SAVE Tourism Market to Witness High Demand with Growth Rate of 5.8%

"The SAVE tourism companies have been making the most out of online platform. With the rise in rate of internet penetration, companies and tour operators are stressing on key social media marketing activities and online booking platforms."

Global SAVE tourism market size was valued at $69.5 Billion in 2018, and is projected to reach $106.9 Billion by 2026, growing at a CAGR of 5.8% from 2019 to 2026. In 2018, Europe accounted for nearly 41.7% share of the SAVE tourism market.

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SAVE is a tourism concept, which adopts an approach that combines the demand for market and supply of four untapped verticals-Scientific, Academic, Volunteer, and Education aimed at tourism specifically. The market serves as a prime resource connecting NGOs, municipalities, and local businesses with customer supply, market exposure, and necessary funding. Travel is a way to learn, explore, help, and grow. Considering the SAVE tourism concept, it is essential that travelers and their travels make a positive impact on the destination they visit and help the place grow and maintain its uniqueness. Those attracted to SAVE tourism tend to be interested inactivities, which can be readily geared to cultural and natural heritage preservation efforts and that contribute to the improvement of local lives.

The SAVE tourism market has witnessed higher adoption from travelers in North America as well as Europe. However, there is lack of awareness of this concept in some of the major parts of Asia-Pacific as well as LAMEA, which is attributable to some of the low performing macro-economic factors. Thus, lack of awareness of such tours results in lower value share in the global SAVE tourism market. This in turn limits the SAVE tourism market growth.

There has been an increase in number of travelers in various social media sites with the rise in internet penetration. Taking this into consideration, most of the organizations active in the community wellness and agencies involved in the market strategize on promoting such special tours on these social media platforms. Thus, through social media marketing strategy, the global SAVE tourism market demand sights critical opportunity in gaining traction and eventually increase its reach among its target customers.

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SAVE Tourism Market Segments:

By Type
o Scientist
o Academic
o Volunteer
o Education

By Sales Channel
o Travel Agent
o Online

By Region
o North America
o Europe
o Asia-Pacific
o LAMEA

Major market players

o ABTA Ltd.
o ATTITUDE HOSPITALITY LTD (AHL)
o Bookdifferent
o Caribtours Ltd
o Deutsche Gesellschaft f?r Internationale Zusammenarbeit (GIZ) GmbH
o Fair Trade Tourism
o Four Communications
o NECSTouR
o Responsible Vacation
o The travel foundation
o Tui Group
o we-are.travel GmbH

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Source: https://www.prnewswire.com/news-releases/save-tourism-market-to-garner-106-9-bn-globally-by-2026-at-5-8-cagr-says-allied-market-research-300930541.html

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