Consumer Goods

Sustainable Tourism Market

Global Industry Analysis and Forecast 2023-2030

Pages : 120

Base Year : 2022

Released Year : February 2024

Format :Pdf Ppt Xls

Report ID:KR442

Author : Priyanka V.

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Base Year

2022

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Forecast Year

2023-2030

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Historical Years

2018-2021

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Market Value (2022)

USD 1.21 Billion

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Forecasted Value (2030)

USD 6.06 Billion

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CAGR (2023 - 2030)

22.40%

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Fastest Growing Region (2023 - 2030)

Asia Pacific

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Largest Region

Europe

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By Type

Ecological Tourism, Eco Tourism/ Green Tourism, Soft Tourism, Community Tourism.

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By Tourism Type

Domestic, International.

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By Booking Channel

Phone Booking, Online Booking, In Person Booking.


Market Perspective

The global Sustainable Tourism Market was valued at USD 1.21 Billion in 2022 and is projected to reach USD 6.06 Billion by 2030, growing at a CAGR of 22.40% from 2023 to 2030.

Sustainable tourism has gained significant growth in recent years as more travelers become aware of the impact of tourism on the environment and local communities. This growing awareness has led to a shift in the travel industry, with a greater emphasis on sustainable practices and responsible travel. In response to this demand, many destinations and businesses are now focusing on offering sustainable tourism experiences that minimize negative environmental and social impacts while maximizing the positive benefits for both visitors and local residents.

This shift towards sustainable tourism has resulted in the development of eco-friendly accommodations, such as eco-lodges and green hotels, which prioritize energy efficiency and waste reduction. Additionally, local communities are actively involved in the planning and decision-making processes of tourism development, ensuring that their cultural heritage and natural resources are preserved. By adopting sustainable practices, the travel industry not only contributes to environmental conservation but also supports the economic well-being of local communities, creating a win-win situation for both travelers and destinations.

Analyst’s Review on Sustainable Tourism Market

The global sustainable tourism market has experienced significant growth in recent years, driven by increasing awareness and demand for environmentally-friendly travel options. This trend has been further fueled by growing concerns over the impact of traditional tourism on the environment and local communities. As a result, many countries and companies have implemented various initiatives and strategies to promote sustainable tourism practices. For instance, several countries such as Kenya, Australia, Sweden, and others have introduced eco-tourism certifications and labels to ensure that tourists can easily identify and choose sustainable accommodations and tour operators. These certifications not only benefit the environment but also contribute to the local economy by supporting small businesses and communities. In addition to eco-tourism certifications, some countries have also implemented regulations to limit the number of tourists allowed in certain areas to prevent overcrowding and preserve natural resources. Furthermore, companies in the tourism industry have started incorporating sustainability into their operations by adopting eco-friendly practices such as waste reduction, energy conservation, and promoting local products and services. These efforts not only help protect the environment but also create a positive image for the destination, attracting conscious travelers who are willing to support sustainable tourism practices. Overall, the shift with regards to sustainable tourism is a promising step for preserving the planet and benefiting local communities.

Market Definition

Sustainable tourism, also known as responsible tourism or eco-tourism, is a growing trend in the travel industry. It refers to a form of tourism that focuses on minimizing negative impacts on the environment, supporting local communities, and promoting cultural preservation. This type of tourism aims to strike a balance between the economic benefits of tourism and the preservation of natural resources while promoting social and cultural awareness. As travelers become more conscious of their impact on the planet, the demand for sustainable tourism experiences continues to rise.

Furthermore, travel enthusiasts are actively seeking destinations that offer environmentally friendly accommodations, locally sourced and organic food choices, and opportunities for engaging with local communities. This change in travel preferences has sparked a rise in sustainable tourism initiatives worldwide, including the establishment of eco-friendly lodges and the promotion of responsible wildlife tourism. Governments and tourism organizations alike have acknowledged the significance of sustainable tourism and are introducing policies and regulations to support its advancement and prosperity. Ultimately, sustainable tourism not only contributes to environmental preservation and the well-being of local communities, but it also offers travelers a more genuine and gratifying travel experience.

Market Dynamics

Increasing ecological awareness among consumers has become a significant driving force behind the rapid growth of the global sustainable tourism market. With growing concerns about the environment and the need to preserve natural resources, travelers are now seeking destinations and experiences that align with their values. This shift in consumer behavior has led to a surge in the demand for sustainable tourism options, prompting the industry to respond with innovative and eco-friendly offerings.

The industry has shown its response to sustainable tourism through various initiatives, such as the creation of eco-lodges that aim to reduce their environmental footprint by utilizing renewable energy sources and incorporating sustainable construction materials. Additionally, tour operators have started offering eco-tours that focus on educating travelers about local ecosystems and conservation efforts. This increased awareness has also led to collaborations between tourism organizations and environmental NGOs, working together to promote responsible and sustainable tourism practices. Overall, the growing importance of ecological awareness in the tourism industry has created new opportunities for sustainable businesses and has the potential to drive positive change for both the environment and local communities.

However, limited awareness and understanding of sustainable tourism principles among travelers is hampering the growth of the global sustainable tourism market. This lack of awareness often leads to tourists making choices that have negative impacts on the environment and local communities. For instance, many travelers may unknowingly support businesses that exploit natural resources or contribute to pollution. Without a comprehensive understanding of sustainable tourism, tourists are less likely to prioritize environmentally friendly practices and instead opt for convenience and affordability. This disconnect between travelers' actions and the principles of sustainable tourism creates a significant barrier, thereby aiding the growth of the global sustainable tourism market.

Segmentation Analysis

The global sustainable tourism market is segmented based on type, tourism type, booking channel, and geography.

Based on type, the Sustainable tourism market is bifurcated into ecological tourism, eco-tourism green tourism, soft tourism, and community tourism. The Eco-tourism/ green tourism segment is held the largest market share in 2022. This growth is attributed to rising global concerns related to the environment and a desire to preserve natural resources, ecotourism focuses on minimizing the negative impact on the environment while promoting conservation and sustainable practices. This type of tourism allows travelers to experience and appreciate natural habitats, wildlife, and cultural heritage, while also supporting local communities and economies. Overall, ecotourism offers a responsible and ethical way for individuals to explore and enjoy the world while contributing to its preservation.

Based on tourism type, the Sustainable tourism market is bifurcated into domestic & international. The domestic segment has accounted for the highest market share in 2022, as domestic tourism offers convenience and affordability to travelers. With shorter travel distances and lower costs compared to international travel, domestic tourism appeals to a wider range of individuals, including families and budget-conscious travelers. Additionally, domestic tourism allows for a deeper connection with one's own country, culture, and heritage, fostering a sense of national pride and appreciation. This emphasis on local exploration and support for local businesses is also contributing to the sustainability aspect of domestic tourism

Geographical Analysis

Based on region, the global sustainable tourism market is classified into North America, Europe, Asia Pacific, MEA, and Latin America.

Europe has dominated the sustainable tourism market in 2022, as the continent has a long history of valuing and preserving its natural and cultural heritage, which has laid a strong foundation for sustainable tourism practices. Additionally, many European countries have implemented strict environmental regulations and conservation efforts, ensuring that their tourism industry operates in an eco-friendly manner. Furthermore, Europe's well-developed infrastructure and efficient transportation networks make it easier for tourists to access and explore sustainable destinations. Moreover, the continent's diverse landscapes, ranging from pristine beaches to picturesque mountains, further contribute to its appeal as a sustainable tourism hotspot.

The Asia-Pacific sustainable tourism market is projected to experience rapid growth, fueled by its rich cultural and natural heritage, which attracts a large number of tourists seeking unique experiences. Furthermore, governments and organizations in this region have acknowledged the potential for sustainable tourism and have undertaken substantial measures to foster its development. These include investments in eco-friendly infrastructure, the implementation of stringent environmental regulations, and the support of community-based tourism initiatives. As a result, the expanding middle class in countries like China and India has contributed to a rise in both domestic and international travel, thus propelling the growth of sustainable tourism in the Asia-Pacific region.

Competitive Landscape

The global sustainable tourism market study will provide valuable insights with an emphasis on the fragmented nature of the industry. Prominent players are focusing on several key business strategies, such as partnerships, mergers & acquisitions, product innovations, and joint ventures to expand their product portfolio and increase their market shares across different regions. Expansion & investments are the major strategic initiatives adopted by companies in this sector. Industry players are investing extensively in R&D activities, building new manufacturing facilities, and supply chain optimization. The major players in the Sustainable tourism market are:

Key Developments:

  • September 2022 (Investment): The Secretary-General of the United Nations, António Guterres, praised the potential of tourism to promote sustainable development as well as emphasized the need for increased investment in clean and sustainable tourism, the generation of quality employment opportunities, and the implementation of measures that guarantee the equitable distribution of profits to host countries and local communities.

The global Sustainable Tourism Market is segmented as:

By Type

  • Ecological Tourism
  • Eco Tourism/ Green Tourism
  • Soft Tourism
  • Community Tourism

By Tourism Type

  • Domestic
  • International

By Booking Channel

  • Phone Booking
  • Online Booking
  • In Person Booking

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • UK
    • Spain
    • Germany
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • North Africa
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America
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Frequently Asked Questions (FAQ's)
The global sustainable tourism is projected to reach USD 6.06 billion by 2030, growing at a CAGR of 22.40% from 2023 to 2030.
The global sustainable tourism market was valued at USD 1.21 billion in 2022.
The major driving factor for the market growth are growing environmental awareness, and rising number of eco-friendly accomodations.
Top manufacturers of Sustainable Tourism market are Aracari Travel, Beyonder Experiences LLP, BOUTECO Ltd., Earth Changers, G Adventures, Global Himalayan Expedition, Intrepid Group, Kind Traveler PBC, Kynder, and Wilderness Safaris, among others.
Asia-Pacific is the fastest growing region in the forecasted period (2023-2030).
By type, eco-tourism/ green tourism segment will hold the maximum share in the Sustainable Tourism market in forecast period.
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