Sustainable Tourism Market Size to grow by USD 426.6 billion between 2024-2028
According to a research report “ Sustainable Tourism Market” by Type (Domestic, International) Channel (Phone booking, Online booking, In-person booking) Geography (Europe, North America, APAC, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 426.6 billion, at a CAGR of 10.87% during the forecast period. In the travel and tourism industry, leading multinational hotels and companies such as And Beyond Holdings (Proprietary) Ltd. (And Beyond), BOUTECO Ltd. (BOUTECO), Intrepid Group Ltd. (Intrepid Group), Kind Traveler PBC (Kind Traveler), Responsible Travel, and Wild Frontiers Adventure Travel Ltd. (Wild Frontiers Adventure Travel), are collectively intensifying their efforts to ensure the sustainability of their supply chains. This collaborative approach is anticipated to generate a significant positive impact on the sustainable tourism market, given the extensive reach of these corporations across various tourism sectors. Moreover, the adoption of sustainable reporting practices by numerous large-scale travel and tourism operators has been instrumental in raising awareness and prioritizing the reduction of environmental impact within their operations. This commitment to transparency and accountability is not only beneficial for the environment but also enhances the reputation and competitive edge of these companies in the market..
Browse market data tables, figures, and in-depth TOC on “Sustainable Tourism Market” by Type (Domestic, International) Channel (Phone booking, Online booking, In-person booking) Geography (Europe, North America, APAC, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample
By Type, the Domestic segment is projected to dominate the market size in 2024
In the business sphere, sustainable tourism represents a significant market trend, prioritizing environmental stewardship, social equity, and economic viability. Companies embracing this approach align with global initiatives, such as the United Nations Sustainable Development Goals, ensuring long-term growth while minimizing negative impacts on local communities and ecosystems. Investing in sustainable practices, like eco-certification, renewable energy, and community engagement, not only enhances brand reputation but also attracts eco-conscious consumers.
By Channel, Phone booking segment is expected to hold the largest market size for the year 2024
In the dynamic business landscape, sustainable tourism has emerged as a lucrative market segment. This sector prioritizes environmental conservation, social equity, and economic viability. Companies that adopt eco-friendly practices, engage local communities, and generate long-term economic benefits are gaining a competitive edge. Sustainable tourism not only aligns with corporate social responsibility objectives but also appeals to increasingly conscious consumers. This market trend is expected to continue, offering significant growth opportunities for businesses.
Europe is forecasted to hold the largest market size by region in 2024
The sustainable tourism market represents a significant business opportunity for companies committed to eco-friendly practices. This sector prioritizes minimal environmental impact, cultural sensitivity, and community involvement. By catering to the growing demand for responsible travel, businesses can differentiate themselves, build brand loyalty, and contribute positively to local economies and ecosystems. Sustainable tourism is not just a trend, but a long-term business strategy for success.
The Sustainable Tourism Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
Sustainable tourism is an essential approach to travel that minimizes the negative impact on the environment, local population, and cultural heritage. With the increasing concern for carbon emissions, loss of biodiversity, depletion of forests, and environmental deterioration, sustainable tourism has gained significant importance. The tourism value chain, from in-person booking to package travelers and tour groups, plays a crucial role in implementing sustainable practices. Moral principles, respect for indigenous cultures, and preservation of biodiversity are at the core of sustainable tourism. Ecological tourism and community tourism are popular sustainable tourism models that focus on minimal impact on the environment and support local communities. Soft tourism and green tourism are other sustainable tourism practices that prioritize the use of renewable energy and reduce waste. Policies and regulations, such as those set by organizations like G Adventures and Cheesemans Ecology Safaris, play a critical role in promoting sustainable tourism. Travelers can also contribute by choosing eco-tourism and community-based tourism, booking online or in-person, and being mindful of their actions while traveling. Wilderness areas, which are essential for preserving biodiversity, are best explored through sustainable tourism practices. Together, we can ensure that tourism benefits local communities and the environment while reducing our carbon footprint.
Market Research Overview
Sustainable tourism is an increasingly popular trend in the global travel industry, with a growing emphasis on cultural events, galleries, museums, and historical landmarks. This type of tourism prioritizes the conservation of natural resources, animal welfare, and the preservation of indigenous cultures. Sustainable tourism encompasses various forms, including marine travel, rural travel, urban tourism, city breaks, ecotourism, outdoor sports, couples tourism, family tourism, group tourism, solo tourism, island tourism, and mountain tourism. The younger generations, particularly Generation Z and millennials, are driving this shift in consumer behavior due to their environmental concerns. Tourism organizations and educational institutions are responding with instructional programs and communication channels to promote cross-cultural understanding and eco-friendly travel options. Governments and eco-travel suppliers are offering financial incentives such as subsidies, tax exemptions, grants, and loans to promote sustainable tourism. Agreements and initiatives, such as those between Invest India and ForwardKeys, are also encouraging in-person booking, online booking, and phone booking to reduce carbon emissions. CSR initiatives, conservation efforts, and animal welfare are also key components of sustainable tourism. Policies and regulations, such as those implemented by G Adventures and Cheesemans Ecology Safaris, ensure that eco-tourism and green tourism practices are adhered to throughout the tourism value chain. The sustainable tourism market is diverse and includes soft tourism, community tourism, and eco-tourism. It prioritizes moral principles, biodiversity, and the environment, with a focus on ecological tourism and the welfare of local populations and visitors.
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