Press release
Heritage Tourism Market Outlook 2024: Preserving Culture and Driving Global Travel Trends
Heritage Tourism Market Outlook
The new report published by The Business Research Company, titled Heritage Tourism 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 heritage tourism market size has grown strongly in recent years. It will grow from $573.34 billion in 2023 to $606.57 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The heritage tourism market size is expected to see strong growth in the next few years. It will grow to $771.50 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 Heritage Tourism Market?
Impact of Growing Interest in Historical Events on Heritage Tourism Market
The growing popularity of historical events is expected to propel the growth of the heritage tourism market going forward. Historical events refer to significant occurrences or actions from the past that have shaped or influenced the course of history, societies, or cultures. The growing popularity of historical events is attributed to enhanced educational resources, media representation, cultural trends, new research perspectives, and a desire to understand personal and societal contexts. Historical events enhance heritage tourism by providing compelling narratives and attractions that draw visitors, enrich their understanding of cultural heritage, and boost local economies. For instance, in January 2024, Historic England, a UK-based government agency, reported an 11% increase in visits to historic attractions in the UK in 2023 compared to 2022. Visits to places of worship more than doubled from the previous year, and revenue from historic attractions rose by 10% in 2023. Therefore, the growing popularity of historical events is driving the heritage tourism market.
What Is The Key Trend In The Global Heritage Tourism Market?
Transforming Heritage Tourism By Integrating Technology For Enhanced Travel Experiences
Major companies operating in the heritage tourism market are focusing on technology integration to enhance the travel experience through seamless booking systems, real-time updates, and mobile apps that provide intuitive navigation, personalized recommendations, and efficient access to local attractions. This strategy aims to deliver a more efficient, personalized, and enjoyable experience for travelers streamline the travel process, making it more convenient and tailored to individual preferences. For instance, in November 2021, Myheritage, an Israel based software development company, partnered with Expedia Group to launch heritage travel hub. It is a technology-driven platform that enhances heritage tourism by leveraging digital tools to help users discover their ancestry and create travel itineraries rooted in their family history. This platform provides a thorough resource, offering tailored recommendations for cultural landmarks, historical sites, and culinary experiences across different countries where users might have ancestral connections. .
How Is The Global Heritage Tourism Market Segmented?
The heritage tourism market covered in this report is segmented -
1) By Type: Cultural Heritage, Natural Heritage, Intangible Heritage
2) By Accommodation: Farm Stays, Cottage Rentals, Eco-Lodges, Homestays
3) By Age Group: 30 And Under, 31 To 50, 51 To 70, 71 And Above
4) By Booking Channel: Online, Offline
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How Is The Competitive Landscape Of The Global Heritage Tourism Market?
Major companies operating in the heritage tourism market are TUI AG, Booking Holdings Inc., Expedia Group Inc., Carlson Wagonlit Travel (CWT), Airbnb Inc., BCD Travel, TripAdvisor Inc., Abercrombie & Kent USA LLC, Intrepid Travel Ltd., Travel Leaders Group LLC, Kesari Tours Pvt. Ltd., Collette Travel Service Inc., GetYourGuide Deutschland GmbH, Tauck, G Adventures Inc., ATG Travel Worldwide B.V., Wanderlust Travel Pvt.Ltd., Exodus Travels Limited, National Geographic Partners LLC, Trafalgar Tours Limited, EF Go Ahead Tours, Heritage Expeditions Ltd., Martin Randall Travel Ltd., ACE Cultural Tours Ltd., Context Travel
Contents Of The Global Heritage Tourism Market
1. Executive Summary
2. Heritage Tourism Market Report Structure
3. Heritage Tourism Market Trends And Strategies
4. Heritage Tourism Market - Macro Economic Scenario
5. Heritage Tourism Market Size And Growth
…..
27. Heritage Tourism 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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