Sustainable Tourism Market to grow by USD 335.93 billion from 2022 to 2027 | The market is fragmented due to the presence of prominent companies like Adventure Alternative Ltd., Beyond Holdings Proprietary Ltd. & Aracari Travel, and many more - Technavio

NEW YORK, Sept. 13, 2023 /PRNewswire/ -- The sustainable tourism market is estimated to grow by USD 335.93 billion from 2022 to 2027, growing at a CAGR of 9.54%. The sustainable tourism market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer sustainable tourism market are Adventure Alternative Ltd., And Beyond Holdings Proprietary Ltd., Aracari Travel, Beyonder Experiences LLP, BOUTECO Ltd., Earth Changers, G Adventures, Global Himalayan Expedition, Intrepid Group, Kind Traveler PBC, Kynder, Mojosurf, NATIVE TOURS INC., Responsible Travel, Rickshaw Travel Ltd., Steppes Travel Ltd., The Blue Yonder, Undiscovered Mountains Ltd., Wild Frontiers Adventure Travel Ltd., and Wilderness Safaris. The report provides a full list of key companies, their strategies, and the latest developments. Download a Sample before buying

Company Offering:

• Adventure Alternative Ltd. - The company offers sustainable tourism such as flying adventures, wildlife safaris, school expeditions, and trekking.
• Beyond Holdings Proprietary Ltd. - The company offers sustainable virtual care tourism namely &BEYOND Connect.
• Aracari Travel - The company offers sustainable tourism with local suppliers, responsible hotels, and indigenous communities.
• For details on companies and their offerings – Buy the report!

By Geography, the market is classified as Europe, North America, APAC, South America, and Middle East and Africa. Europe will have the largest share of the market. Europe will account for 38% of the market's growth during the forecast period. The market in the region is dominated by France, Germany, and the UK owing to efforts by their governments to develop different policies for sustainable tourism. These policies include setting up the required targets and guidelines and reducing the consumption of water and energy as well as greenhouse gas emissions. Download a sample report to get more insights on the market share of various regions and the contribution of the segments.

• Impactful driver- Large tourism companies implementing sustainable tourism practice

The implementation of sustainable tourism practices by large tourism companies is driving market growth. Many multinational hotels and tourism companies are increasing efforts to make their supply chains more sustainable. Hence, sustainable tourism initiatives are expected to have a positive impact on the market. Sustainable reporting has become a common practice, which has compelled tourism operators to reduce the environmental impact of their operations. These factors are expected to boost the growth of the market during the forecast period.

• Key Trend - Increase in eco-conscious travelers
• Major Challenges - The inability of developing countries to implement sustainable tourism policies

 Market Segmentation

• By Type, the market share growth of the domestic segment will be higher than the other segments during the forecast period. Domestic sustainable tourism refers to tourism within an economic territory of a particular country or region. The growth of this segment is attributed to factors such as the absence of currency exchange issues and the importance of regional economic growth.

Technavio Research experts have provided more insights on the market share of segments - View a Sample Report

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TOC:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Type 

7 Customer Landscape

8 Geographic Landscape

9 Drivers, Challenges, and Trends

10 Vendor Landscape

11 Vendor Analysis

12 Appendix

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SOURCE Technavio