Global Ecotourism Market is Expected to Foresee Significant Growth During the Forecast Period. North America to Witness the Highest Growth
- Himanshu Patni
- June 15, 2022
- CONSUMER GOODS, NEWS
- Ecotourism Market, Ecotourism Market Share, Ecotourism Market Size
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The global ecotourism market is expected to grow significantly by 2027 expanding at an exponential CAGR during the forecast period. Ecotourism involves visiting natural areas to learn, study, or carry out activities environmentally friendly, that is, tourism based on the nature experience, which enables the economic and social development of local communities. As per the findings from booking.com in 2019, almost three-quarters (73%) of global travelers intend to stay at least once in an eco-friendly or green accommodation when looking at the year ahead. Additionally, 70% of global travelers say they would be more likely to book an accommodation knowing it was eco-friendly, whether they were looking for a sustainable stay or not.
For a detailed analysis of Ecotourism browse through – https://univdatos.com/report/ecotourism-market/
More than 90 nations have an ecotourism or sustainable tourism initiative nationally or at a regional level. This has happened in the last 30 years; there is no other form of tourism or industry that has become so fundamental to the global economy so quickly. Travelers, who made over 10 billion visits to natural areas last year, have greatly increased both their awareness of ecotourism and their willingness to increase payment to ensure a sustainable travel experience. 71% of people under 30 say sustainable travel is a priority.
The COVID-19 pandemic has taken a significant toll on communities across the world and has had a devastating effect on Travel & Tourism. For 30 years, the World Travel & Tourism Council (WTTC) has been quantifying the economic impact of Travel & Tourism, highlighting the importance of the sector to the global economy. As a result of COVID-19 and the ongoing restrictions on international mobility, the Travel & Tourism sector suffered losses of almost USD 4.5 trillion, with its global contribution to GDP declining by 49.1% compared to 2019 to reach only USD 4.7 trillion in 2020; relative to a 3.7% GDP decline of the global economy. Domestic visitor spending decreased by 45%, whilst international visitor spending fell by an unprecedented 69.4%. In 2020, 62 million jobs were lost, leaving just 272 million employed across the sector globally. This 18.5% decrease was felt across the entire Travel & Tourism ecosystem, with Small and Medium-Sized Enterprises (SMEs), which make up 80% of all global businesses in the sector, being particularly affected. Moreover, this decrease has disproportionately impacted SMEs, women, youth, and minorities.
For a detailed analysis of the traveler type of ecotourism browse through – https://univdatos.com/report/ecotourism-market/
Based on the traveler type, the market is fragmented into solo and group. The group segment grabbed major market share and dominated the market. The key benefits of group traveling such as safety, tour guide, affordable accommodation, restaurants, etc., are contributing to the growth of this segment. As per a solo traveler world survey, 4% of respondents like group travel at least some of the time. That’s up from 34% in the 2017 survey.
Based on the age group, the market is fragmented into generation x, generation y, and generation z. The generation Y segment dominated the market. As per U.K Based tour and travel agents, Vacations at all ages create significant income for the tourism industry, with baby boomers spending over $6,600 on their 2019 holidays and a third of millennials willing to spend $5000 or more on their travel a year.
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Additionally, the report provides detailed initiatives that are being taken in the field of Pet Ecotourism. The market is classified into distinct regions including North America (the U.S, Canada, Rest of North America), Europe (Germany, France, Spain, Italy, and United Kingdom and the Rest of Europe), Asia-Pacific (China, Japan, Australia, India, and the Rest of APAC), Rest of World has been conducted. Asia Pacific region grabbed major share in 2020. The emerging tour and travel industry in the Asia Pacific region owing to the rising number of solo travelers, rising disposable income, etc. is contributing to the growth of the ecotourism market. As per World Travel and Tourism Council, the Asia-Pacific tour and travel industry contributed around 9.8 to the GDP in 2021 worth USD 3,294.3 Bn.
Global Ecotourism Market Segmentation
Market Insight, by Traveller Type
- Solo
- Group
Market Insight, by Age Group
- Generation X
- Generation Y
- Generation Z
Market Insight, by Sales Channel
- Travel Agents
- Direct
Market Insight, by Region
- North America
- United States
- Canada
- Rest of North America
- Europe
- France
- Germany
- Spain
- Italy
- United Kingdom
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- 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
