The global ecotourism market surged in 2023, reaching USD 216.49 billion, and is anticipated to hit USD 598.89 billion by 2030, with a robust CAGR of 15.65%. This flourishing market is fueled by a growing global interest in responsible travel and eco-friendly experiences.
Information Source: https://www.fortunebusinessinsights.com/ecotourism-market-108700
List of Key Players Profiled in the Ecotourism Market Report:
- G Adventures (Canada)
- Adventure Alternative Ltd (Ireland)
- ROW Adventures (U.S.)
- Steppes Travel (U.K.)
- Aracari (U.S.)
- Small World Journeys (Australia)
- Black Kite Tour (Ethiopia)
- Global Sustainable Ecotours (U.S.)
- Discover Corps (U.S.)
- Rickshaw Travel Group (Tanzania)
Segments:
Nature & Wildlife Tourism: Witnessing Momentum
With a surge in awareness about wildlife conservation, nature & wildlife tourism dominates the ecotourism sector. Travelers are increasingly opting for experiences that allow them to appreciate and contribute positively to the environment.
Group Travelers: Rising Prominence
Group travel is on the rise, thanks to enticing holiday packages tailored for couples and groups. Travel companies are capitalizing on this trend by offering attractive deals on travel and accommodation bookings.
Direct Booking Mode: Gaining Traction
Direct booking via company websites and mobile applications is gaining popularity, driven by increasing internet penetration. This streamlined approach simplifies the booking process, enhancing the overall customer experience.
Millennials: Driving Growth
Millennials are spearheading the growth of ecotourism, influenced by social media and a desire to experience diverse cultures firsthand. This demographic segment is rapidly embracing responsible travel practices.
Regional Insights:
Europe: Leading the Charge
Europe dominates the global ecotourism market, with a burgeoning interest in eco-conscious travel. Regional governments are actively promoting responsible tourism, creating numerous growth opportunities.
Asia Pacific: Promising Growth Prospects
Asia Pacific is poised for substantial growth in ecotourism, fueled by factors such as rising disposable incomes, urbanization, and increasing employment opportunities.
COVID-19 Impact: The COVID-19 pandemic dealt a severe blow to the ecotourism sector, with governments imposing travel bans worldwide. This led to a significant decline in tourist numbers, hindering market growth temporarily.
Competitive Landscape: The ecotourism market is highly competitive, with leading players like ROW Adventures and G Adventures employing various strategies such as partnerships, mergers, and acquisitions to maintain competitiveness.
Key Industry Developments (February 2021):
- Wilderness England, a new travel operator, announced plans to launch 17 adventure programs, offering tourists diverse cultural and outdoor experiences in England.
