Heritage Tourism Market is Driven by Cultural Preservation
The heritage tourism market involves travels to experience the arts, architecture, folklife, and cultural landscapes that represent past ways of life. In recent times, there has been a growing interest in cultural tourism as it allows visitors to engage with living heritage and understand the rich cultural diversity of various destinations. The tourism acts as an economic driver for the preservation of historically and culturally important sites. It promotes appreciation for history and helps sustain the declining arts, crafts, music, dance, cuisine and language that are part of intangible cultural heritage.
The heritage tourism market is estimated to be valued at USD 709.25 Bn in 2024 and is expected to reach USD 1,151.3 Bn by 2031, growing at a compound annual growth rate (CAGR) of 7.17% from 2024 to 2031.
Cultural preservation is one of the major drivers of the Heritage Tourism Market. Visiting historical places helps generate funds for the restoration and maintenance of culturally significant architecture, arts and rituals that represent the roots of civilizations. The tourism encourages communities to pass on their traditions to future generations. It gives economic incentives to locals to continue practicing their culture and folk arts like rare crafts, performing arts and cuisine. This helps achieve the significant social outcome of keeping culture and heritage alive.
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