Ecotourism Market Size to Hit US$ 333.8 Billion by 2027, Growing Almost 14.3% CAGR

Ecotourism Market

The travel agent segment is expected to gain market share in the upcoming years and is estimated to grow at a CAGR of 14.7% during the forecast period.

The group traveler segment led in terms of ecotourism market share, in 2019; however, the solo traveler segment is expected to gain market share in the upcoming years.”

— Roshan Deshmukh

WILMINGTON, NEW CASTLE, DELAWARE 19801 USA, UNITED STATES, April 1, 2024 /EINPresswire.com/ — According to the report, The global “Ecotourism Market by Traveler Type, Age Group, and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2021-2027″. The report offers thorough analysis of prime investment opportunities, successful strategies, drivers, opportunities, market size estimations, competitive landscape, and evolving market trends. 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.

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Increase in travel and tourism to unique destinations, inclination toward exploration of wildlife, coral reefs, and pristine undisturbed natural areas, and surge in focus on sustainability drive the global ecotourism market. However, low availability of accommodation and limited availability of quality and hygienic restaurants at destinations hinder the market growth. On the other hand, public-private partnerships in the form of subsidizing air routes to remote tourist destinations, improvement of transport capabilities, and providing ease of access create new opportunities in the coming years.

Ecotourism is a travel approach that places significant importance on the conservation and protection of the natural environment. Aligned with the principles of sustainable tourism, it seeks to reduce adverse effects on the natural ecosystem. Ecotourism entails exploring secluded and untouched destinations where the focal points are the indigenous wildlife, plant life, and cultural heritage. The market encompasses spending by travelers from North America, Europe, Asia-Pacific, and LAMEA. It is important to note that the study of the ecotourism market specifically pertains to international outbound travel.

Recent years have seen increased popularity of eco-tourism around the world. The global tourism industry is undergoing paradigm shift with increased environmental consciousness. As a result, stakeholders across the industry are promoting natural, unadulterated and pristine destinations to lure tourists. Preserving natural resources along with accommodating large tourists with minimal impact on the environment remains core objective for the engaged stakeholders.

Surge in travel and tourism toward unique attractions, preference for exploration of wildlife, coral reefs, and remote natural areas, and focus on sustainability fuel the global ecotourism market. However, lack of proper accommodation and scarcity of quality and hygienic restaurants at destinations restrain the market growth.

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. The global market is studied across North America, Europe, Asia Pacific and LAMEA region which consists of market evaluation for more than 20 countries.

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Based on region, North America is projected to witness the highest CAGR of 16.2% during the forecast period, owing to large number of environment-conscious travelers and rapid adoption of digital media to search and travel to new destinations. However, Asia-Pacific held the largest share in terms of revenue in 2019, accounting for nearly two-fifths of the global ecotourism market, and will maintain its dominance in terms of revenue by 2027. This is attributed to presence of large number of millennial travelers supported by increased disposable income and expansion of infrastructure.

Some of the major players profiled for in the ecotourism market analysis includes 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

𝐄𝐱𝐩𝐥𝐨𝐫𝐢𝐧𝐠 𝐆𝐫𝐨𝐰𝐭𝐡 𝐏𝐫𝐨𝐬𝐩𝐞𝐜𝐭𝐬 𝐚𝐧𝐝 𝐃𝐞𝐦𝐚𝐧𝐝 𝐓𝐫𝐞𝐧𝐝𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐄𝐜𝐨𝐭𝐨𝐮𝐫𝐢𝐬𝐦 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

𝐑𝐢𝐬𝐢𝐧𝐠 𝐄𝐧𝐯𝐢𝐫𝐨𝐧𝐦𝐞𝐧𝐭𝐚𝐥 𝐂𝐨𝐧𝐬𝐜𝐢𝐨𝐮𝐬𝐧𝐞𝐬𝐬: With growing concerns about climate change, deforestation, and biodiversity loss, travelers are increasingly seeking out experiences that align with their values of environmental conservation and sustainability. Ecotourism offers a way for travelers to minimize their environmental impact while supporting conservation efforts.

𝐆𝐨𝐯𝐞𝐫𝐧𝐦𝐞𝐧𝐭 𝐒𝐮𝐩𝐩𝐨𝐫𝐭 𝐚𝐧𝐝 𝐏𝐨𝐥𝐢𝐜𝐢𝐞𝐬: Many governments around the world are recognizing the potential of ecotourism to drive economic growth while preserving natural habitats. They are implementing policies and regulations to promote sustainable tourism practices and protect fragile ecosystems, which in turn stimulates growth in the ecotourism sector.

𝐂𝐨𝐧𝐬𝐮𝐦𝐞𝐫 𝐃𝐞𝐦𝐚𝐧𝐝 𝐟𝐨𝐫 𝐀𝐮𝐭𝐡𝐞𝐧𝐭𝐢𝐜 𝐄𝐱𝐩𝐞𝐫𝐢𝐞𝐧𝐜𝐞𝐬: Modern travelers are looking for more authentic and meaningful experiences that allow them to connect with nature and local communities. Ecotourism destinations offer opportunities for immersive experiences such as wildlife safaris, birdwatching, and sustainable cultural exchanges, which appeal to this demand.

𝐀𝐝𝐯𝐚𝐧𝐜𝐞𝐦𝐞𝐧𝐭𝐬 𝐢𝐧 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲 𝐚𝐧𝐝 𝐀𝐜𝐜𝐞𝐬𝐬𝐢𝐛𝐢𝐥𝐢𝐭𝐲: Technological advancements have made it easier for travelers to discover and book ecotourism experiences, as well as access remote and pristine destinations. Improved transportation infrastructure and communication networks have also made previously inaccessible areas more reachable, opening up new opportunities for ecotourism development.

𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞 𝐒𝐨𝐜𝐢𝐚𝐥 𝐑𝐞𝐬𝐩𝐨𝐧𝐬𝐢𝐛𝐢𝐥𝐢𝐭𝐲 (𝐂𝐒𝐑) 𝐈𝐧𝐢𝐭𝐢𝐚𝐭𝐢𝐯𝐞𝐬: Many businesses in the travel and hospitality industry are incorporating ecotourism principles into their CSR strategies. This includes investing in sustainable infrastructure, supporting local conservation projects, and promoting responsible tourism practices. Corporate involvement helps to further drive demand for ecotourism experiences.

𝐄𝐦𝐞𝐫𝐠𝐞𝐧𝐜𝐞 𝐨𝐟 𝐒𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐥𝐞 𝐀𝐜𝐜𝐨𝐦𝐦𝐨𝐝𝐚𝐭𝐢𝐨𝐧 𝐎𝐩𝐭𝐢𝐨𝐧𝐬: The rise of eco-friendly accommodation options, such as ecolodges, eco-resorts, and sustainable campsites, provides travelers with choices that minimize their environmental footprint while still offering comfortable amenities. These accommodations often operate with renewable energy sources, employ local staff, and contribute to conservation efforts.

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𝐊𝐞𝐲 𝐁𝐞𝐧𝐞𝐟𝐢𝐭𝐬 𝐅𝐨𝐫 𝐒𝐭𝐚𝐤𝐞𝐡𝐨𝐥𝐝𝐞𝐫𝐬:

○ The report provides an extensive analysis of the current and emerging ecotourism market trends and opportunities.
○ The report provides detailed qualitative and quantitative analysis of the current trends and future estimations that help evaluate the prevailing ecotourism market opportunities in the market.
○ The ecotourism market forecast is offered along with information related to key drivers, restraints, and opportunities.
○ The market analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
○ The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth.

𝐑𝐞𝐚𝐬𝐨𝐧 𝐭𝐨 𝐁𝐮𝐲 𝐄𝐜𝐨𝐭𝐨𝐮𝐫𝐢𝐬𝐦 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭:

• Procure strategically important competitor information, analysis, and insights to formulate effective R&D strategies.
• Recognize emerging players with potentially strong product portfolio and create effective counter-strategies to gain competitive advantage.
• Classify potential new clients or partners in the target demographic.
• Develop tactical initiatives by understanding the focus areas of leading companies.
• Plan mergers and acquisitions meritoriously by identifying Top Manufacturer.
• Develop and design in-licensing and out-licensing strategies by identifying prospective partners with the most attractive projects to enhance and expand business potential and Scope.
• Report will be updated with the latest data and delivered to you within 2-4 working days of order.
• Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
• Create regional and country strategies on the basis of local data and analysis.

𝐑𝐞𝐚𝐬𝐨𝐧 𝐭𝐨 𝐁𝐮𝐲 𝐄𝐜𝐨𝐭𝐨𝐮𝐫𝐢𝐬𝐦 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭:

• Mergers and acquisitions should be well-planned by identifying the best manufacturer.
• Sort new clients or possible partners into the demographic you’re looking for.
• Suitable for providing dependable and high-quality data and analysis to assist your internal and external presentations.
• Develop tactical initiatives by gaining a better grasp of the areas in which huge corporations can intervene.
• To increase and grow business potential and reach, develop and plan licencing and licencing strategies by finding possible partners with the most appealing projects.
• Recognize newcomers with potentially strong product portfolios and devise effective counter-strategies to acquire a competitive edge.
• To develop effective R&D strategies, gather information, analysis, and strategic insight from competitors.

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 “𝐀𝐌𝐑 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:

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Originally published at https://www.einpresswire.com/article/700264982/ecotourism-market-size-to-hit-us-333-8-billion-by-2027-growing-almost-14-3-cagr

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