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Global Sustainable Tourism Market by Offering, End Users and Region: A Report by Absolute Markets Insights

Published On 07 Nov 2022 05:07 AM


Tourism is the reason why several countries are surviving even in the most troubled times. It is of utmost importance when it comes to ensure their economic growth. Tourism brings along multiple benefits for the country that hosts tourists.  It doesn’t just boost the revenue in terms of the economy, but also creates numerous jobs, develops the infrastructures of any countries, and creation of a beautiful bond among foreigners and citizens. One of the major benefits that tourism industry that brings along is creation of numerous job opportunities. The jobs are created in various sectors like agriculture, communication, healthcare and the educational sector. The tourism industry grows aggressively because tourists take a vacation and travel for the purpose of experiencing the culture of the host nation, its traditions along with the gastronomy. Along with generation of employment, the tourism also aids local restaurants, shopping centers, and stores grow. On the other hand, the word sustainable tourism is becoming hugely popular as it covers complete tourism experience also including concerns related to issues that are economic, social and environmental in nature. It also highlights importance for improving the experiences of the tourists along with addressing the needs of the countries that are hosting. The sustainable tourism market is seeing massive growth owing to various factors.

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Meanwhile, the sustainable tourism market incurred huge losses in the period of the COVID-19 pandemic. This was majorly because of several travel curbs imposed to curtail the spread of the dreadful coronavirus. Borders were closed and lockdowns were imposed across the globe, and this damaged the market’s growth. One of the biggest factors that helps the sustainable tourism market take giant strides on the road of growth are favourable government initiatives by numerous countries that strive on tourism. These majors were taken to revive the loss-making tourism sector impacted post pandemic. The tourism seasonality is the reason the sustainable tourism market is likely to incur huge losses over the period of next couple of years. Although the situation is likely to change.

On the other hand, the sustainable tourism market is forecasted to witness massive growth over the period of coming few years and this is majorly because of increased interest of international tourists towards sustainable tourism. The global sustainable tourism market is projected to grow at an estimated CAGR of 14% over the forecast period.

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By End Users Type, Individuals Segment will Witness Fastest Growth for the Sustainable Tourism Market in 2022

Rising impact of social media and movies, numerous youngsters are inclined towards travelling solo. This massively helps this market grow. Another reason why most people are preferring to travel alone is to save huge costs owing to availability of cheaper bag-packer hostels across the globe.

Asia Pacific Region to Witness Fastest Growth for this Market Over the Forecast Period (2022 – 2030) in the Sustainable Tourism Market   

Countries like Maldives, Mauritius, Thailand, Indonesia and Sri Lanka survive mostly on tourism. These countries are favourite destination and attract thousands of travellers from the globe. This is the reason why this region is expected to see huge growth.

Some of the major players operating in the global sustainable tourism market are listed below:

  • Beyonder Experiences
  • Bouteco
  • Cheeseman’s Ecological Safaris
  • Gondwana Ecoutours
  • Kind Traveler
  • Natural Habitat Adventures
  • Responsible Travel
  • Row Adventures
  • Sustainable Travel International
  • Undiscovered Mountains
  • Wild Frontiers Adventures Travel
  • Wilderness Holding Limited
  • Other Market Participants

Global Sustainable Tourism Market Segmentation

Global Sustainable Tourism Market has been segmented by offering, end users and regions which are further classified into respective countries:

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Global Sustainable Tourism Market Offering Outlook (Revenue, USD Million, 2015 - 2030)

  • Tours and Safaris
    • Family Safaris
    • Luxury Safaris
    • Self-drive Tours
    • Others
  • Accommodation
  • Others

Global Sustainable Tourism Market Target Group End Users Type Outlook (Revenue, USD Million, 2015 - 2030)

  • Individuals
  • Family/ Groups

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Global Sustainable Tourism Market Regional Outlook (Revenue, USD Million, 2015 - 2030)

  • North America (U.S., Canada, Mexico, Rest of North America)
  • Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
  • Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
  • Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
  • Latin America (Brazil, Argentina, Rest of Latin America)

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Press Release Provided By: Absolute Markets Insights