Market Size – The sustainable tourism market size has grown rapidly in recent years. It will grow from $2,861.68 billion in 2023 to $3,728.2 billion in 2024 at a compound annual growth rate (CAGR) of 14.6%. The growth in the historic period can be attributed to growing environmental awareness, increased concern about climate change, rising demand for eco-friendly accommodations, expansion of the global tourism industry, increased media coverage on environmental issues.
The sustainable tourism market size is expected to see rapid growth in the next few years. It will grow to $5,671.22 billion in 2028 at a compound annual growth rate (CAGR) of 14.7%. The growth in the forecast period can be attributed to rising consumer demand for sustainable travel experiences, a growing focus on corporate sustainability practices, the expansion of green travel certifications and standards, supportive government policies and incentives, growing awareness of biodiversity conservation, rising investment in sustainable tourism infrastructure, and rising popularity of eco-tourism among millennials and Gen Z. Major trends in the forecast period include adoption of renewable energy in tourism facilities, eco-friendly and low-impact travel options, sustainable travel certifications and labels, local and authentic travel experiences, a focus on reducing carbon footprints in travel, the development of green infrastructure and smart technologies, and enhanced transparency in sustainability practices by travel providers.
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Scope Of Sustainable Tourism MarketThe Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Sustainable Tourism Market Overview
Market Drivers –The rise of eco-conscious travelers is expected to propel the growth of the sustainable tourism market moving forward. Eco-conscious travelers prioritize minimizing their environmental impact and supporting sustainable practices while traveling. This rise is primarily driven by heightened awareness of environmental issues such as climate change, biodiversity loss, and pollution, along with the availability of eco-friendly travel options like sustainable accommodations, eco-tours, and responsible travel practices promoted by various organizations and governments worldwide. Eco-conscious travelers utilize sustainable tourism to minimize their environmental footprint, support local cultures, and conserve resources by opting for eco-friendly accommodations and low-emission transport options. For instance, in April 2022, a report by Booking.com B.V., a Netherlands-based online travel agency, indicated that 71% of UK travelers prioritize sustainable travel, with 42% influenced by recent climate change news to make more eco-friendly choices. Additionally, 33% reported staying in sustainable accommodations over the past year, and this number is expected to increase by 62% in the following year. Thus, the rise of eco-conscious travelers significantly contributes to the growth of the sustainable tourism market.
Market Trends – Major companies operating in the sustainable tourism market are shifting toward eco-friendly accommodations and sustainable infrastructure, such as eco-conscious lodgings, to enhance their brand reputation, attract eco-conscious travelers, and capitalize on the growing demand for responsible travel options. Eco-conscious lodgings are accommodations designed to minimize environmental impact by incorporating energy-efficient systems, water-saving technologies, waste reduction practices, sustainable sourcing, green certifications, and community engagement. For instance, in May 2024, Eco Hotels, an India-based hospitality company dedicated to providing environmentally friendly accommodations, launched Eco Satva for eco-friendly accommodations and sustainable infrastructure. This net-carbon-zero hotel offers a purely vegetarian experience and integrates renewable energy sources and waste reduction practices. The Eco Satva is a significant milestone in the company’s journey to expand sustainable hospitality solutions, reflecting its core values of environmental concern and meeting the growing demand for eco-conscious lodging options.
The sustainable tourism market covered in this report is segmented –
1) By Type: Coastal Tourism, Mountain Tourism, Island Tourism
2) By Tourism Type: Domestic, International
3) By Booking Channel: Phone Booking, Online Booking, In Person Booking
4) By Application: Solo, Group, Family, Couples
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Regional Insights – North America was the largest region in the sustainable tourism market in 2023. The regions covered in the sustainable tourism market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies – Major companies in the market are Marriott International Inc., Booking.com B.V., Airbnb Inc., REI Adventures LLC, The Travel Corporation Ltd., TripAdvisor Inc., Contiki Holidays Ltd., Intrepid Travel Pty Ltd, G Adventures Inc., AndBeyond Holdings Proprietary Ltd., Gondwana Ecotours LLC, Tourism Holdings Limited, Backroads Inc., Natural Habitat Adventures Inc., Wildland Trekking Inc., Wilderness Safaris Pty Ltd, Topdeck Travel Ltd., Butterfield & Robinson Inc., Tucan Travel Ltd., Exodus Travels Ltd., Sustainable Travel International Inc., Responsible Travel Ltd., Kuoda Travel, Experience Travel Group Ltd., Aracari Travel Ltd., Wild Frontiers Adventure Travel Ltd., Beyonder Experiences LLP, Ecoventura S.A., Trafalgar Tours Ltd., Adventure Life Inc.
Table of Contents 1. Executive Summary2. Sustainable Tourism Market Report Structure3. Sustainable Tourism Market Trends And Strategies4. Sustainable Tourism Market – Macro Economic Scenario5. Sustainable Tourism Market Size And Growth…..27. Sustainable Tourism Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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