The global sustainable tourism market is expected to post a CAGR over 10% during the period 2019-2023, according to the latest market research report by Technavio.
Organic sustainable tourism is a related niche market of the global sustainable tourism market. Growing concern about the environment is encouraging consumers to shift toward the consumption of organic food items and stay at organic accommodation facilities. This is propelling the popularity of sustainability practices and organic sustainable tourism, especially among European tourists. Many tourism operators are offering organic options with respect to food, drinks, and accommodation to gain a competitive edge over other competitors. Thus, the rising popularity of organic sustainable tourism will boost the growth of the sustainable tourism market during the forecast period.
As per Technavio, the shifting preference toward local and authentic experiences, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Sustainable Tourism Market: Shifting Preference Toward Local and Authentic Experiences
The growing inclination of tourists toward local and authentic travel experiences including the consumption of local food products is encouraging tourism operators to offer tour packages that allow tourists to explore local communities. With growing awareness about the ecological impact of tourism, numerous tourists are opting for adventure trips in public transportation instead of taxis. In addition, they prefer dinners at restaurants that use local primary ingredients instead of exotic and imported products. Thus, with the growing preference for local and authentic experiences, the market for sustainable tourism is expected to showcase a positive outlook during the forecast period.
“Rise in internet access and online testimonials and increase in eco-conscious travelers are some other major factors that will boost market growth during the forecast period”, says a senior analyst at Technavio.
Global Sustainable Tourism Market: Segmentation Analysis
This market research report segments the global sustainable tourism market by type (domestic and international) and geography (APAC, Europe, MEA, North America, and South America).
Europe led the market in 2018, followed by North America, APAC, South America, and MEA respectively. During the forecast period, Europe is expected to maintain its dominance over the global market. This is due to the establishment of sustainable tourism policies by governments of various countries in the region.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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