PUBLISHER: SkyQuest | PRODUCT CODE: 1461611
PUBLISHER: SkyQuest | PRODUCT CODE: 1461611
Global safari tourism market size was valued at USD 26.45 billion in 2022 and is poised to grow from USD 28.49 billion in 2023 to USD 51.57 billion by 2031, growing at a CAGR of 7.70% during the forecast period (2024-2031).
Safari tourism is experiencing a surge in popularity, largely propelled by the burgeoning interest of bloggers and influencers in this form of travel. With sizable followings on social media platforms, these influencers share their safari adventures online, stimulating the expansion of safari tourism. The increasing preference among people for distinctive and exotic holiday experiences, coupled with the rising expenditure levels of the middle and upper-middle classes and the profound impact of social media on the travel sector, are key driving forces behind this growth. Despite the growing demand, several factors such as the high costs associated with safari tourism, infrastructure challenges, and security concerns serve as constraints on market expansion. Nevertheless, with travelers continuously seeking out novel and captivating destinations, opportunities for growth in safari tourism persist. Among safari experiences, African safaris reign supreme as the most sought-after and desirable holiday option on the continent, attracting individuals eager to witness the natural habitats of a diverse array of wild animals, including lions, elephants, rhinos, giraffes, zebras, leopards, and more. Emerging entrants in the market are offering tailored safari experiences that cater to tourists' interests in indigenous cultures. Furthermore, the pervasive influence of social media continues to fuel market growth, as bloggers and influencers regularly share captivating visuals and engaging content across various social platforms to foster increased interest and engagement. Popular destinations for safari tourism include countries such as Thailand, India, Nepal, China, South Africa, Kenya, Botswana, Tanzania, and Brazil, drawing visitors from diverse corners of the globe. Within Europe, the United Kingdom, Germany, and France stand as primary sources of safari tourists, closely followed by Spain, Italy, and the Netherlands.
Top-down and bottom-up approaches were used to estimate and validate the size of the global safari tourism market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Safari Tourism Market Segmental Analysis
The global safari tourism market is segmented based on type, bookings mode, and region. By type, the market is segmented into couples, and friends. By booking mode, the market is segmented into direct bookings, and marketplace bookings. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Drivers of the Global Safari Tourism Market
The escalating desire among travelers for distinctive and genuine experiences plays a pivotal role in propelling the global safari tourism market forward. Safari tourism presents an avenue for tourists to observe wildlife in its natural surroundings and delve into the rich tapestry of culture and traditions prevalent in the destinations they explore. Furthermore, the burgeoning middle and upper-middle-class demographic, characterized by increased disposable income and a penchant for travel expenditure, further fuels the market's growth trajectory. With a growing number of individuals yearning for immersive journeys, the demand for safari tourism is poised to continue its upward trajectory in the foreseeable future.
Restraints in the Global Safari Tourism Market
A notable constraint on the global safari tourism market is the substantial expense associated with safari tours, which narrows the potential customer base. Safari expeditions often come with a hefty price tag attributed to various factors, including transportation, lodging, and permits. Moreover, infrastructure challenges prevalent in certain regions, such as inadequate road networks and limited accommodation choices, pose obstacles to market expansion. Additionally, safety apprehensions, ranging from wildlife encounters to political instability in select areas, may dissuade prospective tourists from embarking on safari adventures, thereby impeding the market's growth trajectory.
Market Trends of the Global Safari Tourism Market
A prominent trend in the global safari tourism industry is the rising preference for sustainable and responsible tourism practices. Travelers are becoming more conscious of the environmental repercussions of tourism and are actively seeking experiences that prioritize conservation and benefit local communities. Consequently, businesses within the market are directing investments toward eco-friendly accommodations, implementing wildlife conservation strategies, and supporting local conservation projects. Furthermore, numerous tour operators are pivoting towards experiential travel offerings, such as cultural immersion and community-based tourism, to provide travelers with more meaningful and authentic experiences. This shift reflects a growing consumer demand for tourism experiences that align with their values of sustainability and responsible stewardship of natural and cultural resources.