Cultural tourism market size to grow by USD 6600.71 million from 2022 to 2027: A descriptive analysis of customer landscape, vendor assessment, and market dynamics - Technavio

NEW YORK, Jan. 9, 2023 /PRNewswire/ -- Technavio categorizes the global cultural tourism market as a part of the global leisure facilities market within the overall hotels, restaurants, and leisure market. The parent global leisure facilities market covers companies engaged in the operations of leisure facilities such as sports and fitness centers, stadiums, golf courses, and amusement parks. The global cultural tourism market size is estimated to increase by USD 6600.71 million. The market's growth momentum will progress at a CAGR of 20.77%.

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Global cultural tourism market - Customer landscape
To help companies evaluate and develop growth strategies, the report outlines –

• Key purchase criteria
• Adoption rates
• Adoption lifecycle
• Drivers of price sensitivity

Global cultural tourism market – Vendor analysis
Vendor Landscape - The global cultural tourism market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer cultural tourism in the market are ACE Cultural Tours Ltd, Aracari Travel, Classic Journeys LLC, Envoy Tours, Exodus Travels Ltd., G Adventures, Geographic Expeditions Inc., Indigenous Tourism BC, Intrepid Group Pty Ltd., Kudu Travel Ltd., Martin Randall Travel Ltd, Myths and Mountains, Odyssey World, Responsible Travel, Tandem Travel OOD, Tauck Inc., Travel Leaders Group Holdings LLC, Travelogy India Pvt. Ltd., Wilderness Travel, and FROSCH International Travel LLC and others.
The global cultural tourism market is at its growing stage. This implies that the market in focus is characterized by growing affordability, increased preference for cultural tourism to break mundane lifestyles, and growing contribution toward GDP and employment.

Vendor offerings -

• ACE Cultural Tours Ltd: The company offers cultural tourism such as Mozart Festival in Salzburg, Music and Opera in Vienna, and Art Nouveau in Belgium.
• Aracari Travel: The company offers cultural tourism such as Tailormade Peru Trip.
• Classic Journeys LLC: The company offers cultural tourism such as Colombia Cultural Walking Adventure.
• Envoy Tours: The company offers cultural tourism such as Embracing Georgia, Enlinking Caucasus and 1-day tour to Armenia.
• Exodus Travels Ltd.: The company offers cultural tourism such as Highlights of the Amalfi Coast and Discover the Baltics.
• For Details on the vendor and its offerings – Buy the report!

Global cultural tourism market - Segmentation assessment

Segment overview
Technavio has segmented the market based on type (domestic cultural tourism and international cultural tourism), service (cultural eco-tourism, indigenous cultural tourism, and socio-cultural tourism), and geography (Europe, APAC, North America, Middle East and Africa, and South America). 

• The market share growth of the domestic cultural segment will be higher than the other segments during the forecast period. The category is projected to continue to dominate the market throughout the forecast period because domestic culture tourism provides knowledge of the nation's tourism policies, governmental regulations, and risks related to cultural tourism.

Geography overview
By geography, the global cultural tourism market is segmented into Europe, APAC, North America, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global cultural tourism market.

• Europe will account for 49% of the market's growth during the forecast period. The growth of the market in Europe is fueled by some of the popular sites including Venice and its lagoon, the historic centers of Siena, the Piazza del Duomo in Pisa, and San Gimignano in Italy. In addition, Museumsinsel in Berlin, Cologne Cathedral, the town of Bamberg, and the Palaces and Parks of Potsdam and Berlin in Germany; Bourges Cathedral, and the Pont du Gard Roman aqueduct in France; and the Palaces and Parks of Potsdam and Berlin in Germany are popular tourist destinations. These world-famous sites in Western Europe are projected to boost the market in the area during the forecast period.

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Global cultural tourism market – Market dynamics

Leading drivers - The growing affordability is notably driving the cultural tourism market growth. Due to the increase in households with double incomes, the per capita disposable income in industrialized nations is less volatile. This directly affects a person's ability to spend money. High-end goods are now more accessible in developing nations due to rising purchasing power. As a result, increased disposable incomes in Pacific Rim nations like Malaysia, Indonesia, and Vietnam are anticipated to fuel the market growth during the forecast period.

Key trends - Growing instances of stress-related cases are the primary trend in the market. Some of the key elements impacting stress levels are money, family, employment, and personal health. Untreated stress can cause anxiety, irritation, hostility, lack of motivation or attention, restlessness, sorrow, or despair in many people. In addition to behavioral changes including angry outbursts, drug or alcohol misuse, overeating or undereating, social disengagement, and tobacco use, untreated stress can also lead to these behaviors. A person heals more quickly when they are in a new environment and take a break from their regular routine. As a result, cultural tourism businesses have more chances to attract visitors who are coming for health reasons. Such factors are expected to drive the growth of the market during the forecast period.

Major challenges - The threat from natural disasters is the major challenge impeding market growth. A natural disaster can threaten the revenue of the tourism sector. Depending on the extent of the natural disaster, rebuilding and maintaining infrastructure could be a very time-consuming task. For instance, Japan's recovery following the earthquake and tsunami that occurred there in 2011 took approximately two years. Environmental catastrophes and political upheaval are two more dangers the tourism sector must deal with. Environmental disasters have a direct impact on agriculture, biodiversity, human health, and the tourism industry, and they require a 20–24 month recovery period. Hence, the long recovery period from natural disasters impacts market growth.

Driver, Trend & Challenges are the factors of market dynamics that state about consequences & sustainability of the businesses, find some insights from a sample report!

What are the key data covered in this cultural tourism market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the cultural tourism market between 2023 and 2027
• Precise estimation of the size of the cultural tourism market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the cultural tourism market across Europe, APAC, North America, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of cultural tourism market vendors

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Table of Contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Service
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global cultural tourism market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global cultural tourism market 2017 - 2021 ($ million)

• 4.2 Type Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.3 Service Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Service Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Type

• 6.1 Market segments 
• Exhibit 30: Chart on Type - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Type - Market share 2022-2027 (%)

• 6.2 Comparison by Type 
• Exhibit 32: Chart on Comparison by Type
• Exhibit 33: Data Table on Comparison by Type

• 6.3 Domestic cultural tourism - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Domestic cultural tourism - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Domestic cultural tourism - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Domestic cultural tourism - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Domestic cultural tourism - Year-over-year growth 2022-2027 (%)

• 6.4 International cultural tourism - Market size and forecast 2022-2027 
• Exhibit 38: Chart on International cultural tourism - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on International cultural tourism - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on International cultural tourism - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on International cultural tourism - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Type 
• Exhibit 42: Market opportunity by Type ($ million)

7 Market Segmentation by Service

• 7.1 Market segments 
• Exhibit 43: Chart on Service - Market share 2022-2027 (%)
• Exhibit 44: Data Table on Service - Market share 2022-2027 (%)

• 7.2 Comparison by Service 
• Exhibit 45: Chart on Comparison by Service
• Exhibit 46: Data Table on Comparison by Service

• 7.3 Cultural eco-tourism - Market size and forecast 2022-2027
• Exhibit 47: Chart on Cultural eco-tourism - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Data Table on Cultural eco-tourism - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Chart on Cultural eco-tourism - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Cultural eco-tourism - Year-over-year growth 2022-2027 (%)

• 7.4 Indigenous cultural tourism - Market size and forecast 2022-2027 
• Exhibit 51: Chart on Indigenous cultural tourism - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on Indigenous cultural tourism - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on Indigenous cultural tourism - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Indigenous cultural tourism - Year-over-year growth 2022-2027 (%)

• 7.5 Socio-cultural tourism - Market size and forecast 2022-2027 
• Exhibit 55: Chart on Socio-cultural tourism - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Socio-cultural tourism - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Socio-cultural tourism - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Socio-cultural tourism - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Service 
• Exhibit 59: Market opportunity by Service ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 61: Chart on Market share by geography 2022-2027 (%)
• Exhibit 62: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 63: Chart on Geographic comparison
• Exhibit 64: Data Table on Geographic comparison

• 9.3 Europe - Market size and forecast 2022-2027
• Exhibit 65: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 67: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.4 APAC - Market size and forecast 2022-2027
• Exhibit 69: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027
• Exhibit 73: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 77: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027
• Exhibit 81: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 Italy - Market size and forecast 2022-2027
• Exhibit 85: Chart on Italy - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on Italy - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on Italy - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on Italy - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027
• Exhibit 89: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 China - Market size and forecast 2022-2027
• Exhibit 93: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.11 Germany - Market size and forecast 2022-2027
• Exhibit 97: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.12 India - Market size and forecast 2022-2027
• Exhibit 101: Chart on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 105: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 106: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 107: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 108: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 109: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 110: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 111: Matrix on vendor position and classification

• 12.3 ACE Cultural Tours Ltd 
• Exhibit 112: ACE Cultural Tours Ltd - Overview
• Exhibit 113: ACE Cultural Tours Ltd - Product / Service
• Exhibit 114: ACE Cultural Tours Ltd - Key offerings

• 12.4 Aracari Travel 
• Exhibit 115: Aracari Travel - Overview
• Exhibit 116: Aracari Travel - Product / Service
• Exhibit 117: Aracari Travel - Key offerings

• 12.5 Classic Journeys LLC 
• Exhibit 118: Classic Journeys LLC - Overview
• Exhibit 119: Classic Journeys LLC - Product / Service
• Exhibit 120: Classic Journeys LLC - Key offerings

• 12.6 Envoy Tours 
• Exhibit 121: Envoy Tours - Overview
• Exhibit 122: Envoy Tours - Product / Service
• Exhibit 123: Envoy Tours - Key offerings

• 12.7 Exodus Travels Ltd. 
• Exhibit 124: Exodus Travels Ltd. - Overview
• Exhibit 125: Exodus Travels Ltd. - Product / Service
• Exhibit 126: Exodus Travels Ltd. - Key offerings

• 12.8 FROSCH International Travel LLC 
• Exhibit 127: FROSCH International Travel LLC - Overview
• Exhibit 128: FROSCH International Travel LLC - Business segments
• Exhibit 129: FROSCH International Travel LLC - Key offerings
• Exhibit 130: FROSCH International Travel LLC - Segment focus

• 12.9 G Adventures 
• Exhibit 131: G Adventures - Overview
• Exhibit 132: G Adventures - Product / Service
• Exhibit 133: G Adventures - Key offerings

• 12.10 Geographic Expeditions Inc. 
• Exhibit 134: Geographic Expeditions Inc. - Overview
• Exhibit 135: Geographic Expeditions Inc. - Product / Service
• Exhibit 136: Geographic Expeditions Inc. - Key offerings

• 12.11 Indigenous Tourism BC 
• Exhibit 137: Indigenous Tourism BC - Overview
• Exhibit 138: Indigenous Tourism BC - Product / Service
• Exhibit 139: Indigenous Tourism BC - Key offerings

• 12.12 Intrepid Group Pty Ltd. 
• Exhibit 140: Intrepid Group Pty Ltd. - Overview
• Exhibit 141: Intrepid Group Pty Ltd. - Product / Service
• Exhibit 142: Intrepid Group Pty Ltd. - Key offerings

• 12.13 Kudu Travel Ltd. 
• Exhibit 143: Kudu Travel Ltd. - Overview
• Exhibit 144: Kudu Travel Ltd. - Product / Service
• Exhibit 145: Kudu Travel Ltd. - Key offerings

• 12.14 Martin Randall Travel Ltd 
• Exhibit 146: Martin Randall Travel Ltd - Overview
• Exhibit 147: Martin Randall Travel Ltd - Product / Service
• Exhibit 148: Martin Randall Travel Ltd - Key offerings

• 12.15 Odyssey World 
• Exhibit 149: Odyssey World - Overview
• Exhibit 150: Odyssey World - Product / Service
• Exhibit 151: Odyssey World - Key offerings

• 12.16 Responsible Travel 
• Exhibit 152: Responsible Travel - Overview
• Exhibit 153: Responsible Travel - Product / Service
• Exhibit 154: Responsible Travel - Key offerings

• 12.17 Travel Leaders Group Holdings LLC 
• Exhibit 155: Travel Leaders Group Holdings LLC - Overview
• Exhibit 156: Travel Leaders Group Holdings LLC - Product / Service
• Exhibit 157: Travel Leaders Group Holdings LLC - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 158: Inclusions checklist
• Exhibit 159: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 160: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 161: Research methodology
• Exhibit 162: Validation techniques employed for market sizing
• Exhibit 163: Information sources

• 13.5 List of abbreviations 
• Exhibit 164: List of abbreviations

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SOURCE Technavio