaris, school expedition, trekking among others. And Beyond Holdings (Proprietary) Ltd.: The company offers sustainable virtual care tourism namely &BEYOND Connect. BOUTECO Ltd.: The company offers trustworthy, independent list of sustainable design-led hotels and boutique eco-hotels. G Adventures: The company offers sustainable tourism namely G for GOOD. Intrepid Group: The company offers sustainable tourism through its brands such as brands like Intrepid Travel, Peregrine Adventures, Urban Adventures among others. Along with the market data, Technavio offers customizations as per the specific needs of companies. The following customization options are available for the sustainable tourism market report:
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