Sustainable Tourism Market size to increase by USD 918 billion during 2022-2027| The implementation of sustainable tourism practices by large tourism companies to drive the market growth- Technavio

NEW YORK, Dec. 17, 2023 /PRNewswire/ -- The Sustainable Tourism Market size is expected to grow at a CAGR of 9.54% during the forecast period.

What is the projected size of the Sustainable Tourism Market in the next five years?

The Sustainable Tourism Market is projected to reach a value of 918 billion in 2027. Download Free Sample before buying

Key Highlights:

What are some of the major companies operating in the Sustainable Tourism Market? 

And Beyond Holdings Proprietary Ltd., Aracari Travel, Beyonder Experiences LLP, BOUTECO Ltd., Earth Changers, G Adventures, Global Himalayan Expedition, Intrepid Group, Kind Traveler PBC, Kynder, Mojosurf, NATIVE TOURS INC., Responsible Travel, Rickshaw Travel Ltd., Steppes Travel Ltd., The Blue Yonder, Undiscovered Mountains Ltd., Wild Frontiers Adventure Travel Ltd. and Wilderness Safaris

What kind of nature is the Sustainable Tourism Market?

The market is fragmented in nature.

How much is the YOY growth in 2023?

Market to observe 8.5% YOY growth in 2023.

Market Dynamics:

What are the main growth drivers for the Sustainable Tourism Market?

• Adoption of sustainable practices by major tourism firms drives global ecotourism market growth via supply chain sustainability efforts.
• Collaborative initiatives among multinational hotels and tourism companies enhance sustainability across diverse tourism sectors.
• Embracing sustainable reporting, large operators prioritize reducing environmental impact, and boosting market growth during the forecast period.

What trends are emerging in the Sustainable Tourism Market?

• The rise of eco-conscious travelers drives global ecotourism growth, driven by awareness of environmental impacts.
• International bodies like UNESCO, GSTC, and UNWTO foster sustainable tourism via standards, training, and policy advocacy.
• Initiatives like the Marrakech Task Force and Quebec Declaration are pivotal for market expansion by promoting sustainable tourism practices globally.

What are some of the challenges faced by the Sustainable Tourism Market?

• Limited implementation of sustainable tourism policies in developing countries hampers ecotourism growth by impeding conservation efforts and economic protection.
• Challenges persist in Indonesia and India due to a lack of suitable action plans despite set environmental targets and increasing awareness among lawmakers, potentially hindering ecotourism market growth.

The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report

How Can Sustainable Tourism Shape Tomorrow's Travel Landscape?

Sustainable Travel Solutions for Tomorrow's World

• Embracing eco-friendly accommodations and green hotels powered by renewable energy sources to redefine responsible tourism.
• Community-Centric Approach: Boost ethical wildlife tourism and community-based tourism to ensure conservation tourism initiatives thrive.
• Carbon-Neutral Transportation: Prioritizing sustainable transportation options for low-impact tourism while managing sustainable destination logistics.

Sustainability in Tourism: Nurturing Eco-Conscious Experiences

• Exploring eco-tourism and eco-friendly tours that embody sustainable cultural tourism, emphasizing green infrastructure in tourism hotspots.
• Sustainable Hospitality: Elevating the guest experience through climate-friendly tourism and sustainable adventure tourism.
• Responsible Operations: Championing socially responsible tourism practices and environmental certification for tourism excellence.

Empowering Sustainable Tourism Practices for Global Impact

• Pioneering sustainable event tourism and sustainable cruise tourism, showcasing eco-sensitive destinations for biodiversity conservation in tourism.
• Policy Implementation: Advocating for sustainable tourism policies and robust sustainable travel initiatives across the industry.
• Educating for Change: Committing to sustainable tourism education to drive widespread social and environmental awareness.

Keg Segments:

How is the Sustainable Tourism Market segmented by type?

The substantial growth in market share within the domestic segment of sustainable tourism is anticipated during the forecast period, driven by residents traveling within their country or region to minimize ecological impact and support local economies. Despite its current dominance and familiarity with policies, this segment may experience a decline due to developing countries shifting focus towards international sustainable tourism for increased foreign exchange earnings, despite the advantages of regional economic growth and the absence of currency exchange issues.

What are the different segments within the Sustainable Tourism Market?

The market is segmented by market segmentation by type (domestic and international) and geography (APAC, North America, Europe, Middle East and Africa, and South America).

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Advancing Sustainable Tourism: A Commitment to Responsible Travel Practices

In the realm of the global landscape, the demand for sustainable tourism experiences continues to rise, steering the travel industry towards eco-friendly accommodations and responsible practices. Green hotels, powered by renewable energy sources and employing green infrastructure, have become pivotal in meeting these expectations. These establishments strive for carbon-neutral transportation options, contributing to low-impact tourism and sustainable destination management.

Ethical wildlife tourism and community-based initiatives anchor the ethos of sustainable travel, fostering biodiversity conservation and respecting eco-sensitive destinations. Embracing environmentally certified tourism practices, responsible tour operators drive sustainable tourism development while integrating sustainable travel initiatives into their offerings.

Sustainable hospitality and climate-friendly tourism are key pillars in crafting memorable, eco-conscious travel experiences. They incorporate sustainability into every facet, from sustainable adventure and cultural tourism to events and cruise tourism, aligning with socially responsible tourism principles.

The journey towards sustainable tourism involves more than practices; it entails comprehensive sustainable tourism policies and ongoing sustainable tourism education to inspire and engage travelers and industry stakeholders alike. This commitment ensures that the tourism industry contributes positively to the environment, local communities, and global sustainability goals.

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TOC:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Type 

7 Customer Landscape

8 Geographic Landscape

9 Drivers, Challenges, and Trends

10 Vendor Landscape

11 Vendor Analysis

12 Appendix

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