Press release
Resort Planning Market Set to Reach $280.71 Billion by 2029 with 7.3% Yearly Growth
Resort Planning
The anticipated boom in international tourism is set to drive the resort planning market's expansion. Tourism, characterized by its social, cultural, and economic impact, entails people embarking on journeys to places outside their usual environment, either for personal pleasure or business commitments. Over the past decade, burgeoning disposable income, accessibility to diverse destinations, an intrinsic desire to explore and other factors have collectively contributed to a significant surge in global tourism. This escalation in world tourism would necessitate sophisticated yet ecologically conscious resort development, thereby escalating the need for resort planning, a service pivotal in enriching the tourists' experience with luxury. For example, the United Nations World Tourism Organization (UNWTO) reported in September 2024 that approximately 790 million tourists embarked on international trips within the first seven months of 2024, constituting an 11% growth in comparison with 2023. Thus, the predicted increment in worldwide tourism is poised to stimulate the demand for resort planning offerings during the prognosis period.
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What is the future CAGR of the resort planning market, and how will it impact industry expansion?
The market size for resort planning has experienced significant growth in recent years. It is projected to increase from $201.68 billion in 2024 to $211.95 billion in 2025, with a compound annual growth rate (CAGR) of 5.1%. The historical growth can be associated with various factors such as the expansion of the tourism industry, evolution of consumer preferences, emphasis on environmental preservation and sustainable tourism, governmental proactive measures and tourism policies, and global economic growth.
In the coming years, the resort planning market is poised to experience robust growth. The market is anticipated to expand to a whopping $280.71 billion by 2029, reflecting a compounded annual growth rate (CAGR) of about 7.3%. Such significant expansion during this forecast period can be largely credited to the soaring demand for luxury and wellness tourism, resurgence of eco-tourism, burgeoning interest in exceptional experiences, advancements in digital marketing and online reservation trends, as well as effective crisis recovery strategies and resilience. Trends projected to prevail during this period comprise cultural immersion and engagement with local communities, luxury sustainability and advent of eco-lodges, smart environmental design adoption, comprehensive event and wedding facilities, wellness retreats and distinct programs.
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What are the most significant trends transforming the resort planning market today?
One noticeable trend gaining traction in the resort planning market is strategic collaboration. This tactic is being utilized by significant firms in the market to tap into and explore fresh opportunities in the planning and production of upgraded resorts through mutual leverage of expertise, resources, and technology. These strategic alliances will also fortify their market standing and facilitate their expansion into fresh markets. For example, Marriott International, a Hospitality company based in the US, entered into a partnership with Eagle Hills, a private real estate investment and development enterprise from UAE in July 2024. Their collaboration's objective is to launch the Ritz-Carlton Reserve on Ramhan Island, an ambitious addition to the Arabian Gulf's luxury hospitality scene. The joint venture is intended to conceptualize a unique resort that accentuates wellness and sustainability. Eagle Hills is an Abu Dhabi-based private real estate investment and development firm located in the United Arab Emirates.
Which key market segments comprise the resort planning market and drive its revenue growth?
The resort planning market covered in this report is segmented -
1) By Type: Overall Planning, Partial Planning
2) By Application: Urban, Rural Areas
3) By End-User: Large Enterprises, Investment Agency
Subsegments:
1) By Overall Planning: Master Planning, Site Planning, Environmental Impact Assessment
2) By Partial Planning: Landscape Design, Facility Planning, Infrastructure Planning
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What regions are at the forefront of resort planning market expansion?
Western Europe was the largest region in the resort planning market share in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the resort planning market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the resort planning market?
Major companies operating in the resort planning market include Gensler Jr. & Associates Inc., Hellmuth Obata & Kassabaum Inc., Nikken Sekkei Komu Co Ltd., Leo A. Daly Company, EDSA Inc., CallisonRTKL Inc., Cooper Carry, Forrec Ltd., SB Architects Ltd., HKS Inc., Wilson Associates, Hirsch Bedner Associates, MHBC Planning, Urban Design & Landscape Architecture, Yabu Pushelberg, Humphreys & Partners Architects, M2Leisure, Nomadic Resorts, VITA Planning and Landscape Architecture, Affiniti Architects PA, Wimberly Allison Tong & Goo, International Place Design LLC, Smallwood Contracts Ltd., Ankenman Marchand Architects, Urban Resort Concepts Ltd., LandRun Studio LLC, Arcmax Architect, Resort Management Company, SE Group Ltd., WATG Urban, M. Arthur Gensler Jr. & Associates Inc., DiLeonardo International
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What Is Covered In The Resort Planning Global Market Report?
•Market Size Forecast: Examine the resort planning market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the resort planning market for a structured understanding.
•Key Players Overview: Analyze major players in the resort planning market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the resort planning market.
•Segment Contributions: Evaluate how different segments drive overall growth in the resort planning market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the resort planning market.
•Industry Challenges: Identify potential risks and obstacles affecting the resort planning market.
•Competitive Landscape: Review strategic developments in the resort planning market, including expansions, agreements, and new product launches.
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