Consumer Goods & Retail

Global Ecotourism Market

September 10, 2021
ID: SR/CG-82
Format:Pdf
Pages:220

Global Ecotourism Market By Traveler Type (Solo, Group), By Age Group (Generation X, Generation Y, Generation Z), By Sales Channel (Travel Agents, Direct), and By Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa)-Global Forecast to 2027.

Description

Ecotourism market Overview

The ecotourism market size was valued at USD 181.1 Billion in 2019 and projected to reach USD 333.8 Billion by 2027, growing at a CAGR of 14.3% during the forecast period, 2019-2027.

Growing environmental awareness and increasing interest of travelers in ethnobotany, tropical ecology, archaeology of ancient civilization, and primate ecology across the globe 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, 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 availability of accommodation, 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 accommodation and growing environmental consciousness had 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 the everyday activities of people. As coronavirus crises took over the world and led to curfews and lockdown, which impacted many businesses worldwide, countries across the globe are trying to prevent further contagion by adopting various measures such as social distancing, testing, etc. quarantine. With work from home and remote working, the tourism industry was struggling due to the travel restriction across the world to prevent the pandemic spread.

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 period. Governments also have been offering financial support to the tourism sector and implementing structural transformation. Therefore, with the outbreak of the COVID-19, 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 a solo traveler and group traveler.

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 owing to travel companies providing facilities not only for the group but also for people traveling solo.

Age Group Segmental Analysis

The ecotourism market is categorized into generation X, generation Y, and generation Z based on the age group.

The generation Y segment held a significant market share in 2019. However, generation Z is expected to grow and will gain maximum market revenue by 2027. 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 will not get duped. 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 2020-2026. It 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 2027, owing to a large number of 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

Table Of Contents

Methodology

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Frequently Asked Questions (FAQ):

What is ecotourism?

Ecotourism is a traveling form to 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.

What is the growth rate of the ecotourism market?

The ecotourism market size was valued at USD 181.1 Billion in 2019 and projected to reach USD 333.8 Billion by 2027, growing at a CAGR of 14.3% during the forecast period, 2019-2027.

Who are the key driving factors for the global ecotourism market?

The ecotourism market is expected to grow significantly due to increasing environmental awareness among travelers and the increasing availability of eco-friendly tourist accommodation across the globe.

What region has the largest share in the ecotourism market?

North America is highly lucrative in the global ecotourism market due to travelers’ growing environmental consciousness and increasing usage of digital media in the region.

Who are the key players in the ecotourism market?

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.

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Global Ecotourism Market