Sustainable tourism market size to grow by USD 335.93 billion from 2022 to 2027: A descriptive analysis of customer landscape, vendor assessment, and market dynamics

NEW YORK, Dec. 2, 2022 /PRNewswire/ — Technavio categorizes the global sustainable tourism market as a part of the hotels, restaurants, and leisure market, the parent market. The hotels, restaurants, and leisure market covers companies engaged in operating hotels, resorts, and cruise ships, including travel agencies, tour operators, and related services. The global sustainable tourism market size is estimated to increase by USD 335.93 billion from 2022 to 2027. The market’s growth momentum will accelerate at a CAGR of 9.54%.

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Global sustainable tourism market – Customer landscape

To help companies evaluate and develop growth strategies, the report outlines –

Global sustainable tourism market – Vendor analysis

Vendor Landscape – The global sustainable tourism market is fragmented, with the presence of numerous market players. A few prominent vendors that offer sustainable tourism in the 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, and others.

The market players compete based on various factors such as price, government licensing, service portfolio, quality, brand, and safety measures. Companies are also adopting various marketing strategies to increase their market shares. The competition among vendors is expected to increase during the forecast period due to the rise of different types of sustainable tourism services. Tourism organizations are investing in designing, planning, developing, branding, expanding their existing products and service portfolios, and acquiring new players in the market. Technological innovations and creativity also play a significant role in driving the growth of the global sustainable tourism market.

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Vendor offerings –

• Adventure Alternative Ltd.: The company offers sustainable tourism, such as wildlife safaris, school expeditions, and trekking.

• And 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.

• BOUTECO Ltd.: The company offers a trustworthy, independent list of sustainable design-led hotels and boutique eco-hotels.

• For details on vendors and their offerings – Buy report!

Global sustainable tourism market – Segmentation assessment

Geography Overview

Based on geography, the global sustainable tourism market is segmented into North America, Europe, APAC, South America, and the Middle East and Africa. The report provides actionable insights and an accurate estimation of the contribution of all regions to the growth of the global sustainable tourism 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.

Segment overview

Based on type, the global sustainable tourism market is segmented into domestic and international.

• 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.

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Global sustainable tourism market – Market dynamics

• Impactful driver – 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 – The increase in the number of eco-conscious travelers is a key trend in the market. The need to protect the environment and available natural resources is encouraging travelers to opt for sustainable tourism. Organizations such as UNESCO, GSTC, and UNWTO are developing standards and providing guidance to tourism companies. They conduct training programs, create accreditation schemes, organize conferences, and advocate for sustainable tourism policies. Such initiatives are expected to support the growth of the market during the forecast period.

• Major challenge – The lack of proper implementation of sustainable tourism policies by developing countries is challenging market growth. For instance, Indonesia’s national tourism law has environmental conservation targets. However, there is a lack of suitable action plans. Similarly, lawmakers in India are increasing awareness about sustainable tourism. However, their policies are yet to get approved. These factors are expected to pose a threat to the growth of the market during the forecast period.

Driver, Trends, and Challenges are the factors of market dynamics, which state about consequences and sustainability of businesses. Find a few insights from a free sample report!

What are the key data covered in this sustainable tourism market report?

• CAGR of the market during the forecast period

• Detailed information on factors that will drive the growth of the sustainable tourism market between 2023 and 2027

• Precise estimation of the size of the sustainable tourism market size and its contribution to the parent market

• Accurate predictions about upcoming trends and changes in consumer behavior

• Growth of the sustainable tourism market across APAC, North America, Europe, Middle East and Africa, and South America

• Thorough analysis of the market’s competitive landscape and detailed information about vendors

• Comprehensive analysis of factors that will challenge the growth of sustainable tourism market vendors

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Table Of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Type

7 Market Segmentation by Channel

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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Global Sustainable Tourism Market 2023-2027

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