Dublin, Nov. 20, 2024 (GLOBE NEWSWIRE) -- The "Sustainable Tourism Market Report 2024" has been added to ResearchAndMarkets.com's offering.
This Sustainable Tourism market report covers industry 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 sustainable tourism market size has grown rapidly in recent years. It will grow from $2.86 trillion in 2023 to $3.72 trillion in 2024 at a compound annual growth rate (CAGR) of 14.6%. The growth observed during the historical period can be ascribed to several factors such as heightened environmental awareness, increased concern about climate change, a surge in demand for eco-friendly accommodations, the expansion of the global tourism sector, and greater media focus on environmental issues.
The sustainable tourism market size is expected to see rapid growth in the next few years. It will grow to $5.67 trillion in 2028 at a compound annual growth rate (CAGR) of 14.7%. The anticipated growth in the forecast period can be attributed to several key factors such as increasing consumer demand for sustainable travel experiences, an intensified focus on corporate sustainability practices, the proliferation of green travel certifications and standards, supportive government policies and incentives, heightened awareness of biodiversity conservation, growing investments in sustainable tourism infrastructure, and the rising popularity of eco-tourism among millennials and Gen Z.
Key trends during this period include the adoption of renewable energy in tourism facilities, eco-friendly and low-impact travel options, sustainable travel certifications and labels, local and authentic travel experiences, efforts to reduce carbon footprints, the development of green infrastructure and smart technologies, and enhanced transparency in sustainability practices by travel providers.
The rise of eco-conscious travelers is anticipated to drive the growth of the sustainable tourism market. Eco-conscious travelers are individuals who prioritize minimizing their environmental impact and supporting sustainable practices during their trips. This trend is largely driven by increased awareness of environmental issues such as climate change, biodiversity loss, and pollution, as well as the availability of eco-friendly travel options, including sustainable accommodations, eco-tours, and responsible travel practices promoted globally by various organizations and governments. Eco-conscious travelers aim to reduce their environmental impact by choosing eco-friendly accommodations and low-emission transport, while also supporting local cultures and conserving resources. For example, in April 2022, a report by Booking.com B.V. revealed that 71% of UK travelers prioritize sustainable travel, with 42% influenced by recent climate change news to make more eco-friendly choices. Furthermore, 33% of travelers reported staying in sustainable accommodations over the past year, with expectations for this figure to increase by 62% in the following year. Consequently, the rise of eco-conscious travelers is propelling the growth of the sustainable tourism market.
Companies in the sustainable tourism market are increasingly focusing on eco-friendly accommodations and sustainable infrastructure to enhance their brand reputation, attract eco-conscious travelers, and meet the growing demand for responsible travel options. Eco-conscious lodgings are designed to minimize environmental impact by incorporating energy-efficient systems, water-saving technologies, waste reduction practices, sustainable sourcing, green certifications, and community engagement. For instance, in May 2024, Eco Hotels, an India-based hospitality company, launched Eco Satva, a net-carbon-zero hotel that offers a vegetarian experience and integrates renewable energy sources and waste reduction practices. This initiative marks a significant milestone in Eco Hotels' commitment to expanding sustainable hospitality solutions and reflects its core values of environmental stewardship.
In January 2022, Intrepid Travel, an Australia-based small group adventure travel company, acquired Wildland Trekking for an undisclosed amount. This acquisition aims to enhance Intrepid's portfolio with 260 new trips and significantly increase its U.S. market share, driven by a surge in domestic travel interest and a commitment to sustainability. The merger will integrate the operations of both companies, expanding Intrepid's adventure offerings and reinforcing its dedication to environmentally responsible travel. Wildland Trekking, a U.S.-based tour operator, specializes in active and eco-friendly adventures.
Major companies operating in the sustainable tourism market are Marriott International, Booking.com, Airbnb, REI Adventures, The Travel Corporation, TripAdvisor, Contiki Holidays, Intrepid Travel, G Adventures, AndBeyond Holdings, Gondwana Ecotours, Tourism Holdings, Backroads, Natural Habitat Adventures, Wildland Trekking, Wilderness Safaris, Topdeck Travel, Butterfield & Robinson, Tucan Travel, Exodus Travels, Sustainable Travel International, Responsible Travel, Kuoda Travel, Experience Travel Group, Aracari Travel, Wild Frontiers Adventure Travel, Beyonder Experiences, Ecoventura, Trafalgar Tours and Adventure Life.
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.
Markets Covered:
- By Type: Coastal Tourism; Mountain Tourism; Island Tourism
- By Tourism Type: Domestic; International
- By Booking Channel: Phone Booking; Online Booking; In Person Booking
- By Application: Solo; Group; Family; Couples
Key Topics Covered:
1. Executive Summary
2. Sustainable Tourism Market Characteristics
3. Sustainable Tourism Market Trends and Strategies
4. Sustainable Tourism Market - Macro Economic Scenario
5. Global Sustainable Tourism Market Size and Growth
5.1. Global Sustainable Tourism Market Drivers and Restraints
5.2. Global Sustainable Tourism Historic Market Size and Growth, 2018-2023, Value ($ Billion)
5.3. Global Sustainable Tourism Forecast Market Size and Growth, 2023-2028, 2033F, Value ($ Billion)
6. Sustainable Tourism Market Segmentation
6.1. Global Sustainable Tourism Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Coastal Tourism
- Mountain Tourism
- Island Tourism
6.2. Global Sustainable Tourism Market, Segmentation by Tourism Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Domestic
- International
6.3. Global Sustainable Tourism Market, Segmentation by Booking Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Phone Booking
- Online Booking
- in Person Booking
6.4. Global Sustainable Tourism Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Solo
- Group
- Family
- Couples
7. Sustainable Tourism Market Regional and Country Analysis
7.1. Global Sustainable Tourism Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Sustainable Tourism Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8-29. Country Specific Sustainable Tourism Market Breakdown
30. Sustainable Tourism Market Competitive Landscape and Company Profiles
30.1. Sustainable Tourism Market Competitive Landscape
30.2. Sustainable Tourism Market Company Profiles
- Marriott International
- Booking.Com
- Airbnb Inc.
- REI Adventures
- The Travel Corporation
31. Sustainable Tourism Market Other Major and Innovative Companies
- TripAdvisor Inc.
- Contiki Holidays Ltd.
- Intrepid Travel Pty Ltd
- G Adventures Inc.
- AndBeyond Holdings Proprietary Ltd.
- Gondwana Ecotours LLC
- Tourism Holdings Limited
- Backroads Inc.
- Natural Habitat Adventures Inc.
- Wildland Trekking Inc.
- Wilderness Safaris Pty Ltd
- Topdeck Travel Ltd.
- Butterfield & Robinson Inc.
- Tucan Travel Ltd.
- Exodus Travels Ltd.
32. Global Sustainable Tourism Market Competitive Benchmarking
33. Global Sustainable Tourism Market Competitive Dashboard
34. Key Mergers and Acquisitions in the Sustainable Tourism Market
35. Sustainable Tourism Market Future Outlook and Potential Analysis
35.1 Sustainable Tourism Market in 2028 - Countries Offering Most New Opportunities
35.2 Sustainable Tourism Market in 2028 - Segments Offering Most New Opportunities
35.3 Sustainable Tourism Market in 2028 - Growth Strategies
For more information about this report visit https://www.researchandmarkets.com/r/mfxusu
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