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Alternative Tourism Market Size, Industry Growth, Trends And Forecast 2024-2033
Alternative Tourism Market Size
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According to The Business Research Company's, The alternative tourism market size has grown steadily in recent years. It will grow from $91.25 billion in 2023 to $94.58 billion in 2024 at a compound annual growth rate (CAGR) of 3.6%. The growth in the historic period can be attributed to increasing awareness of environmental and cultural preservation, demand for authentic travel experiences, the desire for sustainable development, growing interest in eco-friendly and ethical travel options, and need for economic support in local communities.
The alternative tourism market size is expected to see steady growth in the next few years. It will grow to $110.37 billion in 2028 at a compound annual growth rate (CAGR) of 3.9%. The growth in the forecast period can be attributed to the increasing popularity of digital and social media marketing, rising government and industry support for sustainable travel initiatives, growing demand for personalized and unique travel experiences, enhanced accessibility and infrastructure in emerging destinations, ongoing global emphasis on responsible and eco-friendly tourism practices. Major trends in the forecast period include expansion of adventure and niche travel segments, heightened interest in cultural and heritage tourism, integration of technology such as virtual reality for immersive experiences, growing adoption of digital and mobile platforms for booking and promoting travel, and surge in community-based and local tourism initiatives.
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Market Drivers and Trends:
The rising number of international travelers is expected to drive the alternative tourism market going forward. International travelers are people who cross national borders for activities such as tourism, business, or education. The number of international travelers is rising due to better global connectivity, higher disposable incomes, and an increased interest in diverse experiences. International travelers support local economies, preserve cultural heritage, and promote environmental conservation by choosing alternative tourism options. For instance, in February 2024, according to the International Trade Administration, a US-based government resource, the overall number of international visitors to the United States is expected to rise to 77.7 million in 2024, an increase of 10.4 million, or 15.4%, from the 67.3 million visitors recorded in 2023. Therefore, increasing international travelers will drive the alternative tourism market.
Major companies operating in the alternative tourism market are focused on technological advancements, such as authentic ecotours, to enhance the travel experience with immersive, environmentally friendly activities while promoting sustainable practices and supporting local communities. Authentic ecotours offer immersive travel experiences in natural settings that prioritize environmental conservation, respect for local cultures, and support for community-based initiatives. For instance, in April 2023, MEET Network, a Spain-based travel arrangements association, and Intrepid, an Australia-based travel company, launched an authentic 9-day expedition in Albania. This eco-friendly adventure is perfect for travelers who want to explore remote regions while supporting local communities and conservation. The tour includes visiting Divjak-Karavasta National Park, focusing on its biodiversity protection efforts.
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Major Key Players of the Market:
The Travel Corporation, City Experiences, Abercrombie & Kent USA LLC, Intrepid Travel Pty Ltd, TourRadar GmbH, G Adventures Inc., Viator Inc., Zicasso Inc., Secret Food Tours, Eating Europe Food Tours, Food Tour Corporation, Greaves Travel Ltd, The International Kitchen, Culinary Backstreets, India Food Tour, Classic Journeys LLC, Context Travel, Epicurean Ways LLC, Gourmet on Tour, The FTC4Lobe Group
Alternative Tourism Market 2024 Key Insights:
• The alternative tourism market size is expected to see steady growth in the next few years. It will grow to $110.37 billion in 2028 at a compound annual growth rate (CAGR) of 3.9%.
• Growth In International Travelers To Boost Alternative Tourism Market Expansion
• Innovative Sustainable Ecotours Drives Alternative Tourism
• Europe was the largest region in the alternative tourism market in 2023
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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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