Report Code: A06364 | Pages: 211 | Jan 2021 | 29508 Views | ||
Author(s) : Himanshu V , Roshan D | Tables: 127 | Charts: 50 |
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Request Now !The ecotourism market size was valued at $181.1 billion in 2019, and is expected to reach $333.8 billion by 2027, registering a CAGR of 14.3% from 2021 to 2027. The group segment led in terms of ecotourism market share in 2019 and is expected to retain its dominance throughout the forecast period.
Ecotourism is a form of travel that puts a great emphasis on maintaining and preserving the nature. This form of tourism comes under the concept of sustainable tourism which aims to minimize negative impact on natural ecosystem. Ecotourism involves travelling to remote and pristine destinations where the fauna, flora, and cultural heritage are the center of attractions. The market includes expenditure incurred by travelers from North America, Europe, Asia-Pacific, and LAMEA. The ecotourism market is studied for international outbound travel only.
The rise of travel and tourism to unique destinations has shown significant resilience globally. Iceland, Kenya, Palau, and Nepal are the trending hotspots in unique eco-tourism destinations across the globe. Nepal witnessed a monumental 24% increase in travelers in 2018 recording about 1,173,072 travelers at the end of the year. Similarly, Kenya's 2018 tourist arrivals increased by more than 37% crossing the two million mark. Furthermore, countries such as Costa Rica, Galapagos Islands, and Panama, are now becoming cynosure for eco-tourism. Ethiopia has performed competently in the last few years by focusing on niche markets in contrast with the country’s historical, natural, and cultural tourism assets. Wildlife tourism, birdwatching, coral reefs and pristine undisturbed natural areas such as Amazon forests, have attracted travelers to the third world countries across the globe.
Inadequate support infrastructure at ecotourism destinations like inadequate air, rail or road connectivity to various ecotourism destinations in developing and under developed countries are major challenges for the proliferation of ecotourism. Furthermore, low availability of accommodation along with limited availability of quality and hygienic restaurants, food outlets and hotels at destinations hampers the growth of the ecotourism tourist arrivals particularly in the developing regions. In addition, monopoly of few tourist guides along with insufficient availability of certified and trained tourist guides aggravate the risk of exploitation of tourists
The past decades have seen increasing interest and demand for sustainable tourism. As a result, the paradigm shift in consumer behavior has resulted in increased focus on sustainability; thus, driving changes in both tourism promotion and marketing along with product development. Public-private partnerships in the form of subsidizing air routes to remote tourist destinations, improving transport capabilities and ease of access will result in market expansion, thereby providing lucrative opportunities for the local stakeholders.
The global ecotourism market is segmented on the basis of type of traveler, age group, sales channel and region. Based on type of traveler, the global market is bifurcated into solo and group. On the basis of age group, the global market is studied across generation X, generation Y and generation Z. By sales channel, the market is segmented into travel agents and direct. BY region, the global market is studied across North America, Europe, Asia Pacific and LAMEA region which consists of market evaluation for more than 20 countries.
On the basis of traveler type, the global ecotourism market is segmented into solo traveler and group traveler. Group traveler segment leads in terms of market share however, solo traveler segment is poised to grow with higher CAGR during the forecast period. There has been a significant increase in people who want to travel solo and this has encouraged travel companies as well as travel agents to provide facilities not only for group traveler but also for people who travel alone.
On the basis of age group the global ecotourism market is segments into Generation X, Generation Y and Generation Z. Generation Y segment constitutes the major share in the global market however, Generation Z segment is poised to grow with highest CAGR during the forecast period.
On the basis of sales channel, the global market for ecotourism is studied across travel agents and direct. Travel agents holds the maximum market share in the global market and is poised to grow with highest CAGR during the forecast period.
The report focuses on the ecotourism market growth prospects, restraints, and opportunities of the global ecotourism market. The study provides Porter’s five forces analysis to understand the impact of various factors such as competitive intensity of competitors, bargaining power of suppliers, threat of substitutes, threat of new entrants, and bargaining power of buyers of the ecotourism market.
Some of the major players profiled in the report include Travel Leaders Group LLC, Aracari Travel, FROSCH International Travel Inc., Undiscovered Mountains Ltd, Adventure Alternative, Intrepid Group Limited, Rickshaw Travel Group, G Adventures, Steppes discovery and Small World Journeys Pty Ltd.
Key Benefits For Stakeholders
Ecotourism Market Report Highlights
Aspects | Details |
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BY TRAVELER TYPE |
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BY AGE GROUP |
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BY SALES CHANNEL |
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BY REGION |
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Key Market Players | ADVENTURE ALTERNATIVE LTD, ARCARI TRAVEL, FROSCH INTERNATIONAL TRAVEL, INC, G ADVENTURES, INTREPID GROUP LIMITED, RICKSHAW TRAVEL GROUP, SMALL WORLD JOURNEYS PTY LTD, STEPPES TRAVEL LTD, TRAVEL LEADERS GROUP, LLC, UNDISCOVERED MOUNTAINS LTD |
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Travelers now a days are opting for unique and exotic holiday destinations, to get away from the daily hectic schedule and gain valuable experiences. Pristine, quite, serene, and exotic locations are the major factors that people consider while choosing their travel location. As a result, natural and unadulterated destinations are gaining high traction among travelers, especially among millennials.
The growing tourism industry is exerting high pressure on natural resources. As a result, focus on maintaining environmental integrity and developing tourism in ecologically sustainable manner remains a priority for the engaged stakeholders. Various initiatives by governments for facilitating tourist access and improving the destination experience are in place in order to promote and expand ecotourism. PPPs can be an effective tool for tourism product enhancement and development, along with research, promotion and marketing. From social collaboration to major infrastructure and development projects, public-private partnership can play a vital role in transforming ecotourism
Travelers now a days are opting for unique and exotic holiday destinations, to get away from the daily hectic schedule and gain valuable experiences. Pristine, quite, serene, and exotic locations are the major factors that people consider while choosing their travel location. As a result, natural and unadulterated destinations are gaining high traction among travelers, especially among millennials.
The growing tourism industry is exerting high pressure on natural resources. As a result, focus on maintaining environmental integrity and developing tourism in ecologically sustainable manner remains a priority for the engaged stakeholders. Various initiatives by governments for facilitating tourist access and improving the destination experience are in place in order to promote and expand ecotourism. PPPs can be an effective tool for tourism product enhancement and development, along with research, promotion and marketing. From social collaboration to major infrastructure and development projects, public-private partnership can play a vital role in transforming ecotourism
A. The size of the global ecotourism market in 2019 was $181.1 Billion.
A. The global ecotourism market is projected to reach $333.8 Billion.
A. The global ecotourism market is likely to grow with a CAGR of 14.3% during the forecast period.
A. Generation Y segment is expected to lead the global ecotourism market during the forecast period.
A. Public–private partnerships are likely to provide remunerative opportunities for the engaged stakeholders.
A. Pursuit for unique destinations and growing consumer awareness drives the market growth however, inadequate support infrastructure challenges the market expansion.
A. Some of the major players operating in the market include Travel Leaders Group, LLC, Aracari Travel, FROSCH International Travel, Inc., .Undiscovered Mountains Ltd, Intrepid Group Limited, Rickshaw Travel Group, G Adventures, and Small World Journeys Pty Ltd
A. Asia Pacific region holds the highest market share in the ecotourism market.
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