Literary Tourism Market: Market Valuation Reaching USD 2.96 Billion by 2032, Travel & Tourism Industry Contribution to Global GDP | FMI

The literary tourism market is poised to reach a valuation of USD 2.2 Billion in 2022. Sales are projected to increase at a 3% CAGR, with the market size reaching USD 2.96 Billion by 2032.

Literary tourism celebrates the history and culture of a place by inviting visitors to explore locations featured prominently in various non-fiction books. This form of tourism not only attracts new visitors but also promotes domestic travel and enhances the visibility of tourist destinations.

The popularity of literary tourism is growing, especially in regions with rich cultural heritage and a long history. Leading the list of cities favored by literary tourists is London, followed by New York, Paris, San Francisco, and Rome. These cities boast connections to renowned poets, writers, and artists, whose residences and works draw literary enthusiasts from around the globe.

Countries hosting these cities benefit not only from the cultural prestige of their literary figures but also economically from the influx of literary tourists inspired by their writings.

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Literary tourism happens when authors or their works of literature become so well-known that visitors are drawn to either the places where the authors were born, lived, or died, or the places where their works have been based (Busby & Klug, 2001). The practice of visiting locations linked to authors, characters, or works of literature is known as literary tourism. This could involve going to an author’s tomb, a place where they currently live or once lived, the setting of a book, or even the path travelled by a fictitious character. Insofar as they may see or touch items or memorabilia connected with the authors (or their writings), visiting such locations enables literary admirers to interact with the authors they respect.

England is the most popular location for book tourists, and London and Stratford are well-known because of world-renowned Shakespeare. Shakespeare’s Globe is a contemporary recreation of the Elizabeth Globe Theater in Southward, London, which was the setting for several of William Shakespeare’s plays.

Key Takeaways from the Literary Tourism Market Study:

• The North America and Europe regions hold a market share of ~18% and ~28% respectively.
• The Covid-19 pandemic had a 45% impact on the value of the Literary tourism sector.
• New Zealand, the USA, France, India, Japan, the UK, and Ireland are some of the most popular destinations for Literary tourism.
• There is a growing international market for literary tourism which has, in part, been driven by links between literature, literary characters and film productions that embed characters in real or imagined places
• Ratio of literary tourism in global tourism industry is less than 1%
• Locations associate with authors birthplace; graveyard home are the most popular location types in the Literary tourism market.
• Online booking channels lead the charts in Literary tourism market booking channel segmentation.

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Who is winning?

The top businesses are able to maintain their competitive advantage in the industry by offering all-inclusive packages and saving travellers the effort of browsing multiple channels for their trips. Government investments and initiatives have helped firms improve their service offerings while also boosting the market.

Key Players

• Intrepid
• Explore
• Exodus Travel
• G Adventures
• on the Go Tours