Press release
Sustainable Tourism Market Report, Size, Share, Growth, Trends, Industry Analysis, Forecast to 2033
Sustainable Tourism Market
The new report published by The Business Research Company, titled Sustainable 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 sustainable tourism market size has grown rapidly in recent years. It will grow from $2,861.68 billion in 2023 to $3,728.2 billion in 2024 at a compound annual growth rate (CAGR) of 14.6%. The sustainable tourism market size is expected to see rapid growth in the next few years. It will grow to $5,671.22 billion in 2028 at a compound annual growth rate (CAGR) of 14.7%.
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What Is Driving The Growth Of The Global Sustainable Tourism Market?
Surge In Eco-Conscious Travelers Fuels Expansion Of The Sustainable Tourism Market
The rise of eco-conscious travelers is expected to propel the growth of the sustainable tourism market going forward. Eco-conscious travelers are individuals who prioritize minimizing their environmental impact and supporting sustainable practices during their trips. The rise of eco-conscious travelers is primarily driven by growing awareness of environmental issues such as climate change, biodiversity loss, and pollution. This trend is also influenced by the availability of eco-friendly travel options, including sustainable accommodations, eco-tours, and responsible travel practices promoted by various organizations and governments globally. Eco-conscious travelers use sustainable tourism to reduce their environmental impact, support local cultures, and conserve resources by choosing eco-friendly accommodations and low-emission transport. For instance, in April 2022, according to a report on more than 30,000 travelers across 32 countries and territories by Booking.com B.V., a Netherlands-based online travel agency, 71% of UK travelers prioritize sustainable travel, with 42% influenced by recent climate change news to make more eco-friendly choices. Additionally, 33% have stayed in sustainable accommodations over the past year, and this is expected to increase by 62% over the next year. Therefore, the rise of eco-conscious travelers is driving the growth of the sustainable tourism market.
What Is The Key Trend In The Global Sustainable Tourism Market?
Focus On Eco-Friendly Accommodations And Infrastructure
Major companies operating in the sustainable tourism market are shifting toward eco-friendly accommodations and sustainable infrastructure, such as eco-conscious lodgings, to enhance their brand reputation, attract eco-conscious travelers, and capitalize on the growing demand for responsible travel options. Eco-conscious lodgings are accommodations designed to minimize environmental impact by incorporating energy-efficient systems, water-saving technologies, waste reduction practices, sustainable sourcing, green certifications, and community engagement. For instance, in May 2024, Eco Hotels, an India-based hospitality company dedicated to providing environmentally friendly accommodations, launched Eco Satva for eco-friendly accommodations and sustainable infrastructure. This net-carbon-zero hotel offers a purely vegetarian experience and integrates renewable energy sources and waste reduction practices. The Eco Satva is a significant milestone in the company's journey to expand sustainable hospitality solutions, reflecting its core values of environmental concern and meeting the growing demand for eco-conscious lodging options.
How Is The Global Sustainable Tourism Market Segmented?
The sustainable tourism market covered in this report is segmented -
1) By Type: Coastal Tourism, Mountain Tourism, Island Tourism
2) By Tourism Type: Domestic, International
3) By Booking Channel: Phone Booking, Online Booking, In Person Booking
4) By Application: Solo, Group, Family, Couples
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How Is The Competitive Landscape Of The Global Sustainable Tourism Market?
Major companies operating in the sustainable tourism market are Marriott International Inc., Booking.com B.V., Airbnb Inc., REI Adventures LLC, The Travel Corporation Ltd., TripAdvisor Inc., Contiki Holidays Ltd., Intrepid Travel Pty Ltd, G Adventures Inc., AndBeyond Holdings Proprietary Ltd., Gondwana Ecotours LLC, Tourism Holdings Limited, Backroads Inc., Natural Habitat Adventures Inc., Wildland Trekking Inc., Wilderness Safaris Pty Ltd, Topdeck Travel Ltd., Butterfield & Robinson Inc., Tucan Travel Ltd., Exodus Travels Ltd., Sustainable Travel International Inc., Responsible Travel Ltd., Kuoda Travel, Experience Travel Group Ltd., Aracari Travel Ltd., Wild Frontiers Adventure Travel Ltd., Beyonder Experiences LLP, Ecoventura S.A., Trafalgar Tours Ltd., Adventure Life Inc.
Contents Of The Global Sustainable Tourism Market
1. Executive Summary
2. Sustainable Tourism Market Report Structure
3. Sustainable Tourism Market Trends And Strategies
4. Sustainable Tourism Market - Macro Economic Scenario
5. Sustainable Tourism Market Size And Growth
…..
27. Sustainable Tourism Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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