The global ecotourism market is projected to be valued at USD 251,188.1 million in 2024 and is expected to grow to USD 979,128.7 million by 2034, with a compound annual growth rate (CAGR) of 14.6% during the forecast period. In 2023, the ecotourism industry generated USD 222,127.8 million in revenue, and it is anticipated to experience a year-on-year (Y-o-Y) growth rate of 13.1% in 2024. The market share of the ecotourism sector within the overall tourism market is estimated to range between 5% and 7%.
They are studying the ecological and cultural impacts of ecotourism and working on projects that promote recycling, priorities energy efficiency, and reuse water to create jobs for locals. Because of this, the market is growing. Growth in the global ecotourism market is expected, in part because many national governments are actively promoting the industry through public education, training programs, data collection and analysis, and business partnerships.
Nepal, for example, which is at the forefront of unique sustainable tourism locations worldwide and which saw a remarkable 24% increase in passengers in 2020, totaling 1,172,052 at the end of the year, is one of the countries credited with providing the growth factors. Similarly, 2019 saw over two million tourists visit Kenya, a 35.7% increase from the previous year. Destinations like Costa Rica, the Galapagos Islands, and Panama are at the forefront of the sustainable tourism movement. Governments’ newfound focus on tourist security has also contributed to an uptick in international visitors, which in turn has boosted the sustainable tourism industry.
Key Takeaways
Drivers:
- Increasing demand for sustainable and responsible tourism practices.
- Growing interest in nature-based tourism activities.
- Rise of eco-conscious millennials and Gen Z travelers.
Opportunities:
- Expansion of sustainable tourism to emerging markets.
- Development of unique and authentic ecotourism experiences.
- Embracing technology to reach a wider audience.
Restraints:
- High initial investment costs.
- Limited infrastructure and accessibility in some destinations.
- Dependence on natural resources, which can be impacted by climate change.
Challenges:
- Balancing sustainable tourism development with conservation efforts.
- Ensuring sustainable practices throughout the entire tourism supply chain.
- Dealing with the negative impacts of mass tourism in some destinations.
Competitive Landscape
Adventure Alternative Ltd, Aracari, Black Kite tour PLC, G Adventures, Frosch International Travel, Gondwana Ecotours, Discover Corps, ROW Adventures, Natural Habitat Adventuresm, and Cheesemans’ Ecology Safaris are just a few of the major companies in the ecotourism industry. These major tour operators are making serious efforts to improve their standing in the industry and provide ecotourists around the world with genuine, in-depth adventures.
Recent Developments
Wetravel, Inc. has teamed up with Tourism Cares to offer a new academy course titled Introduction to Sustainable Tourism in June 2022. The recently released training provides tourism businesses with an entry-level course that is expected to help them stay informed, actively participate, and advocate for change.
In July 2022, Rabbie’s, a major UK tour operator, introduced two eco-friendly itineraries in Scotland. The newly introduced tours are a part of the company’s ‘We Care About There’ initiative, which promotes responsible and sustainable tourism by providing a unique and meaningful experience for its customers.
Italian global cruise line MSC Cruises launched nearly 1,400 sustainability-themed summer tours in May 2022 to highlight the company’s commitment to environmental responsibility. The new itinerary was created to promote “nature-positive” pursuits and lessen the negative effects of tourism.
Key Segments
By Type:
- Nature & Wildlife
- Cultural
- Rural
By Tour Type:
- Independent Traveler
- Tour Group
- Package Traveler
By Tourist Type:
- Domestic
- International
By Consumer Orientation:
- Men
- Women
- Children
By Age Group:
- 15 to 25 Years
- 26 to 35 Years
- 36 to 45 Years
- 46 to 55 Years
- 56 to 65 Years
- 66 to 75 Years
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
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