Sustainable Tourism Market Witnesses High Growth Owing to Growing Environmental Concerns
Sustainable tourism involves traveling and visiting places in a way that minimizes negative social, cultural and environmental impacts and aims to generate more benefits for local people and businesses. It focuses on local culture, environmental conservation and social well-being of local communities. Growing environmental concerns due to pollution, climate change and natural resource destruction has increased awareness towards protecting natural resources and has led to rise in demand for eco-friendly tourism activities.
The sustainable tourism market is estimated to be valued at USD 2.61 Bn in 2024 and is expected to reach USD 8.73 Bn by 2031, growing at a compound annual growth rate (CAGR) of 18.8% from 2024 to 2031.
Key Takeaways
Key players operating in the sustainable tourism market are Wilderness Safaris, Basecamp Explorer AS, Wild Frontiers Adventures Travel, Beyonder Experiences, Bouteco, Cheeseman’s Ecological Safaris, G Adventures Inc., Gondwana Ecotours, Inkaterra, Intrepid Group Pty Limited, LooLa Adventure Resort, NATIVE TOURS, INC., Natural Habitat Adventures, Responsible Travel, Row Adventures, Sustainable Travel International, Tourism Holdings Limited, Undiscovered Mountains, and Vagabond Tours Limited. These players are focusing on expanding their sustainable travel offerings and expanding globally.
The Sustainable Tourism Market Trends provides numerous growth opportunities such as expanding into new destinations, emerging sustainable travel trends and rising investments. Sustainable travel is picking up across various regions as customers are looking for eco-friendly vacation options. Key players are expanding globally into regions such as Asia Pacific, Latin America, Middle East and Africa to tap into the growing sustainable travel demand.
Market Drivers
One of the major driver for sustainable tourism market is growing awareness about impact of tourism on environment and local communities. People are becoming more conscious about their travel impact and prefer vacation plans which are low on carbon footprint and respect local cultures. Sustainable tourism helps in preserving natural and cultural heritage of destinations and improves livelihood of local communities.
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