Europe Museums Tourism Market is Anticipated to Expand at 20.0% CAGR Over the Forecast Period By 2032

The museum tourism is based on cultural heritage. The tourists visit museums for variety of reasons, such as to learn about the historic events, the development stage of industrialization, the development of human race, and the specific artefacts or to better understand and respect a culture.

Nowadays museums are also focusing on environmental sustainability The United Nations Brundtland Commission defined Sustainability as "meeting the needs of present without compromising the ability of future generations to meet their own needs." Museum play a role in building awareness about sustainability in environment. Museums enhance the quality of life for everyone and balance the interest of different generations. Museums devotes various resources honoring the legacy of years of generations.

As a result, museums are conducting various events and exhibitions on environmental sustainability. Also there are certain museums build with structure showcasing environment sustainability such as Museu do Amanha in Brazil opened in 2015 designed with sustainability aspects. It generates energy from solar panel that move with the sun and air conditioning system that generates power from the water of Guanabara Bay. The Museum Association is campaigning for the museums to be environmentally sustainable. The museums addressing environmental sustainability along with cultural heritage may boost the museum tourism market.

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As such, the global museum tourism market is estimated to expand at a CAGR of over 13.0% throughout the forecast period of 2022-2032, to be valued at US$ 35.0 Bn by the end of 2032.

Key Takeaways from the Museum Tourism Market Study

Museum and galleries may have a high a number of visits in post Covid situations. In case of tourist type there will be high number of international tourist to travel to the art and heritage museums in museum tourism industry. Free entry museums are attracting the higher proportion of tourist across the world. In terms of tourist type family tours are more likely to attend visits to the museums.
In terms of consumer orientation, the women segment is expected to hold a significant share in 2021 and is expected to expand at a rapid rate during the projected period, as compared to other segments.
Impact of COVID-19 on the Market

In fiscal year 2020, the COVID-19 epidemic had a negative impact on museum tourism market globally. According to the UNESCO around 90% of museums around the world has faced temporary closure as a part of covid-19 measures. The measures taken by the government of every country to control the spread of virus directly impacted state funding for museums. Furthermore, the closing of borders and drastic decrease in cultural tourism has affected museum tourism drastically.
According to Network of European Museum Organization (NEMO) survey 30% museums lose up to 1000 Euro per week and 25% of the museums lose up to 5000 Euro a week, 13% museums lose up to 30000 Euro a week and 5% museums lose over 50000 Euro a Week. The big museum in Europe such as the Rijksmuseum, The Kunsthistorisches Museum Vienna, the Stedelijk Museum lose between 100.000 Euro and 600.000 Euro per week. Many museums placed their future long term infrastructure projects on hold.

Who is winning?

Leading manufacturers of Museum tourism are focused on promotional strategies, upgradations and technological development, and new merger strategies that have driven sales growth of museum tourism globally.

Major players present in the museum tourism market are Louvre Museum, National Museum of China, Russian Museum, Multimedia Art Museum, Metropolitan Museum of Art, Tate Modern, The British Museum, Shanghai Museum, National Air and Space Museum, London Science Museum, National Museum of Natural History, Art Institute of Chicago, The Vatican Museum are among others.

Get More Valuable Insights

Future Market Insights, in its new offering, provides an unbiased analysis of the global museum tourism market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the museum tourism market based on the Museum Type (Art Museum, History Museum, National Museum, Science Museum, Others), Booking Channel (Online Booking & In Person Booking) Tourist Type (Domestic & International) Tour Type (Independent Traveller, Group Trip, Family trip, Student Trip) Consumer Orientation (Men, Women & Children) Age Group (15-25 Years, 26-35 Years, 36-45 Years, 46-55 Years, 66-75 Years) across seven major regions.

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Global Museums Tourism Market by Category

By Museum Type, Global Museums Tourism Market is segmented as:
Art Museum
History Museum
National Museum
Science Museum
Others

By Booking Channel, Global Museums Tourism Market is segmented as:
Online Booking
In Person Booking

By Tourist Type, Global Museums Tourism Market is segmented as:
Domestic
International
By Tour Type, Global Museums Tourism Market is segmented as:
Independent Traveler
Group Trip
Family trip
Student trip

By Consumer Orientation, Global Museums Tourism Market is segmented as:
Men
Women
Children

By Age Group, Global Museums Tourism Market is segmented as:
15-25 Years
26-35 Years
36-45 Years
46-55 Years
66-75 Years

By Region, Global Museums Tourism Market is segmented as:
North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA

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This release was published on openPR.