New data from Future Market Insights (FMI) indicates that the film tourism market is expected to exceed USD 66.9 million in 2023 and is projected to climb to USD 118.6 million by 2033, achieving a compound annual growth rate (CAGR) of 5.9% over the next decade.
The film tourism market is forecasted to grow at a consistent growth rate during the forecast period. This is majorly attributed to the growing popularity of global content and the trend of cultural integration. The parent market for Film Tourism I.e. Cultural Tourism has been on an upward growth for a long time due to globalization. These factors along with multiple other nudges have helped the film tourism market gain mainstream popularity and a highly lucrative market. The rise of film tours across the world to locations where the films have been shot, the production sets, film festivals, etc. have helped the firms increase their service offerings.
The introduction of streaming services and increasing penetration of internet connectivity across the world has also helped immensely in making the different content globally famous. This along with the low cost of international travel and ease of availing accommodations has also made a significant impact on the growth of the film tourism sector. Untapped tourist locations get the limelight from the international broadcast of the films, documentaries, or shows filmed there.
Film locations and sets can be visited round the year making the film tourism sector consistent and safe from the seasonal aspects that other tourism markets suffer. This along with the ease of providing such tours has made the film tourism sector an easy market for new firms to enter.
Key Takeaways from the Film Tourism Market Study:
- The North America and Asia Pacific regions hold a market share of ~32.6% and ~35% respectively.
- The Covid-19 pandemic had a 45% impact on the value of the film tourism sector.
- New Zealand, the USA, France, India, Japan, the UK, and Ireland are some of the most popular destinations for film tourism.
- Film sets and theme parks are the most popular location types in the film tourism market.
- Online booking channels lead the charts in film tourism market booking channel segmentation.
Who is winning?
By providing all-inclusive packages and sparing travelers from the trouble of navigating several channels for their excursions, the major players are able to keep their competitive advantage in the market. Government investments and initiatives are stimulating the market, and they have also assisted businesses in enhancing their service offerings.
The key players in the film tourism market are IIFTC, MP Tourism, Tourism Film Destinations, Scallywag Travel, and Onlocationtours.
The Film Tourism Sector by Category
By Location Type:
- Film Sets
- Destination
- Film Festivals
By Booking Channel:
- Phone Booking
- Online Booking
- In Person Booking
By Tourist Type:
- Domestic
- International
By Tour Type:
- Independent Traveler
- Package Traveler
- Tour Group
By Consumer Orientation:
- Men
- Women
By Age Group:
- 15-25 Years
- 26-35 Years
- 36-45 Years
- 46-55 Years
- 66-75 Years
Report Preview: https://www.futuremarketinsights.com/reports/film-tourism-overview-and-sector-outlook
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 over 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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