Press release
Global Ecotourism Market To Witness Exponential Growth By 2027, Says Allied Market Research
Ecotourism Market
Shankar Bhandalkar, Lead Analyst, Team Lead-Research, Consumer Goods at Allied Market Research, highlighted, “The rise of travel and tourism to unique destinations has shown significant resilience globally. Iceland, Kenya, Palau, and Nepal are the trending hotspots in unique eco-tourism destinations travelled across.”
The global ecotourism market across North America is projected to exhibit the fastest CAGR throughout the forecast period.
According to the report, the market across Asia-Pacific dominated with the largest revenue share in 2019, owing to the presence of large number of millennial travelers in the region. At the same time, North America would grow at the fastest CAGR throughout the forecast period. This is due to large number of environment-conscious travelers and rapid adoption of digital media to travel to new destinations.
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The global ecotourism market is analyzed across traveler type, age group, sales channel, and region. Based on traveler type, the group segment accounted for nearly four-fifths of the total market share in 2019, and would retain its dominance during the forecast period. Several security concerns at new and unexplored destinations encourage people to travel in a group. This factor drives the segment growth. At the same time, the solo segment would portray the fastest CAGR of 15.9% from 2021 to 2027. This is attributed to the benefits of being in charge of the whole travel schedule, possibility of gathering new experiences, prospects to meet new people, and gaining a sense of empowerment altogether.
Based on age group, the generation Y segment contributed to the major share in 2019, generating nearly three-fifths of the global market, owing to high environmental consciousness and growing preference toward spending on unique experiences than on that of materialistic things. Simultaneously, the generation Z segment would portray the fastest CAGR of 15.6% from 2021 to 2027. Improvement of digital marketing strategies to attract customers and unique, interactive, and social experiences sought by travelers propel the segment growth.
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The global ecotourism market report includes a comprehensive analysis of the major market players such as Aracari Travel, FROSCH International Travel, Inc., Adventure Alternative, Travel Leaders Group, LLC, Steppes discovery, Small World Journeys Pty Ltd., Intrepid Group Limited, RICKSHAW TRAVEL GROUP, G Adventures, and Undiscovered Mountains Ltd.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to offer business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
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