Pune, 10, May 2024: Stellar Market Research, a Consumer Goods & Services business research firm has published a report on the “Sustainable Tourism Market”. The total market size of Sustainable Tourism Market was USD 3.76 Tn in 2023 and is expected to grow at 14 percent CAGR over the forecast period by reaching nearly USD 9.41 Tn.
Sustainable Tourism Market Report Scope and Research Methodology
Market Size in 2023 USD 3.76 Tn.
Market Size in 2030 USD 9.41 Tn.
CAGR 14 % (2024-2030)
Forecast Period 2024-2030
Base Year 2023
Number of Pages 278
No. of Tables 119
No. of Charts and Figures 115
Segment Covered Type, Tourist Type, Age Group
Regional Scope North America, Europe, Asia Pacific, Middle East and Africa, South America
Report Coverage Market Share, Size & Forecast by Revenue | 2024−2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, Stellar Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.
The report on Sustainable Tourism Market provides a thorough analysis of the market structure and the nature of competition in the market. The Sustainable Tourism Market size was estimated meticulously by using a bottom-up approach to get an understanding of the market growth. Key insights covered in the report include the major drivers of the market at global and regional level, challenges for future growth and various opportunities due to technical advancements in the market.
Regional analysis is conducted to provide information on the market leaders in various regions, market penetration and demographic factors affecting the regional Sustainable Tourism industry. The market is broken down into two major segments by product and distribution channel. Segment-wise analysis helps gain insights into the core target consumers of the product, its manufacturers and devise advertising campaigns for the same.
For the competitive analysis of the Sustainable Tourism Market, a competitive matrix is made covering market leaders and new entrants. The report presents an overview of each company along with important takeaways based on the revenue generated, financial health, technological advancements, recent developments, mergers and acquisitions, joint ventures, alliances and marketing tactics.
Data for the analysis was collected using primary and secondary research methods. A mix of qualitative and quantitative analysis was used in the report. Primary research was used to validate the findings from the secondary research. Research tools such as SWOT, PESTLE and Porter’s Five Force analysis was used to grasp the factors affecting the growth of the Sustainable Tourism Market. Such analysis makes the report an investor’s guide, thereby helping clients take investment and marketing decisions.
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Sustainable Tourism Market Overview
Sustainable Tourism is sustainable practice in and by the tourism market. It is an objective to acknowledge all impacts of tourism, both positive and negative. It aims to reduce the negative impacts and maximize the positive ones. Sustainable tourism is defined by the UN Environment Program and UN World Tourism Organization as “tourism that takes full account of its current and future economic, social and environmental impacts, addressing the needs of visitors, the industry, the environment and host communities.”
Sustainable Tourism Market Dynamics
Sustainable tourism raises a symbiotic relationship between businesses and their customers, facilitating a two-way dialogue that extends beyond the hospitality sector into transportation and other tourism-related industries, which boosts the Sustainable Tourism Market growth. As consumers become more discerning about their consumption habits, businesses engaged in sustainable tourism stand to gain from an increasingly informed and appreciative customer base, which significantly boost the Sustainable Tourism Market growth. Sustainable tourism initiatives contribute to the enhancement of local infrastructure, particularly in rural areas, where tourism efforts often seek to balance the needs of visitors and residents. This lead to improvements in transportation, internet connectivity, and the development of new attractions, ultimately benefiting both tourists and locals. Tourism serves as a catalyst for innovation, driving demand for new products and services that cater to the needs of travelers. This creates opportunities for businesses to thrive while simultaneously enriching the local economy and providing high-quality jobs for residents.
Sustainable Tourism Market Regional Insight
North America dominated the market in market in 2023 and is expected to hold the largest North America Sustainable Tourism Market share over the forecast period. North America boasts abundant natural treasures and scenic wonders, offering a diverse array of ecotourism opportunities. From the majestic landscapes of Canada to the vibrant ecosystems of Mexico and the United States, the region captivates visitors with its rich biodiversity and geological marvels, which is expected to boost the Sustainable Tourism Market growth. Spanning the continent are iconic features like the mountain ranges stretching from the Canadian Rockies to the Mexican Sierra Madre, along with captivating wildlife such as migratory whales, birds, and monarch butterflies.
Sustainable Tourism Market segmentation
By Type
- Ecotourism
- Community tourism
- Geotourism
- Culture
- Others
Based on Type, the Ecotourism segment dominated the market in 2023 and is expected to hold the largest Sustainable Tourism Market share over the forecast period. Ecotourism is a segment within the sustainable tourism market that focuses on promoting responsible travel to natural areas while conserving the environment and improving the well-being of local communities.
By Tourist Type
- Independent Traveller
- Tour Group
- Package Traveller
By Age Group
- Millennial
- Baby Boomers
- Generation X
Sustainable Tourism Market Key players include:
- Booking Holdings Inc. – Norwalk, Connecticut, USA
- Expedia Group – Seattle, Washington, USA
- Airbnb, Inc. – San Francisco, California, USA
- TripAdvisor, Inc. – Needham, Massachusetts, USA
- Marriott International, Inc. – Bethesda, Maryland, USA
- Hilton Worldwide Holdings Inc. – McLean, Virginia, USA
- InterContinental Hotels Group PLC – Denham, Buckinghamshire, UK
- Hyatt Hotels Corporation – Chicago, Illinois, USA
- Accor – Paris, France
- Wyndham Destinations – Orlando, Florida, USA
- American Express Global Business Travel – New York, New York, USA
- Delta Air Lines, Inc. – Atlanta, Georgia, USA
- Southwest Airlines Co. – Dallas, Texas, USA
- Emirates Group – Dubai, United Arab Emirates
- Lufthansa Group – Cologne, Germany
- Qantas Airways Limited – Sydney, Australia
- Norwegian Cruise Line Holdings Ltd. – Miami, Florida, USA
- Carnival Corporation & plc – Miami, Florida, USA
- Royal Caribbean Group – Miami, Florida, USA
- TUI Group – Hanover, Germany
- Thomas Cook Group – London, UK
- Intrepid Group – Melbourne, Australia
- G Adventures – Toronto, Ontario, Canada
- Wilderness Safaris – Gaborone, Botswana
- Abercrombie & Kent – Cheltenham, UK
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Key questions answered in the Sustainable Tourism Market report are:
- What is Sustainable Tourism?
- Which market segment held the largest share of the global Sustainable Tourism Market in 2023?
- What are the global trends in the Sustainable Tourism Market?
- What are the upcoming industry applications and trends for the Sustainable Tourism Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for Sustainable Tourism Market?
- What growth strategies are the players considering to increase their presence in Sustainable Tourism Market?
- Who are the leading companies and what are their portfolios in Sustainable Tourism Market?
- What are the major challenges that the Sustainable Tourism Market could face in the future?
- Which region held the largest Sustainable Tourism Market Share in 2023?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2023)
- Market Size, Share, Size & Forecast by different segment | 2023−2030
- Sustainable Tourism Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Sustainable Tourism Market Segmentation – A detailed analysis by Type, Tourist Type, age group, and Region.
- Competitive Landscape – Profiles of selected key players by region in a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Stellar Market Research is leading Consumer Goods & Services research firm, has also published the following reports:
Global Travel and Tourism Market – Global Travel and Tourism Market size was valued at USD 648.47 Bn. in 2023 and is expected to reach USD 975.70 Bn. by 2030, at a CAGR of 6.01 %. As more people have the financial means to explore new destinations and indulge in travel experiences, the Travel and Tourism market experiences sustained growth, with destinations worldwide benefiting from increased visitor spending and tourism-related activities.
Safari Tourism Market – The Safari Tourism Market size was valued at US$ 27.3 Bn. in 2023 and the total Global Safari Tourism revenue is expected to grow at a CAGR of 7.5% from 2024 to 2030, reaching nearly USD 45.30 Bn. by 2030. Encouraging conservation activities ensures the survival of the sector going forward in addition to protecting species. The long-term sustainability of safari tourism depends on healthy ecosystems and wildlife populations, which guarantees ongoing success in this rich industry.
About Stellar Market Research:
Stellar Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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Website: https://www.stellarmr.com/report/Sustainable-Tourism-Market/1836