Press release
Geotourism Market Report 2024: Sustainable Travel Trends and Global Growth
Geotourism Market Report
The new report published by The Business Research Company, titled Geotourism Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.
As per the report, the geotourism market size has grown strongly in recent years. It will grow from $668.9 billion in 2023 to $709.34 billion in 2024 at a compound annual growth rate (CAGR) of 6%. The geotourism market size is expected to see strong growth in the next few years. It will grow to $901.62 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%.
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What Is Driving The Growth Of The Global Geotourism Market?
Rising International Tourism Driving Growth In The Geotourism Market
The increasing number of international tourists is expected to propel the growth of the geotourism market going forward. International tourists are individuals who travel abroad for leisure, business, or other reasons, contributing to foreign economies through spending on various services and attractions. International tourism is rising due to increased travel accessibility, improved global connectivity, and a growing desire for cultural experiences and exploration. Geotourism is in demand among international tourists because it offers immersive experiences that highlight unique geological features, local cultures, and sustainable travel practices. For instance, in May 2023, according to the report published by the Office for National Statistics, a UK-based non-ministerial department, the UK saw 31.2 million visits in 2022, which was an increase of 24.9 million visits compared to 2021. Additionally, UK residents' trips abroad rose from 51.8 million in 2021 to 71.0 million in 2022. Therefore, the increasing number of international tourists is driving the growth of the geotourism market.
What Is The Key Trend In The Global Geotourism Market?
Technologically Advanced Geolocation Products Revolutionize The Geotourism Market
Major companies operating in the geotourism market are developing technologically advanced products, such as geolocation products, to enhance the travel experience by offering personalized and interactive tours. A geolocation product is a technology or service that determines and utilizes the precise geographic location of a device or user to provide location-based information and functionalities. For instance, in May 2024, OpenBet, a UK-based software company, launched the OpenBet Locator. Built on the backbone of Amazon Web Services (AWS), OpenBet's strategic cloud provider, OpenBet Locator is a low latency geolocation product designed to enable operators worldwide to accurately locate, promote to, and monitor customers while maintaining full compliance with regulatory requirements. Key features include fully flexible geo-fence management and high precision location tracking, fraud prevention with real-time VPN and location spoofing detection, player targeting for CRM, data analysis, and in-venue promotions, a multi-tenanted solution supporting a travelling wallet, and easy, flexible configuration options to streamline business operations workflows.
How Is The Global Geotourism Market Segmented?
The geotourism market covered in this report is segmented -
1) By Tour Type: Individual Travel, Professional Groups, Group Travels
2) By Tourism Type: Sustainable Tourism, Urban Geo-Tourism, Rural Geo-Tourism, Natural Tourism, Eco Geo-Tourism, Other Tourism Types
3) By Booking Channel: Phone Booking, Online Booking, In-Person Booking
4) By Direct Suppliers: Airlines, Hotel Companies, Car Rental, Train, Tour Operators, Government Bodies
5) By Application : Below 30 Years, 30-40 Years, 40-50 Years, Above 50 Years
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How Is The Competitive Landscape Of The Global Geotourism Market?
Major companies operating in the geotourism market are TUI AG, China CYTS Tours Holding Co. Ltd., Abercrombie & Kent Group, Intrepid Travel Pty Ltd., Backroads Inc., Mountain Travel Sobek, Natural Habitat Adventures, G Adventures Inc., Omega World Travel Inc., Butterfield & Robinson, World Expeditions, AAA Travel, Exodus Travels, JTB Americas Group, GeoEx Ltd., Adventure Life, Zegrahm Expeditions Inc., Naturetrek Ltd., National Geographic Expeditions, EcoTours International LLC, InnerAsia Travels, All Star Travel Group, Boundless Journeys Inc., AdventureSmith Explorations Inc., Wild Frontiers Ltd.
Contents Of The Global Geotourism Market
1. Executive Summary
2. Geotourism Market Report Structure
3. Geotourism Market Trends And Strategies
4. Geotourism Market - Macro Economic Scenario
5. Geotourism Market Size And Growth
…..
27. Geotourism Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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