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Ecotourism Market to Reach $829.8 billion, Globally, by 2035 at 11.7% CAGR: Allied Market Research

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Allied Market Research

23 May, 2024, 10:33 GMT

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Increasing awareness of environmental issues among travelers has created a desire for sustainable and ethical tourist practices, resulting in a move towards experiences that have a low environmental effect, propelling the expansion of the ecotourism industry.

PORTLAND, Ore., May 23, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Ecotourism Market by Age Group (Generation X, Generation Y, Generation Z), Traveler Type (Solo, Group), and Sales Channel (Travel Agents, Direct): Global Opportunity Analysis and Industry Forecast, 2024-2035". According to the report, the "ecotourism market" was valued at $210.4 billion in 2023, and is estimated to reach $829.8 billion by 2035, growing at a CAGR of 11.7% from 2024 to 2035.

Request The Sample PDF of This Report: @
https://www.alliedmarketresearch.com/request-sample/A06364
 

Prime determinants of growth

The ecotourism market is driven by factors such as popularity of sustainable tourism among youths and mobile applications, big data analytics, and artificial intelligence evolving together amidst proliferating tourism industry. However, inadequate support infrastructure challenging market expansion and sustainability is a long-term challenge for ecotourism which restrict the market growth. Furthermore, public-private partnerships are expected to offer new opportunities in the coming years.

Report coverage & details:

Report Coverage

Details

Forecast Period

2024–2035

Base Year

2023

Market Size in 2023

$210.4 Billion

Market Size in 2035

$829.8 Billion

CAGR

11.7 %

No. of Pages in Report

230

Segments covered

Traveler Type, Age Group, Sales Channel, and Region

Regional Scope

North America, Europe, Asia-Pacific, Latin America, and LAMEA

Country Scope

U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, China, Japan, India, Australia, Malaysia, Thailand, Indonesia, Saudi Arabia, UAE, Brazil, Argentina, and South Africa

Drivers

Eco-mmodation—trending among millennials

Unique destinations gaining high traction among tourists.

Mobile applications, big data analytics, and artificial intelligence evolving together amidst proliferating tourism industry.

Rise of social media positively impacting the travel industry

Opportunities

Public-private partnerships to create lucrative opportunities for destinations

Restraints

Inadequate support infrastructure challenging market expansion

Sustainability a long-term challenge for ecotourism

The group segment to maintain its leadership status throughout the forecast period.

By traveler type, the group segment dominated the market in 2023 and is expected to continue this trend during the forecast period. Tourists prefer travelling in groups owing to security concerns at new and unexplored destinations. Furthermore, low expenses while travelling in a group lures tourists to opt for the same. In addition, shared interest and experience assist in bonding people together very quickly. Group traveling is hassle free, provides a sense of security, and is much more economical when compared to other counterparts.

Procure Complete Report (230 Pages PDF with Insights, Charts, Tables, and Figures): https://www.alliedmarketresearch.com/checkout-final/85a5dd2fbfd97a04e59344609c0311f2 

The Generation Y segment is expected to maintain its lead position during the forecast period.

On the basis of the age group, the Generation Y segment led the market in 2023 and is expected to maintain this trend during the forecast period. Generation Y are avid travelers comprising large number of people traveling worldwide. Generation Y tends to travel in groups, however, solo travelling to remote destinations is trending amongst millennials. Furthermore, they generally look for cultural and leisure breaks. Millennials are driven by wanderlust and breaking life's monotony; these group of youngsters prefer short trips to countries having naturally rich heritage.

The travel agent segment is expected to maintain its lead position during the forecast period.

On the basis of the sales channel, the travel agent segment led the market in 2023 and is expected to maintain this trend during the forecast period. Travel agents are the front runners for devising customized tours. These operators are experienced consultants, who have a deep knowledge of a particular region, and hence, offer first-hand experience and recommendations for designing tailor made tours. These operators also work very closely with a local agent in the destination country. The increase in the trend of tailor-made tours has resulted in increased demand for tour operators and agencies in recent years.

The Asia-Pacific region to maintain its lead position during the forecast period.

On the basis of the region, Asia-Pacific dominated the market in 2023 and is expected to dominate the market during the forecast period. Asia-Pacific has been known for its diverse culture and attractive destinations. China, Japan, Australia, and India have the highest outbound trip concentration among the higher household income brackets. Based on the household income, households earning above $10,000 account for more than 73% of all outbound travel. This can be attributed to the rapidly growing economy and new job opportunities promoting an increase in household income in the Asia-Pacific region.

Inquiry Before Buying @ https://www.alliedmarketresearch.com/purchase-enquiry/A06364 

Leading Market Players: -

  • 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
  • Small World Journeys Pty Ltd.

The report provides a detailed analysis of these key players in the ecotourism market. These players have adopted different strategies such as acquisition, partnerships, and new product launches to increase their market share and maintain dominant shares in the market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Related Reports:

Business Travel Market https://www.alliedmarketresearch.com/business-travel-market 

Travel Accommodation Market https://www.alliedmarketresearch.com/travel-accommodation-market 

Sports Tourism Market https://alliedmarketresearch.com/sports-tourism-market-A13076 

Enotourism Market https://www.alliedmarketresearch.com/enotourism-market-A13687 

Personalized Travel and Experiences Market
https://www.alliedmarketresearch.com/personalized-travel-and-experiences-market-A12540
 

Luxury Travel Market https://www.alliedmarketresearch.com/luxury-travel-market 

Sustainable Tourism Market https://www.alliedmarketresearch.com/sustainable-tourism-market-A06549 

Culinary Tourism Market https://www.alliedmarketresearch.com/culinary-tourism-market-A06326 

Adventure Tourism Market https://www.alliedmarketresearch.com/adventure-tourism-market 

 Tourism Source Market https://www.alliedmarketresearch.com/tourism-source-market-A06442 

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
1209 Orange Street,
 Corporation Trust Center,
 Wilmington, New Castle,
 Delaware 19801 USA.
 Int'l: +1-503-894-6022
 Toll Free: +1-800-792-5285
 Fax: +1-800-792-5285
 help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Follow Us on | Facebook | LinkedIn | YouTube |

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg

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