Global Ecotourism Market Size To Grow At A CAGR Of 9% In The Forecast Period Of 2023-2028
SHERIDAN, WYOMING, USA, December 14, 2022 /EINPresswire.com/ — The ‘Global Ecotourism Market Share, Size, Trend, Growth, Analysis, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global ecotourism market, assessing the market on the basis of its segments like traveller types, age groups, sales channels, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Ecotourism Market Share, Size, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 9%
The increasing travel enthusiasm, growing inclination of working adults towards recreational activities, and increasing awareness about environmental conservation are driving the growth of the market for ecotourism. Irresponsible tourism can cause soil erosion, and air pollution, and can inflict damage to plants and wildlife. Hence, governments across developed and developing economies are taking appropriate measures to bolster the safety of jungles, wildlife sanctuaries, and monuments, among others, leading to a heightened growth of the global ecotourism market.
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Ecotourism is a great source of economic development which improves the living standards of the local people. In addition, it offers enhanced natural experiences to tourists which further increases the number of national explorers by protecting endangered species and reducing pollution.
Over the forecast period, the increasing awareness pertaining to the natural beauty of countries such as New Zealand, Tanzania, and Costa Rica, among others, is expanding the market scope. In New Zealand, footfall in wildlife reserves, natural caves, and volcanic landscapes is increasing significantly.
The global ecotourism market is further being bolstered by the growing popularity of local heritage tourism, volcano tourism, cold water tourism, and bird-watching tourism, among solo travellers. Furthermore, a significant portion of tourists is inclined towards leaving a positive impact on nature while travelling which is another key market driving factor.
Ecotourism Industry Definition and Major Segments
Ecotourism, also known as responsible tourism, is defined as a type of tourism which ensures the safety of natural areas as well as the well-being of plants, animals, and local tribes. Through ecotourism, tourists and tourism professionals are educated about environmental conservation. Moreover, ecotourism ensures no interference in natural ecosystems which is a crucial driving factor of the global ecotourism market.
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Based on traveller type, the market is segmented into:
On the basis of age group, the market is classified into:
• Generation X
• Generation Y
• Generation Z
By sales channel, the market is divided into:
• Travel Agent
On the basis of region, the market is categorised into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Ecotourism Market Trends
The key trends in the global ecotourism market include the increasing flexibility and ease of access to ecotourism facilities owing to the emergence of dedicated mobile applications and websites. Bookings for eco-tourism nowadays can be done within a few minutes. In addition, cheap flights and greater guidance about routes, owing to advanced technologies such as GPS, are further aiding the market.
The lack of travel fulfilment and satisfaction in traditional tourism felt by many travellers is another crucial market-driving trend, leading to an increasing inclination towards educational tourism. Many tourists in the modern era prefer more challenging travel journeys with greater opportunities for wildlife exploration.
The stringent regulations by governments aiming towards improving the quality of living of the local population are further propelling the growth of the ecotourism market. Moreover, the increasing cases of poaching, illegal hunting, and trafficking of innocent animals have induced high sentiments among the population which is in turn providing impetus to the market.
In geographical terms, Europe accounts for a decent share of the market. Greater awareness among the inter-country tourists travelling to naturally beautiful countries like Germany and France is boosting the ecotourism infrastructure in the region. Furthermore, the strong foothold of travel and hiking companies across Europe is expected to improve the accessibility of ecotourism in the forecast period.
Key Market Players
The major players in the ecotourism market report include:
Frosch International Travel
Rickshaw Travel Group
Small World Journeys
Adventure Alternative Ltd
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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