Rural Tourism Market: Experience Majestic Peace and Harmony in Nature's Lap will grow at highest pace owing to Increasing preference for offbeat experiences
Key advantages of rural tourism include experiencing local lifestyle and culture, opportunities for interacting with local communities, engagement with natural environmental settings, learning of traditional vocations and indigenous lifestyles. The growing popularity of experiential travel and interest in rural experiences are driving the demand for rural tourism offerings.
The Global Rural Tourism Market is estimated to be valued at US$ 177.78 Bn in 2024 and is expected to exhibit a CAGR of 7.1% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the global rural tourism market are The Greener Pastures, Culture Aangan, Grassroutes, Muddy Boots, Navadarshanam, CENTRAL NODAL AGENCY, Incredible Rural India, Trippin Traveller, Travel and Transport, Altour, Direct Travel, World Travel Inc, Omega World Travel, Frosch, JTB Americas Group, Ovation Travel Group.
The demand for rural tourism experiences is growing owing to rising inclination of tourists towards participating in authentic activities and cultural interactions. Emergence of numerous rural stay experiences and farm stays are attracting large number of tourists.
Major players are expanding their presence across rural areas globally to tap the vast potential. Numerous under developed regions are being promoted as rural tourism destinations to boost local economic development and generate employment opportunities.
Market Drivers
Increasing interest of millennials in experiential travel and unique experiences is a key growth driver. Millennials have greater spending power and inclination towards participating in activities that help them engage with local culture and communities. Growing popularity of social media is encouraging rural experiences sharing that is attracting more travelers. Enhanced connectivity through road, rail and air transport infrastructure is making remote rural regions more accessible as tourism hotspots.
The Rural Tourism Market Growth is facing uncertainty due to the ongoing geopolitical tensions arising from the Russia-Ukraine war. Countries around the world including Eastern European nations are facing challenging economic conditions with disrupted supply chains and inflationary pressures building up. Rural areas which depend on tourism are getting impacted more severely. However, there are some regions within the European tourism market that have scope for growth. Rural destinations in Central and Western European nations may see relatively higher tourist inflow as travelers seek safer locations away from the war zone. The rural tourism industry will need to focus on newer emerging markets in Asia Pacific and Latin American regions in the coming years to offset losses. Diversifying the portfolio across multiple low risk countries and promoting niche experiences can help maintain steady growth.
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