Eco-Conscious Travelers Drive Sustainable Tourism to $1 Trillion Mark

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The sustainable tourism market to register a year-on-year growth rate of 33.3% in 2022. As per the FMI analysis, the sustainable tourism market size will surpass US$ 1.0 Trillion in 2022. Between 2022 and 2032, the market is expected to exhibit compound annual growth rate (CAGR) of?

 

Sustainable tourism is the type of tourism that establishes an appropriate stability among the environmental, economic and socio-cultural features of the travel industry; it plays a vital role in preserving biodiversity. The primary objective of sustainable tourism is to reduce the negative impact of tourism on surroundings and local culture so that it will be offered for future generations, while funding to generate income, occupation, and the preservation of local ecologies.

Sustainability in tourism is an ethical practice in tourism similar to responsible tourism and ecotourism. Sustainable tourism has been in practice since 1992. Sustainable tourism is all about efficient technology, cleaner production, environmental protection and communal engagement. Sustainability is well-known amongst travel lodging amenities mainly trailed by tour agents as well as new destinations.

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Sustainable Tourism: Drivers and Opportunity Areas

Largely, a sense of accountability towards the environment with an addition to the socioeconomic wellbeing of local societies amongst tourism operators is fuelling the demand for sustainable tourism all over the globe.

The other drivers that trigger the need and requirement of the sustainable tourism segment include growing awareness towards securing the natural and traditional habitat of the destination concerned as well as a shift in the mindset of many travellers from traditional travelling concerns such as price, brand, quality, and convenience towards social, cultural and environmental issues that are significant to the places they holiday.

Sustainable tourism is still an emerging concept and many regions are not aware of this type of tourism; hence enormous opportunities including covering many untapped areas and the fusion of sustainable tourism with ethno-tourism and eco-tourism are coming up as possible opportunity areas for sustainable tourism in the global tourism industry.

Key Manufacturing Companies:

  • Bouteco
  • Kind Traveler
  • Responsible Travel
  • Wild Frontiers Adventures Travel
  • Wilderness Holding Limited
  • Beyonder Experiences
  • Undiscovered Mountains
  • Gondwana Ecotours
  • Row Adventures
  • Natural Habitat Adventures
  • Cheeseman’s Ecological Safaris
  • Sustainable Travel International
  • NATIVE TOURS, INC.

Sustainable Tourism: Restraints

However, there are certain factors that are hindering the growth of the sustainable tourism segment such as a limited audience or travellers as this concept of tourism is not very comfortable and luxurious to most travellers. Another restraint is less awareness among global tourists about sustainable tourism, as some travellers prefer highly comfortable and luxurious vacations and look for such options only.

Many tourists do not find this concept relevant, and changing their mind-set in favour of sustainable tourism is another challenge for the sustainable tourism segment.

Market by Category

By Type (% of Demand), Sustainable Tourism Market is segmented as:

  • Ecological Tourism
  • Eco Tourism/ Green Tourism
  • Soft Tourism
  • Community Tourism

By Booking Channel (% of Demand), Sustainable Tourism Market is segmented as:

  • Phone Booking
  • Online Booking
  • In Person Booking

By Consumer Orientation (% of Demand), Sustainable Tourism Market is segmented as:

  • Men
  • Women

By Tourism Type (% of Demand), Sustainable Tourism Market is segmented as:

  • Domestic
  • International

By Tourist Type (% of Demand), Sustainable Tourism Market is segmented as:

  • Independent Traveler
  • Tour Group
  • Package Traveler

By Age Group (% of Demand), Sustainable Tourism Market is segmented as:

  • 15-25 Years
  • 26-35 Years
  • 36-45 Years
  • 46-55 Years
  • 66-75 Years
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