The sustainable tourism market was valued at $3,248.1 billion in 2022, and is estimated to reach $11,413.6 billion by 2032, registering a CAGR of 14.0% from 2023 to 2032. In 2023, the coastal tourism segment occupied the largest market share as it is one of the most popular types of sustainable tourism locations in the world due to its scenic beauty and location related outdoor activities.
The sustainable tourism sector is significantly impacted by the growing demand for tourist destinations and experiences that minimize environmental harm and promote environmental protection. Demand for hotel stays that prioritizes sustainable operations is rising. Consumers interested in sustainable tourism search for hotels, resorts, and lodges that use water conservation, renewable energy sources, garbage minimization and recycling, energy-saving techniques, as well as local community involvement. Hotels with eco-certifications or that follow green building guidelines are particularly appealing to eco-aware guests. As they look for tour companies that promise to adopt environmentally friendly methods, preserve regional cultures, and positively impact the areas in which they operate, travellers are becoming more selective in the tour companies they select.
The concepts and methods of sustainable tourism are not understood or known by the general public. Many travelers are unaware of the negative environmental effects of their travel decisions as well as the negative effects that the tourism industry can have on society as a whole the economy, as well as the environment. They might not actively seek prospects for sustainable tourism nor comprehend the benefits of following ethical travel standards if they lack the necessary information. The promotion of sustainable tourism is usually harmed by the absence of efficient communication channels and educational initiatives. Governments, tourism groups, and educational institutions all have a critical role to play in educating the public and raising consciousness about sustainable tourism among industry participants. However, in the absence of comprehensive and engaging educational activities, which would impede market expansion, understanding of sustainable tourism remains limited which harms the market.
The growing concern for the environment among younger generations is one of the significant changes in the sector for sustainable tourism. The market will benefit greatly in the future as younger generations, like Millennials and Generation Z, for instance, become more environmentally aware and seek out sustainable travel experiences. The tourism business has been significantly impacted by this change in consumer behavior. The younger generation is actively looking for holiday spots where sustainability and environmental protection are high objectives. Natural landscapes, protected regions, and eco-friendly practices attract them to certain locations. Young people who are environmentally conscious are drawn to eco-friendly locations that show a dedication to environmental protection and provide genuine, nature-based experiences.
The sustainable tourism market is segmented on the basis of type, application, age group, and region. By type, the sustainable tourism market is classified into coastal tourism, mountain tourism, and island tourism. Depending on application, the market is categorized into solo, group, family, and couples. By age group, the market is divided across millennials, baby boomers, Generation X, and silver hair. y region, the market is divided across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, United Arab Emirates, South Africa, and the Rest of LAMEA).
Some of the major players analyzed in this report are Intrepid Group Pty Limited, G Adventures, Spiti Ecosphere, Basecamp Explorer Group, Wilderness Safaris, Loola Adventure Resort, Vagabond and Driftwood Small Group Tours of Ireland, Chumbe Island Coral Park, Inkaterra, and Tourism Holdings Limited.
The sustainable tourism sector is significantly impacted by the growing demand for tourist destinations and experiences that minimize environmental harm and promote environmental protection. Demand for hotel stays that prioritizes sustainable operations is rising. Consumers interested in sustainable tourism search for hotels, resorts, and lodges that use water conservation, renewable energy sources, garbage minimization and recycling, energy-saving techniques, as well as local community involvement. Hotels with eco-certifications or that follow green building guidelines are particularly appealing to eco-aware guests. As they look for tour companies that promise to adopt environmentally friendly methods, preserve regional cultures, and positively impact the areas in which they operate, travellers are becoming more selective in the tour companies they select.
The concepts and methods of sustainable tourism are not understood or known by the general public. Many travelers are unaware of the negative environmental effects of their travel decisions as well as the negative effects that the tourism industry can have on society as a whole the economy, as well as the environment. They might not actively seek prospects for sustainable tourism nor comprehend the benefits of following ethical travel standards if they lack the necessary information. The promotion of sustainable tourism is usually harmed by the absence of efficient communication channels and educational initiatives. Governments, tourism groups, and educational institutions all have a critical role to play in educating the public and raising consciousness about sustainable tourism among industry participants. However, in the absence of comprehensive and engaging educational activities, which would impede market expansion, understanding of sustainable tourism remains limited which harms the market.
The growing concern for the environment among younger generations is one of the significant changes in the sector for sustainable tourism. The market will benefit greatly in the future as younger generations, like Millennials and Generation Z, for instance, become more environmentally aware and seek out sustainable travel experiences. The tourism business has been significantly impacted by this change in consumer behavior. The younger generation is actively looking for holiday spots where sustainability and environmental protection are high objectives. Natural landscapes, protected regions, and eco-friendly practices attract them to certain locations. Young people who are environmentally conscious are drawn to eco-friendly locations that show a dedication to environmental protection and provide genuine, nature-based experiences.
The sustainable tourism market is segmented on the basis of type, application, age group, and region. By type, the sustainable tourism market is classified into coastal tourism, mountain tourism, and island tourism. Depending on application, the market is categorized into solo, group, family, and couples. By age group, the market is divided across millennials, baby boomers, Generation X, and silver hair. y region, the market is divided across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, United Arab Emirates, South Africa, and the Rest of LAMEA).
Some of the major players analyzed in this report are Intrepid Group Pty Limited, G Adventures, Spiti Ecosphere, Basecamp Explorer Group, Wilderness Safaris, Loola Adventure Resort, Vagabond and Driftwood Small Group Tours of Ireland, Chumbe Island Coral Park, Inkaterra, and Tourism Holdings Limited.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the sustainable tourism market analysis from 2022 to 2032 to identify the prevailing sustainable tourism market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the sustainable tourism market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report Includes the analysis of the regional as well as global sustainable tourism market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Coastal Tourism
- Mountain Tourism
- Island Tourism
By Application
- Solo
- Group
- Family
- Couples
By Age Group
- Millennial
- Baby Boomers
- Generation X
- Silver hair
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Thailand
- Indonesia
- Malaysia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Argentina
- Saudi Arabia
- United Arab Emirates
- South Africa
- Rest of LAMEA
Key Market Players
- Basecamp Explorer AS
- Chumbe Island Coral Park Ltd.
- G Adventures Inc.
- Inkaterra
- Intrepid Group Pty Limited
- LooLa Adventure Resort
- Spiti Ecosphere
- Tourism Holdings Limited
- Vagabond Tours Limited
- Wilderness Safaris
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: SUSTAINABLE TOURISM MARKET, BY TYPE
CHAPTER 5: SUSTAINABLE TOURISM MARKET, BY APPLICATION
CHAPTER 6: SUSTAINABLE TOURISM MARKET, BY AGE GROUP
CHAPTER 7: SUSTAINABLE TOURISM MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Sustainable Tourism Market,' The sustainable tourism market was valued at $3.3 trillion in 2022, and is estimated to reach $11409.2 billion by 2032, growing at a CAGR of 14% from 2023 to 2032.In 2023, the coastal tourism segment occupied the largest market share as it is one of the most popular types of sustainable tourism locations in the world due to its scenic beauty and location related outdoor activities.
Sustainable tourism, also known as ecological tourism or eco-tourism, aims to lessen the damaging effects of travel on the planet while fostering positive social and economic benefits. It places a strong emphasis on safeguarding the environment, preserving biodiversity, respecting indigenous cultures, and upholding moral principles along the whole tourism value chain. The plan seeks to strike a balance between meeting the needs and expectations of visitors, improving the welfare of the local population, and preserving and safeguarding both cultural and natural resources.
Key factors driving the growth of the sustainable tourism market include increasing demand for sustainable tourism, favorable government initiatives, and rising environmental concerns. Customers seek out ethical wildlife tourism experiences that prioritize animal welfare and promote conservation. They are drawn to locations that promote ethical encounters with wildlife, increase education and awareness, and aid in conservation. Many companies and organizations are also incorporating sustainable tourism into their CSR (corporate social responsibility) agendas. They are promoting eco-friendly travel options, integrating them into their regular operations, and collaborating with eco-travel suppliers. This corporate commitment reinforces the need for sustainable travel. Globally, as travellers become more aware of the environmental, social, and cultural implications of their journeys, there is an increasing desire for sustainable tourism. Travelers are seeking ways to lessen their ecological footprint due to a rising awareness of the repercussions of environmental deterioration, the depletion of forests, and the loss of biodiversity. They actively seek out destinations and activities that promote environmental preservation, reduce carbon emissions, and protect natural resources.
The market also offers growth opportunities to the key players in the market. The market for sustainable tourism provides numerous financial benefits to local communities. When tourism is planned and run sustainably, it may benefit local economies and well-being in a number of ways. Sustainable tourism creates both direct and indirect work opportunities. Local communities may benefit from employment opportunities in the hospitality, eating, transportation, tour-guiding, handicraft production, and other tourism-related industries. This can result in lower unemployment rates, higher income levels, and better overall economic health. In addition to encouraging entrepreneurship, sustainable tourism equips locals with the skills they need to participate actively in the tourism industry. By supporting local initiatives and community-based tourism, sustainable tourism enables communities to showcase their cultural heritage, traditional crafts, and distinctive experiences. This encourages cultural pride and offers local people the power to choose how tourism develops. Sustainable tourism can also help diversify the local economy by reducing dependency on one industry. Another one of the major developments in the industry for sustainable tourism is the rising environmental concern among younger generations. As younger generations, such as Millennials and Generation Z, for example, become more environmentally conscious and look for sustainable travel experiences, the market will gain immensely in the future. This shift in consumer behaviour has had a significant impact on the tourism industry. The younger demographics are actively searching for vacation destinations where environmental preservation and sustainability are top priorities. They are drawn to places with natural landscapes, protected areas, and eco-friendly behaviours.
The sustainable tourism market is segmented on the basis of type, application, age group, and region. By type, the sustainable tourism market is classified into coastal tourism, mountain tourism, and island tourism. Depending on application, the market is categorized into solo, group, family, and couples. By age group, the market is divided across millennials, baby boomers, Generation X, and silver hair. y region, the market is divided across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, United Arab Emirates, South Africa, and the Rest of LAMEA).
Some of the major players analyzed in this report are Intrepid Group Pty Limited, G Adventures, Spiti Ecosphere, Basecamp Explorer Group, Wilderness Safaris, Loola Adventure Resort, Vagabond and Driftwood Small Group Tours of Ireland, Chumbe Island Coral Park, Inkaterra, and Tourism Holdings Limited.
Key Market Insights
The coastal tourism segment held the largest market share in 2022, capturing almost seventy percent of the global sustainable tourism market revenue, and the island tourism segment is expected to grow at the fastest rate during the forecast period.- Based on application, the group segment claimed the biggest share of the market in 2022, contributing to more than half of the global sustainable tourism market revenue, while the solo segment is expected to grow at the fastest CAGR during the forecast period.
- Based on age group, the millennial segment accounted for the largest share in 2022 and is also predicted to have the highest growth during the forecast period.
Companies Mentioned
- Basecamp Explorer AS
- Chumbe Island Coral Park Ltd.
- G Adventures Inc.
- Inkaterra
- Intrepid Group Pty Limited
- LooLa Adventure Resort
- Spiti Ecosphere
- Tourism Holdings Limited
- Vagabond Tours Limited
- Wilderness Safaris
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 273 |
| Published | June 2023 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value ( USD | $ 3248.1 billion |
| Forecasted Market Value ( USD | $ 11413.6 billion |
| Compound Annual Growth Rate | 13.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
