Challenges and Opportunities in the Wildlife Tourism Market |...

Challenges and Opportunities in the Wildlife Tourism Market

Posted 2025-01-31 06:30:28

The global wildlife tourism market is expected to reach USD 286.86 billion by 2030, registering a CAGR of 7.9% over the forecast period, according to a new report by Grand View Research, Inc. Increased awareness about animal conservation, global authorities working towards boosting wildlife tourism, and the advent of digital nomadization where various countries are permitting digital nomad visas are factors driving the industry. Recent news on global warming and the extinction of species have pursued many travelers to go for wildlife tourism. This is propelled by the factor that entry fees of various sanctuaries and animal parks are invested towards the conservation of flora and fauna. The positive impact of such travel makes travelers visit these places frequently.

Such tourism also increases knowledge about the environment and sensitizes citizens towards its protection and growth. Post-pandemic, various organizations have made remote work a permanent culture. With this, there is a global dominance of solo traveling due to the growing concepts of ‘independence’ and ‘personal growth’. There has been a surge in travelers who earn a living through remote work. An article by Travel Off Path suggests that in the U.S., there has been an addition of 6 million more digital nomads than in the pre-pandemic era, and the worldwide figure stands at 35 million. With countries like Jamaica, Thailand, and Ecuador issuing digital nomad visas, this will further propel the industry growth.

Many travelers prefer traveling in groups with friends owing to the benefits of such trips. Various resorts and hotels have been cropping up in and around wildlife sanctuaries, which allows travelers to visit such places with friends for leisure as well as adventure. Key players allow travelers to choose their group and form a package, which encourages more travelers to travel with groups. For instance, Thomas Cook allows consumers to customize the number of adults traveling, and according to that, the prices are set. Sustainable operating practices are adopted by companies to attract more consumers.

Gather more insights about the market drivers, restrains and growth of the Wildlife Tourism Market

Wildlife Tourism Market Report Highlights

• The group/friends segment accounted dominated the industry in 2022 and accounted for the largest revenue share

• Benefits of group traveling, leisure and adventure activities done with groups and exclusive deals given by industry players are factors contributing to its growth. In addition, services offered to groups are cheaper and more convenient

• The direct booking segment held the highest revenue share in 2022 due to the conveniences offered

• This type of booking mode aids to form a deep relationship with travelers and results in lower consumer acquisition costs along with building a loyal customer base

• Consumers in Asia Pacific are increasingly opting for wildlife tourism. The availability of a large variety of flora and fauna in the geography and increasing disposable incomes are the key factors propelling industry growth. Tiger-spotting tours are very popular in this region