Ecotourism Market: Current Analysis and Forecast (2021-2027)

Global Ecotourism is Expected to Display an Elevated CAGR over the forecast period (2021-2027)

The emerging tour and travel industry across the globe owing to the rising number of solo travelers, rising disposable income, etc., is contributing to the growth of the ecotourism market. As per World Travel and Tourism Council, the Asia-Pacific tour and travel industry contributed around 9.8 to the GDP in 2021 worth USD 3,294.3 Bn. Moreover, the government's plan for ecotourism is acting as a growth catalyst for the industry. For instance: In 2020, Malaysia launched a 10-year plan to focus on ecotourism and prepare for future disasters, and restart its battered tourism sector, which is estimated to have lost more than 100 billion ringgit ($24.61 billion) this year due to the coronavirus pandemic. Moreover in 2022, the environment ministry in India releases a list of 90 potential eco-tourism sites. Furthermore, ecotourism is becoming a favored choice for Chinese people, as they now prefer to visit places that have thick forests and plentiful vegetation as well as being rich in negative ions. The department of ecology and environment in east China's Zhejiang province unveiled an "ecotourism map", which consists of 21 ecotourism sites, to meet people's growing demand for diversified ecotourism products.

Furthermore, Ecotourism is becoming a favored choice for Chinese people, as they now prefer to visit places that have thick forests and plentiful vegetation as well as being rich in negative ions. China has become one of the most popular travel destinations in the world. The UNWTO World Tourism Rankings rank China as the third most visited country in the world. In 2015, China draws in a crowd of 55.6 million international visitors staying overnight on the mainland. These visitors are mostly coming to China for sightseeing and leisure activities. The Chinese Ministry of Environmental Protection or the MEP stated that 2,541 nature reserves are covering 147 million hectares or 14.7% of China. 80% of these reserves have some form of ecotourism. With its rich natural landscape and features, China has beautiful natural scenery tourists are thirsty for.Adventure Alternative Ltd, Arcari Travel, Frosch International Travel, Inc, G Adventures, Intrepid Group Limited, Rickshaw Travel Group, Small World Journeys Pty Ltd, Steppes Travel Ltd, Travel Leaders Group, Llc, Undiscovered Mountains Ltd, etc., are some of the prominent players operating in the Ecotourism market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with innovative products.

Insights Presented in the Report

"Amongst traveler type, group segment to grab major market share"

Based on the traveler type, the market is fragmented into solo and group. The group segment grabbed the major market share and dominated the market in 2020. An emerging number of tour and travels company across the globe is leading to the growth of the solo segment. As per the Indian ministry of tourism, there were 902 tour operators in the country. The solo traveler segment is poised to grow with a higher CAGR during the forecast period. There has been a significant increase in people who want to travel solo, and this has encouraged travel companies as well as travel agents to provide facilities not only for group travelers but also for people who travel alone.

"Amongst age group, Generation Y segment dominated the market in 2020"

Based on the age group, the market is fragmented into Generation X, Generation Y and Generation Z. Generation Y segment grabbed the dominating market share in 2020. As per the Ministry of Foreign Affair, Generation Y or millennial travelers offer a huge market, which already accounts for approximately 40% of all travel expenditure in Europe. However, Gen Z is expected to witness a higher CAGR in the forthcoming years.

"Amongst sales channel, travel agent segment to dominate the market in forthcoming years"

Based on the sales channel, the market is fragmented into travel agents and direct. The travel agents segment grabbed the dominating market share in 2020. As per the Bureau of Labor Statistics, there were 37,190 travel agents in the United States as of May 2021. The merging number of travel agents across the globe is leading to the growing share of this segment

"Asia Pacific represents one of the largest markets of Ecotourism market"

For a better understanding of the market adoption of the ecotourism market, the market is analyzed based on its worldwide presence in the countries such as North America (the United States and Canada), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia-Pacific region grabbed major market for the ecotourism market industry. However, the North America region would witness a considerable CAGR during the forthcoming years.

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• The study includes market sizing and forecasting analysis validated by authenticated key industry experts

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• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry

• The study comprehensively covers the market across different segments

• Deep dive regional level analysis of the industry

Customization Options:

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