The potential growth difference for the sustainable tourism market between 2020 and 2025 is USD 235.21 billion, as per the latest market analysis report by Technavio. The report also identifies the market to witness an accelerating growth momentum of 9.72% during the forecast period. This report also provides a comprehensive study on various factors influencing the market growth positively and adversely during the forecast period.
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Key Market Dynamics:
The shifting preference toward local and authentic experiences will be one of the major factors driving sustainable tourism market growth during the forecast period. Several tourists across the globe are preferring adventure trips in public transport instead of taxis and are choosing local and authentic traveling experiences over traditional traveling. In addition, they are preferring to buy local products instead of souvenirs and have dinners at restaurants that use local primary ingredients to prepare their food. This is expected to drive sustainable tourism market growth during the forecast period. Furthermore, large tourism companies implementing sustainable tourism practices coupled with an increase in the number of travelers opting for new types of tourism and the growing popularity of organic sustainable tourism will further accelerate the growth of the market in the long run.
The inability of developing countries to implement sustainable tourism policies will challenge market growth. In addition, other factors including high cost associated with green travel and increased threat of terrorism are some of the other factors expected to hinder the market growth during the next few years.
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The sustainable tourism market report is segmented by Type (domestic and international) and Geography (Europe, North America, APAC, South America, and MEA). The domestic sustainable tourism type segment will lead the market growth during the forecast period owing to increasing growing awareness about organic local food and accommodation that have a low environmental impact. Consumers are increasingly preferring to go for places promoting local cuisines and places using sustainable means of living. In terms of geography, Europe held the largest market share in 2020 and will lead the market growth by owning 51% of the market's growth contribution during the forecast period. France, Germany, and the UK are the key markets for sustainable tourism in Europe. Market growth in this region will be faster than the growth of the market in North America.
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Some Companies Mentioned
- Adventure Alternative Ltd.
- And Beyond Holdings (Proprietary) Ltd.
- BOUTECO Ltd.
- G Adventures
- Intrepid Group
- Kind Traveler PBC
- Mojosurf
- Responsible Travel
- Wild Frontiers Adventure Travel Ltd.
- Wilderness Safaris
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Sustainable Tourism Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of over 9.72% |
Market growth 2021-2025 |
USD 235.21 billion |
Market structure |
Fragmented |
YoY growth (%) |
6.21 |
Regional analysis |
Europe, North America, APAC, South America, and MEA |
Performing market contribution |
Europe at 51% |
Key consumer countries |
France, Germany, US, UK, and Japan |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Adventure Alternative Ltd., And Beyond Holdings (Proprietary) Ltd., BOUTECO Ltd., G Adventures, Intrepid Group, Kind Traveler PBC, Mojosurf, Responsible Travel, Wild Frontiers Adventure Travel Ltd., and Wilderness Safaris |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
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. |
Key Topics Covered:
- Executive Summary
- Market Landscape
- Market Sizing
- Five Forces Analysis
- Market Segmentation by Type
- Customer landscape
- Geographic Landscape
- Vendor Landscape
- Vendor Analysis
- Appendix
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SOURCE Technavio
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