Ecotourism Industry Market Trends and Global Analysis Report 2024

"The Business Research Company recently released a comprehensive report on the Global Ecotourism Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The ecotourism market size has grown rapidly in recent years. It will grow from $219.53 billion in 2023 to $249.16 billion in 2024 at a compound annual growth rate (CAGR) of 13.5%. The growth in the historic period can be attributed to demand for authentic experiences, government initiatives and policies, rise of responsible travel, conservation of biodiversity, educational components.

The ecotourism market size is expected to see rapid growth in the next few years. It will grow to $428.97 billion in 2028 at a compound annual growth rate (CAGR) of 14.5%. The growth in the forecast period can be attributed to rise of regenerative travel, climate-positive tourism initiatives, digital platforms for eco-experiences, green finance and investment, inclusive and diverse ecotourism. Major trends in the forecast period include tech integration for sustainable tourism, plastic-free initiatives and waste reduction, global collaboration for conservation, digital platforms for eco-experience, partnerships with conservation organizations.

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Market Drivers and Trends:

The growing availability of eco-friendly tourist accommodations is expected to propel the growth of the ecotourism market going forward. The eco-friendly tourist accommodation is environmentally sustainable and follows the practices of green living to ensure non-toxic, safe, and energy-efficient accommodation for tourists. The hotels are adopting ecologically friendly designs and operations such as lowering pollutant emissions, and conserving water and energy, procuring green goods to promote ecotourism. For instance, in June 2022, according to the U.S. Department of Commerce, a US-based government administration, in 2021 the number of international visitors to the US has increased to 22.1 million. Therefore, the growing availability of eco-friendly tourist accommodation is promoting the ecotourism market.

Strategic partnerships and collaborations have emerged as a key trend gaining popularity in the ecotourism market. Key players operating in the market are focusing on partnerships and collaborations to enhance their position. For instance, in October 2021, Frosch International Travel, a US-based travel agency that provides sustainable tourism services, purchased 51% interest in Conlin Travel's corporate division. The collaboration aims to give FROSCH a foothold in the Great Lakes region and Conlin Travel access to crucial resources and infrastructure, as well as Frosch's unique technology solutions for clients. Conlin Travel is a US-based travel agency.

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Major Key Players of the Market:

Marriott International Inc., TUI Group, Booking Holdings Inc., Airbnb Inc., Accor S.A., Kynder Travel, BCD Travel, andBeyond, G Adventures Ltd., JTB Corporation, Goway Travel Ltd., Natural Habitat Adventures, Travel Leaders Group, Intrepid Group Ltd., National Geographic Partners LLC, Responsible Travel, Small World Journeys Ltd., SteppesTravel Ltd., Rickshaw Travel, Experience Travel Group, Adventure Alternative Ltd., Aracari Travel, Undiscovered Mountains, Conservation Capital LLC, Nature Discovery, Baobab Tourism, NuMundo, New Worlder Journeys, Gondwana Ecotours, Byway Travel, Earth Changers, Hilton Worldwide Holdings Inc., InterContinental Hotels Group PLC, Expedia Group Inc., TripAdvisor Inc., American Express Global Business Travel, Flight Centre Travel Group Limited

Ecotourism Market 2024 Key Insights:

• The ecotourism market size is expected to see rapid growth in the next few years. It will grow to $428.97 billion in 2028 at a compound annual growth rate (CAGR) of 14.5%.
• Rising Demand For Eco-Friendly Tourist Accommodations Drives Growth In The Ecotourism Market
• Strategic Partnerships And Collaborations Fueling Growth In Ecotourism Market
• North America was the largest region in the ecotourism market share in 2023

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