Ecotourism Market To Reach USD 1012240 Million by 2028 at a CAGR of 14.0%| Valuates Reports

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07 Nov, 2022, 22:30 IST

BANGALORE, India, Nov. 7, 2022 /PRNewswire/ -- Ecotourism Market is segmented by Type (Alternative Tourism, Responsible Tourism, Sustainable Tourism, Community Tourism), By Application (Below 20 Years, 20-30 Years, 30-40 Years, 40-50 Years, Above 50 Years) : Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Travel Category.

Considering the economic change due to COVID-19 and Russia-Ukraine War Influence, the global Ecotourism market is projected to reach USD 1012240 million by 2028 from an estimated USD 461160 million in 2022, at a CAGR of 14.0% during 2023 and 2028.

Major Factors Driving the Growth of Ecotourism Market

The population's rising environmental consciousness is anticipated to fuel the Ecotourism market. Sustainable travelers and government agencies are promoting ecotourism and helping the sector flourish as a result of increased awareness of the negative effects of tourism on the environment, such as water pollution, soil erosion, and habitat loss. Additionally, the Ecotourism market is mostly fueled by the growing appeal of solo travel, outdoor recreation, and immersive travel, as well as by rapid urbanization and the accessibility of low-cost flights.

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TRENDS INFLUENCING THE GROWTH OF ECOTOURISM MARKET

Growing environmental consciousness will accelerate the growth of the ecotourism market. By investigating ecology and ecosystems and by offering outdoor-themed activities, ecotourism aims to increase environmental awareness. Participating actively in ecology and experiencing firsthand how ecosystems function has an impact on people's thinking, which ultimately increases awareness of conservation and protection. Travelers today are more motivated to make a difference, and there is a rising desire for journeys that help various international communities. According to a recent survey conducted by Amadeus, two-thirds of customers place high importance on sustainable travel, and 37% of respondents believe that providing travelers with the chance to contribute to the long-term sustainability of the industry will help preserve tourist destinations.

Preference for Immersive Travel is expected to drive the growth of the Ecotourism Market Growth. People who seek to have genuine experiences that provide insight into local culture and customs, away from over-the-top tourist attractions, view learning about local cultures as a fundamental component of sustainable travel. Travelers should always prioritize developing new habits and having real experiences over living like tourists. This is known as the life and acts as a local mentality. One of the most crucial components of sustainable tourism is stepping outside one's comfort zone to explore new realities.

In an effort to draw clients and different tourist groups from around the world, government agencies like the World Tourism Organization and the United Nations Educational, Scientific and Cultural Organization (UNESCO) are promoting the leisure business. To protect the environment and position themselves as worldwide leaders among eco-friendly vacation destinations, nations like the UAE have started a number of programs and sustainability projects. This is expected to drive the growth of the Ecotourism Market Growth.

Furthermore, the major businesses in the sector are setting the pace as environmentally friendly travel takes on more significance. This in turn is expected to fuel the Ecotourism Market Growth.

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ECOTOURISM MARKET SHARE ANALYSIS:

Based on region, North America is expected to hold the largest market share at 38%. 

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Key Companies:

  • Expedia Group
  • Booking Holdings
  • China Travel
  • China CYTS Tours Holding
  • American Express Global Business Travel
  • Travel Leaders Group
  • JTB Corporation
  • Frosch
  • AndBeyond
  • Intrepid travel
  • Travelopia

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