Global Ecotourism Market

Ecotourism market Overview

The ecotourism market size is estimated to reach USD 589.8 Billion by 2030, growing at a CAGR of 14.3% during the forecast period, 2022-2030 and it was valued at USD 161.1 Billion in 2022. Growing environmental awareness and increasing interest of travelers in ethnobotany, tropical ecology, archaeology of ancient civilization, and primate ecology globally positively impact the ecotourism market growth. Moreover, the increasing availability of eco-friendly tourist accommodation has made a path for developing the ecotourism market in the upcoming years. Additionally, factors such as growing awareness among tourists regarding global warming and tourist devastation of natural beauty are anticipated to drive the global growth of the ecotourism market. What is Ecotourism? Ecotourism is a traveling form to natural regions that protect the environment and support local people’s well-being. This type of tourism comes under sustainable tourism, which aims to minimize the negative impact on the natural ecosystem. Ecotourism allows travelers to gain an understanding of the environment and immerse themselves in other people’s cultures. The main aim of ecotourism is to educate the traveler, assist economic development, and raise funding for environmental conservation. Growth Driver Increase in travel and tourism in the global tourism industry The ecotourism market is projected to grow in the forecast period because of the rise in travel and tourism to unique destinations, customer inclination towards exploring wildlife and coral reefs, and rising infrastructural development. However, the major factors restraining the growth of the global ecotourism market are the limited availability of hygienic restaurants, low accommodation availability, and inadequate support infrastructure at ecotourism destinations. Pre Covid-19 impact Factors such as the rise in travel and tourism to unique destinations and increased focus of travelers in ethnobotany, tropical ecology, archaeology of ancient civilization, and primate ecology stimulate the ecotourism market growth. Additionally, the increasing availability of eco-friendly tourist accommodations and growing environmental consciousness created several opportunities for ecotourism in the pre-COVID era. Covid-19 impact COVID-19 is a global public health disease that has brought serious social, medical, and economic challenges in every industry. The spread of COVID-19 is generating an enormous disruption in people’s everyday activities. As coronavirus crises took over the world and led to curfews and lockdowns, which impacted many businesses worldwide, countries are trying to prevent further contagion by adopting various measures such as social distancing, testing, and quarantine. With working from home and remote working, the tourism industry struggled due to worldwide travel restrictions to prevent the pandemic. Post Covid-19 impact There will be significant growth in the tourism industry due to increased air travel across the globe after the COVID-19 pandemic. Globally, countries are building a stronger & flexible tourism system during the post-COVID-19 pandemic. Governments have also offered financial support to the tourism sector and implemented structural transformation. Therefore, with the outbreak of the COV9, the ecotourism market will grow significantly, which has positively impacted the ecotourism market value in 2020 and subsequent years. Traveler Type Segmental Analysis Based on the traveler type, the ecotourism market is segregated into solo and group travelers. The group traveler segment is estimated to have the highest market share in the traveler type for the ecotourism market due to an increase in the number of people who wish to travel in groups. However, the solo traveler segment is projected to grow with higher CAGR throughout the forecast period due to travel companies providing facilities for groups and people traveling solo. Age Group Segmental Analysis The ecotourism market is categorized into Generation X, Y, and Generation Z based on age group. The Generation Y segment held a significant market share in 2021. However, generation Z is expected to grow and gain maximum market revenue by 2030. This is due to a growing need to spend money on unique experiences rather than materialistic things and growing environmental awareness. Sales Channel Segmental Analysis Based on the sales channel, the ecotourism market is classified into travel agents and direct. The travel agents segment is projected to account for the largest market share of the ecotourism market since booking through a travel agent ensures that travelers stay caught up. They also provide compensation for trip cancellations & medical emergencies. Region Segmental Analysis The ecotourism market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is estimated to project considerable growth over 2022-2030. This is due to the growing environmental consciousness among travelers and the increasing usage of digital media in the region. The Asia Pacific will share the ecotourism market by 2030, owing to many millennial tourists and rising per capita disposable income. These are the factors driving the market growth for ecotourism in the region. Competitor Analysis Companies include Aracari Travels, Frosch International Travel, Adventure Alternative Ltd., Undiscovered Mountains Ltd, Steppas Discovery, Small World Journeys, Rickshaw Travel Group, Intrepid Group, Expedia Group, and JTB Americas Group are the key players in the ecotourism market.Key Stakeholders

• Market research and consulting firms
• Industry associations
• Local Governments
• Tourists
• Ecological Groups
• Research organizations and consulting companies
• Tourism Agencies
• NGOs
• Regulatory bodies

Scope of the Report

Report Attribute	Details
Market Size Value in 2020	USD 181.1 Billion
Revenue forecast in 2027	USD 333.8 Billion
Growth Rate	CAGR of 14.% from 2020 to 2027
Historical data	2017-2019
Forecast period	2021 – 2027
Region covered	America, Europe, Asia-Pacific, South America, and Middle East & Africa
Key companies Profiled	Aracari Travels, Frosch International Travel, Adventure Alternative Ltd., Undiscovered Mountains Ltd, Steppas Discovery, Small World Journeys, Rickshaw Travel Group, Intrepid Group, Expedia Group, JTB Americas Group.

Market Modelling

By Traveler Type

• Solo
• Group

By Age Group

• Generation X
• Generation Y
• Generation Z

By Sales Channel

• Travel Agents
• Direct

By Region

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

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