Sustainable Tourism Market Type (Coastal Tourism, Mountain Tourism, Island Tourism) Application (Solo, Group, Family, Couples) Age Group (Millennial, Baby Boomers, Generation X, Silver hair) : Global Opportunity Analysis and Industry Forecast, 2022-2029

Sustainable tourism can be defined as a form of tourism that meets the requirements of the tourism industry, tourists, and the community without neglecting the needs of the future generations. Sustainable tourism includes part of eco-tourism, environmentally friendly tourism, alternative tourism, responsible tourism, soft tourism, and minimum impact tourism. Sustainable tourism is a tourism that has accommodation, entertainment, shopping but with protecting the host community. It has principles that ensure social equity, economic efficiency, and environmental conservation. The government is taking steps to promote sustainable tourism. It is to maximize the positive impact of tourism to maintain the biodiversity and the economy. It is to ensure profitability with environmental beauty.

Market scope and structure analysis:

COVID-19 Scenario Analysis: 

• The novel COVID-19 has heavily impacted the tourism industry.

• Restriction on travel and transportation has caused heavy losses for the global destinations and hotels.

• Due to COVID-19 there is a risk of 200 million job loss in tourism in future. 

• According to UNWTO stats shows tourist arrival decreased by 22% in Q1 2020.

• Travel and tourism play an important role in the country’s GDP but due to COVID pandemics, GDP has decreased.

Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Increase in awareness about the environment, shifts in the preferences to local experiences, and people's interest in exploring new cultures, and cuisine drive the growth of global sustainable tourism market. However, the factors that can hamper the growth of sustainable tourism are government policies, lack of investment, resources, and high cost on travel. Even so, sustainable tourism can grow in the future with the increase of this type of tourism. Some governments are also providing help for the development of sustainable tourism.

The global sustainable tourism market trends are as follows:

• For the development of sustainable tourism, the tourist accommodation places are providing sustainable luxury and cultural awareness. A resort in Fiji has 100% solar power, stores rainwater, and has its water-filtration to eliminate the single-use plastic bottles.

• There are different foundations, which focus on the development of sustainable tourism. There is a non-profit foundation in Switzerland that improves the livelihoods of people and contributes to intercultural understanding between local and tourists.

• Hotels and resorts are collaborating with the companies that can help them in the development of sustainable tourism.

• The sustainable tourism market has become very popular and is adopted by many countries like Bhutan. Bhutan tourism has a principle of high value, low impact. They have opted for controlled tourism to sustain and conserve the environment.

Key Segments Covered:

Key Benefits of the Report:

• This study presents the analytical depiction of the global sustainable tourism industry along with the current trends and future estimations to determine the imminent investment pockets.

• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global sustainable tourism market share.

• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global sustainable tourism market growth scenario.

• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 

• The report provides a detailed global sustainable tourism market analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions Answered in the Sustainable Tourism Market Research Report:

• What are the leading market players active in the sustainable tourism market?

• What the current trends will influence the market in the next few years?

• What are the driving factors, restraints, and opportunities in the market?

• What future projections would help in taking further strategic steps?

 Key Market Segments & Key Market Players