The most recent statistics by FMI indicate that the Museums Tourism Market could be worth around stunning US$ 25.2 billion in 2023. However, the market outlook is much more intriguing as FMI projects a phenomenal CAGR of 11.5% from 2023 to 2033. By 2033, this business is anticipated to grow to a staggering US$ 74.8 billion in value bringing the global museum tourism industry to new heights.
People are lured to museums’ captivating experiences due to the widespread appreciation of art, history, science, and cultural heritage. The depths of human invention, ingenuity, and history offer an immersive and instructive experience and that is to encourage tourists to visit museums. In addition to this, the recent rise in footfalls in museums globally can be ascribed to extensive collections, interactive displays, and captivating narratives.
As cultures become increasingly interconnected, international travelers are also increasingly looking for meaningful experiences beyond sightseeing. So, the museums tourism business, which provides a window into a place’s spirit and fosters a deeper appreciation for its regional and aesthetic characteristics, is in high demand these days. In conclusion, the overall market size is poised to expand as more people value learning about our common past and honoring creative accomplishments.
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Key Takeaways from the Museums Tourism Market Study Report
- The revenue share generated by the museums tourism market player based in the United was figured to be promising by the survey report. In 2022, the United States created a market opportunity for 5% of the global revenue share in museum tourism.
- Australia was found to have contributed to nearly 6% of the global revenue generated by the overall museums tourism industry.
- The tourism industry for museums is expected to rise rapidly in the Asia Pacific region, demonstrating their ongoing appeal in countries here. China, for instance, is projected to follow a year-on-year growth rate of 5.3% in the adoption of museum tourism services between 2023 and 2033.
- India is another remarkably growing museum tourism sector market and is expected to register a 4% yearly growth rate during the forecast years.
Competitive Landscape for the Museums Tourism Market Players
Louvre, National Museum of China, Russian Museum, National Museum of Natural History, Multimedia Art Museum, and National Gallery of Art are some top players. These leading players have changed the museum experience over the years with technological improvements, making it more interactive and interesting than before.
Galleria degli Uffizi, Museo Reina Sofía, Tretyakov Gallery, Centre Pompidou, Tate Modern, and London Science Museum are also emerging players in the report. Such emerging players or museums are embracing innovation, including displays that employ virtual and augmented reality and multimedia installations.
Recent Developments by the Museums Tourism Service Providers
- In January 2023, the British Museum in London revealed the beginning of its new ‘Museums at Night’ initiative. This program may allow visitors and tourists to explore the museum after hours.
- In December 2022, the Metropolitan Museum of Art in New York City announced the launch of its brand-new ‘MetKids’ app. The organization claims this digital platform may provide engaging educational opportunities for kids visiting the museum.
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Global Museums Tourism Market by Category
By Museum Type:
- Art Museum
- History Museum
- National Museum
- Science Museum
- Other Museum Types
By Booking Channel:
- Online Booking
- In Person Booking
- Domestic
- International
By Tour Type:
- Independent Traveler
- Group Trip
- Family trip
- Student trip
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
- 66 to 75 Years
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa (MEA)
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