The “Global Sustainable Tourism Market 2019-2023” report has been added to ResearchAndMarkets.com’s offering.
The sustainable tourism market will register a CAGR of over 10% by 2023.
The huge shift from traditional traveling to authentic and local travelling experiences with the changing tourist preferences has been identified as one of the critical reasons that will drive the sustainable tourism market.
Tourists are undertaking adventure trips in public transport instead of taxis, purchasing local products instead of souvenirs, and dining at restaurants that uses local and low-impact primary ingredients such as honey, cheese, and meat. This is one of the most significant aspects of sustainable tourism as it is supported by the growing awareness of environmental impacts of tourism.
Shifting preference toward local and authentic experiences
One of the growth drivers of the global sustainable tourism market is the shifting preference toward local and authentic experiences. The preference of several tourists is shifting from traditional traveling to local and authentic traveling experiences which is expected to drive the market during the forecast period.
High cost associated with green travel
One of the challenges in the growth of the global sustainable tourism market is the high cost associated with green travel. Sustainable tourism is expensive compared with traditional tourism which is expected to hinder the growth of the market.
The market appears to be moderately fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.