The global sustainable tourism market is projected to be valued at USD 1,511.5 billion in 2024, as highlighted in a recent industry analysis. The sustainable tourism sector is anticipated to represent 2% to 5% of the broader travel and tourism market. From 2024 to 2034, demand for sustainable tourism services is expected to grow at an impressive compound annual growth rate (CAGR) of 23.8%, reaching an estimated revenue of nearly USD 12.82 trillion by 2034.
As environmental and ecological awareness continues to rise, a growing number of tourists are eager to embrace sustainable travel practices. The effects of urbanization, industrialization, and economic activities in emerging economies—such as increased energy use and consumption—have had negative environmental consequences. This has sparked a shift towards sustainable travel trends, as travelers seek to minimize their impact. The heightened awareness around these issues is likely to drive the long-term growth of the sustainable tourism market, making the sector increasingly significant in the years ahead.
The constant escalation of human footprints on the ecosystem and a consciousness about this along with the knowledge of how to minimize these footprints will go a long way in generating opportunities for sustainable tourism. Human activities contribute to climate change, pollution, biodiversity loss, etc., and it is the same human activities that can help control these negative changes occurring in the environment.
Thus, tourism, as one of the main human activities can help protect the environment and sustainable tourism is the answer to this. However, even with mass adoption of sustainable tourism and its positive future prospects, the market is not without restraints. Affordable flights, easy availability of accommodation, and a digitally driven consumer base creates over-tourism which impede sustainable tourism market growth.
Key Takeaways:
- Over-tourism may hamper market possibilities of sustainable tourism.
- The United States to account for major market share in North America.
- Sustainable tourism trends in Spain is creating more awareness regarding local businesses.
- India is likely to offer many lucrative opportunities to sustainable tourism.
- By booking channel, phone booking is expected to lead the market growth.
- Based on age group, the 26-35 years age group will continue to dominate the market.
Competitive Landscape
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, and NATIVE TOURS, INC., among others, are some of the major players in the sustainable tourism market that are profiled in the full version of the report.
Major market players are invested in creating a new standard for sustainable tourism. Promotional strategies such as reporting of sustainability methods, practices, and resources to the global tourism council are likely to aid the overall market growth.
Recent Developments in the Global Sustainable Tourism Market
- In November 2021, Atout France joined the UNESCO Sustainable Travel Pledge. This development was part of the organization’s commitment to preserve the environment, regional cultures, and the people who rely on travel for their well-being.
- In September 2022, EasyJet Holidays debuted a new line of “eco-certified” items in collaboration with the GSTC. The company is facilitating environmentally conscious travel decisions for its clientele by featuring a new line of “eco-certified” items on its website. All the hotels in the collection are certified or have fulfilled GSTC-recognized hotel requirements that can be distinguished by a green leaf design. Visitors can also choose the ideal vacation by using a new website dubbed “sustainable holidays,” which shows them whether hotels have sustainability certification.
Key Players Profiled in the Sustainable Tourism Market Report
- 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.
Key Coverage in the Sustainable Tourism Market Report
- Adjacent study on low-impact tourism market and ethical tourism market.
- Elaborate study on India sustainable tourism industry size.
- Sustainable tourism development in Middle East and Africa.
Report Preview: https://www.futuremarketinsights.com/reports/sustainable-tourism-sector-overview-and-analysis
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