Dublin, Nov. 01, 2024 (GLOBE NEWSWIRE) -- The "Geotourism Market Report 2024" has been added to ResearchAndMarkets.com's offering.
The geotourism market size has grown strongly in recent years, from $668.9 billion in 2023 to $709.34 billion in 2024 at a compound annual growth rate (CAGR) of 6%. The growth can be attributed to the increasing popularity of nature-based and off-the-beaten-path travel, the rising availability of eco-friendly accommodations, the expansion of international travel and tourism markets, the growing trend of digital nomadism and remote working, and the influence of social media and travel influencers.
The geotourism market size is expected to see strong growth in the next few years, to $901.62 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to the increasing awareness of environmental conservation, the rise in eco-friendly travel preferences, growing interest in sustainable and responsible tourism, expansion of adventure travel activities, and higher disposable income and consumer spending on travel.
Major trends expected in the forecast period include the development of new geotourism destinations, technological advancements in travel and booking platforms, enhanced marketing and promotion of geotourism locations, collaborations between tourism operators and local communities, and improvements in transportation infrastructure to remote areas.
The increasing number of international tourists is anticipated to drive the growth of the geotourism market in the future. The rise in international tourism is attributed to factors such as better travel accessibility, enhanced global connectivity, and a heightened interest in cultural experiences and exploration. Geotourism is gaining popularity among international tourists as it provides immersive experiences that emphasize unique geological features, local cultures, and sustainable travel practices. For example, a report from the Office for National Statistics, a UK-based non-ministerial department, revealed in May 2023 that the UK experienced 31.2 million visits in 2022, a significant increase from 24.9 million visits in 2021. Moreover, UK residents' trips abroad rose from 51.8 million in 2021 to 71 million in 2022. This growth in international tourism is fueling the expansion of the geotourism market.
Leading companies in the geotourism market are creating advanced products such as geolocation technology to enhance the travel experience with personalized and interactive tours. A geolocation product is a technology or service that uses precise geographic location data to offer location-based information and features. For instance, in May 2024, OpenBet, a UK-based software company, introduced the OpenBet Locator. Powered by Amazon Web Services (AWS), OpenBet Locator is a high-precision geolocation tool designed to help operators globally accurately track, promote to, and monitor customers while ensuring regulatory compliance. It includes features such as flexible geo-fence management, high-precision location tracking, real-time fraud prevention for VPN and location spoofing, CRM targeting, data analysis, and promotions, as well as multi-tenanted support for a traveling wallet and configurable options for streamlined business operations.
In March 2021, Intrepid Travel, an Australian travel company, entered into a partnership with Genairgy with the aim of becoming a $1 billion adventure travel company. This partnership is set to advance Intrepid Travel's growth strategy across four key areas, digital transformation, product innovation, market expansion, and purpose-driven initiatives. The collaboration is part of Intrepid's plan to reach its goal of becoming the first $1 billion adventure travel company by 2025. Genairgy is a geotourism company based in France.
Major companies operating in the geotourism market are TUI, China CYTS Tours., Abercrombie & Kent Group, Intrepid Travel, Backroads, Mountain Travel Sobek, Natural Habitat Adventures, G Adventures, Omega World Travel, Butterfield & Robinson, World Expeditions, AAA Travel, Exodus Travels, JTB Americas Group, GeoEx, Adventure Life, Zegrahm Expeditions, Naturetrek, National Geographic Expeditions, EcoTours International, InnerAsia Travels, All Star Travel Group, Boundless Journeys, AdventureSmith Explorations and Wild Frontiers.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Markets Covered:
- By Tour Type: Individual Travel; Professional Groups; Group Travels
- By Tourism Type: Sustainable Tourism; Urban Geo-Tourism; Rural Geo-Tourism; Natural Tourism; Eco Geo-Tourism; Other Tourism Types
- By Booking Channel: Phone Booking; Online Booking; In-Person Booking
- By Direct Suppliers: Airlines; Hotel Companies; Car Rental; Train; Tour Operators; Government Bodies
- By Application: Below 30 Years; 30-40 Years; 40-50 Years; Above 50 Years
Key Companies Mentioned: TUI AG; China CYTS Tours Holding Co. Ltd.; Abercrombie & Kent Group; Intrepid Travel Pty Ltd.; Backroads Inc.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $709.34 Billion |
| Forecasted Market Value (USD) by 2028 | $901.62 Billion |
| Compound Annual Growth Rate | 6.2% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Geotourism Market Characteristics
3. Geotourism Market Trends and Strategies
4. Geotourism Market - Macro Economic Scenario
5. Global Geotourism Market Size and Growth
5.1. Global Geotourism Market Drivers and Restraints
5.2. Global Geotourism Historic Market Size and Growth, 2018-2023, Value ($ Billion)
5.3. Global Geotourism Forecast Market Size and Growth, 2023-2028, 2033F, Value ($ Billion)
6. Geotourism Market Segmentation
6.1. Global Geotourism Market, Segmentation by Tour Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Individual Travel
- Professional Groups
- Group Travels
6.2. Global Geotourism Market, Segmentation by Tourism Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Sustainable Tourism
- Urban Geo-Tourism
- Rural Geo-Tourism
- Natural Tourism
- Eco Geo-Tourism
- Other Tourism Types
6.3. Global Geotourism Market, Segmentation by Booking Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Phone Booking
- Online Booking
- in-Person Booking
6.4. Global Geotourism Market, Segmentation by Direct Suppliers, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Airlines
- Hotel Companies
- Car Rental
- Train
- Tour Operators
- Government Bodies
6.5. Global Geotourism Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Below 30 Years
- 30-40 Years
- 40-50 Years
- Above 50 Years
7. Geotourism Market Regional and Country Analysis
7.1. Global Geotourism Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Geotourism Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8. Asia-Pacific Geotourism Market
9. China Geotourism Market
10. India Geotourism Market
11. Japan Geotourism Market
12. Australia Geotourism Market
13. Indonesia Geotourism Market
14. South Korea Geotourism Market
15. Western Europe Geotourism Market
16. UK Geotourism Market
17. Germany Geotourism Market
18. France Geotourism Market
19. Italy Geotourism Market
20. Spain Geotourism Market
21. Eastern Europe Geotourism Market
22. Russia Geotourism Market
23. North America Geotourism Market
24. USA Geotourism Market
25. Canada Geotourism Market
26. South America Geotourism Market
27. Brazil Geotourism Market
28. Middle East Geotourism Market
29. Africa Geotourism Market
30. Geotourism Market Competitive Landscape and Company Profiles
30.1. Geotourism Market Competitive Landscape
30.2. Geotourism Market Company Profiles
- TUI AG
- China CYTS Tours Holding Co. Ltd.
- Abercrombie & Kent Group
- Intrepid Travel Pty Ltd.
- Backroads Inc.
31. Geotourism Market Other Major and Innovative Companies
- Mountain Travel Sobek
- Natural Habitat Adventures
- G Adventures Inc.
- Omega World Travel Inc.
- Butterfield & Robinson
- World Expeditions
- AAA Travel
- Exodus Travels
- JTB Americas Group
- GeoEx Ltd.
- Adventure Life
- Zegrahm Expeditions Inc.
- Naturetrek Ltd.
- National Geographic Expeditions
- EcoTours International
32. Global Geotourism Market Competitive Benchmarking
33. Global Geotourism Market Competitive Dashboard
34. Key Mergers and Acquisitions in The Geotourism Market
35. Geotourism Market Future Outlook and Potential Analysis
For more information about this report visit https://www.researchandmarkets.com/r/sjjj0c
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