Press release
Global Heritage Tourism Market to Reach $817.52 Billion by 2029, Growing at 6.1% CAGR
Heritage Tourism
The growing popularity of historical events is expected to drive the heritage tourism market. Interest in historical events, fueled by education, media, and cultural trends, is increasing. Heritage tourism offers compelling narratives and attractions related to these events, enriching visitors' understanding of cultural heritage. Historic England reported in January 2024 that visits to historic sites in the UK grew by 11% in 2023, demonstrating the rise in heritage tourism demand.
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How will the growth rate of the heritage tourism market shape industry trends by 2034?
The heritage tourism market has expanded steadily, forecasted to grow from $606.57 billion in 2024 to $645.77 billion in 2025 at a CAGR of 6.5%. Factors driving past growth include increased affordability of tour packages, rising demand for immersive travel experiences, enhancements in visitor experiences at heritage sites, and growing awareness of cultural preservation and sustainable tourism.
The heritage tourism market is projected to expand to $817.52 billion by 2029 with a CAGR of 6.1%, propelled by the growing popularity of cultural festivals, religious tourism, and educational travel. Economic contributions and government initiatives further boost market growth. Trends include the use of AR/VR to enhance visitor experiences, the adoption of sustainable tourism practices, the development of customized heritage tours, and advancements in digital heritage platforms.
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What trends are poised to drive the future success of the heritage tourism market?
Companies in the heritage tourism market are increasingly adopting digital engagement tools like interactive mobile apps to enhance visitor experiences. These apps offer real-time information, guided tours, and augmented reality features to bring historical sites to life. For instance, in March 2023, VisitScotland launched the Scotland's Stories app, allowing users to explore historical sites with interactive maps and audio guides. The app also enables social media integration and user-generated content, enhancing engagement with visitors.
Which primary segments of the heritage tourism market are driving growth and industry transformations?
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
Subsegments:
1) By Cultural Heritage: Historic Sites And Monuments, Museums And Art Galleries, Traditional Festivals And Events, Religious And Sacred Sites, Architectural Heritage Tours
2) By Natural Heritage: National Parks And Protected Areas, World Heritage Natural Sites, Eco-Tourism And Wildlife Tours, Geoparks And Natural Landmarks, Conservation Areas And Biodiversity Reserves
3) By Intangible Heritage: Traditional Performing Arts (Dance, Music, Theater), Culinary Traditions And Food Tours, Oral Histories And Storytelling, Rituals, Festivals, And Customs, Traditional Crafts And Handicrafts
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Which geographical regions are pioneering growth in the heritage tourism market?
Asia-Pacific was the largest region in the heritage tourism market in 2023. Middle East is expected to be the fastest-growing region in the forecast period. The regions covered in the heritage tourism market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the influential players reshaping the heritage tourism market landscape?
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
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What Is Covered In The Heritage Tourism Global Market Report?
•Market Size Forecast: Examine the heritage tourism market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the heritage tourism market for a structured understanding.
•Key Players Overview: Analyze major players in the heritage tourism market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the heritage tourism market.
•Segment Contributions: Evaluate how different segments drive overall growth in the heritage tourism market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the heritage tourism market.
•Industry Challenges: Identify potential risks and obstacles affecting the heritage tourism market.
•Competitive Landscape: Review strategic developments in the heritage tourism market, including expansions, agreements, and new product launches.
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