The global sustainable tourism market value in 2024 is estimated to be US$ 1,511,465.9 million. The overall market witnessed a severe setback during the pandemic years that decreased the total market valuation from 2,200,800 million in 2019.
The global demand for sustainable tourism services is expected to rise at a promising rate of 23.8% from 2024 to 2034. The sustainable tourism industry valuation is expected to reach US$ 12,815,005 million by the end of this forecast period.
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The travel industry is experiencing a significant shift as environmental consciousness takes center stage. This press release explores the growing demand for sustainable tourism options:
- Eco-Conscious Travelers Drive Change: Global environmental awareness is fueling a surge in travelers seeking sustainable tourism experiences.
- Sustainable Practices Take Root: Traditional tourism players are adopting eco-friendly measures like using recycled materials, minimizing waste, and prioritizing energy efficiency to attract environmentally conscious travelers.
- Community Focus Boosts Appeal: Supporting local communities through tourism is enhancing the overall perception of eco-tourism. This focus on positive social impact is expected to propel the market forward in the coming years.
By embracing sustainable practices and supporting local communities, the tourism industry can cater to a growing segment of environmentally conscious travelers. This shift towards responsible tourism will not only benefit the environment but also contribute to the economic and social well-being of destinations worldwide.
Key Takeaways from the Sustainable Tourism Market Study Report
- The global market is poised to witness an absolute growth opportunity of roughly US$ 11,300, 000 million over the next ten years.
- The United States is expected to account for a significant market share and grow at a rate of 8% through the projected years.
- Demand for sustainable tourism services in Germany is expected to grow at a rate of 4.8% from 2024 to 2034.
- The United Kingdom regional market is forecasted to thrive with a CAGR of 5.5% during the projected years.
- The sustainable tourism industry in China is anticipated to expand at a rate of 24.9% per year till 2034.
- India is figured to witness the most lucrative CAGR of 27.1% during the forecast years.
Competitive Landscape for the Sustainable Tourism Market Participants
The overall market is currently diversified as companies providing sustainable tourism solutions are spread across historical sites and natural ecosystem hotspots. However, a few players have successfully established chains or networks of hotels and travel facilities in lucrative tourism destinations.
“More than 70% of visitors nowadays are choosing sustainable tourism options witnessing the effects that tourism has on the environment while on holiday. Public organizations are also raising awareness about sustainable tourism to counteract the damaging impacts of mass tourism on the environment.” – says a lead analyst at FMI
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Recent Developments by the Sustainable Tourism Industry Participants
In December 2023, the World Sustainability Organization added the Sustainable Travel Agencies Certification to its list of multi-industry certifications. Travel agencies that prioritize sustainable tourism are intended to receive recognition through this accreditation. Travel agencies who take steps to minimize, reuse, and recycle all waste products, besides following the regulations pertaining to safe and equitable working conditions for partners and workers, are granted this certification. They also have to give 1% of their profits to charitable or environmental causes and offer at least 10% of their travel packages to support these causes.
In January 2024, a new tour operator Sustainable Journeys was established in the United Kingdom to assist individuals in making the transition to more environmentally friendly travel. It offers itineraries and unique travel experiences for travelers to explore while taking into account social inclusivity, environmental conservation, and economic benefits to local communities. The operator also emphasizes lowering traveler emissions by using the train, driving an electric car, taking a bus, biking, hiking, and staying at environmentally conscious lodging.
Key Players:
- Bouteco
- Kind Traveler
- Responsible Travel
- Wild Frontiers Adventures Travel
- Wilderness Holding Limited
- Beyonder Experiences
- Undiscovered Mountains
- Gondwana Ecotours
- Row Adventures
- Natural Habitat Adventures
- Cheeseman’s Ecological Safaris
- Sustainable Travel International
- NATIVE TOURS, INC.
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Key Segments Covered by Sustainable Tourism Industry Survey Report
By Type:
- Ecological Tourism
- Eco Tourism or Green Tourism
- Soft Tourism
- Community Tourism
By Booking Channel:
- Phone Booking
- Online Booking
- In Person Booking
By Consumer Orientation:
- Men
- Women
By Tourism Type:
- Domestic
- International
By Tourist Type:
- Independent Traveler
- Tour Group
- Package Traveler
By Age Group:
- 15 to 25 Years
- 26 to 35 Years
- 36 to 45 Years
- 46 to 55 Years
- 66 to 75 Years
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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