Agritourism Market: Favorable Government Funding Schemes for Sustainable Rural Development and Economic Sustenance Propels Growth
Fast changing living standards, major development endeavors concerning socio-cultural advances across rural and sub-urban regions has initiated new prospects in rural economic development. Additionally, as millennial population tends to divert escalated investments towards tourism and associated activities, tourism is estranging from previous travelling options such as exotic locale visits and plush hotel stays to a more sustainable, more personalized tourism treat allowing tourists to engage in farm fresh local cuisines, hand-on experiences in farm activities, as well as local stays.
The value of the Agritourism market is projected to grow to USD 141 billion with an estimated CAGR of 13.4% by 2030
Developed economies such as Europe and the Americas have long been investing in developing rewarding agritourism programs to empower sustainable tourism. For maximum profit making, agritourism across villages to ensure sustainable returms has spurred massive progress globally. Researchers and enthusiasts of agritourism opine that agritourism is a dependable income source for low and mid income strata who incur substantial incentives for frequent tourist footfall.
Urban Dwellers’ Quest for Pure Unadulterated Rural Stays to Boost Agritourism Practices
Sustainable development and new age tourism have paved way for agritourism worldwide. Several countries such as Poland have linked agritourism with rural tourism encompassing a range of activities such as practicing diverse farming and agricultural work within farms. Several studies interlink tourism and farm based activities that redefine agritourism. Guests are provided with requisite farm stays to partake in diverse farming activities. Therefore it is an ideal micro enterprise structure that is guided to offer high quality tourist products and services by means of leisure activities across farms.
Agritourism in essence is a type of tourist activity that allows travelers to travel across rural areas with long stays across estates and farms in a way to offer tangible infrastructure development scope and improved quality of life amongst rural population. In contemporary times, city dwellers increasingly invest in agritourism as a preferred vacation means to combat massive pollution levels in urban areas, thereby ening needs for detox regime for reinforced wellbeing.
Several high end studies and R&D initiatives are underway to assess the potential of agritourism across a host of agrarian countries. A recent study evaluated the potential of agritourism in Uzbekistan and neighboring areas in order to understand the scope of development in the region in terms of income generation, preservation of cultural and national values as well as environmental sustenance. Agritourism is expected to contribute substantially towards rural economy development. The study further recognizes massive progress in Italian agritourism advances backed by its exotic rural landscapes, palatable cuisines and the like that set the course for tangible progress in global agritourism market growth.
Developed Economies such as Europe Witness Major Funding Aid for Rural Tourism Developments
Regions such as Europe are experiencing notable advances in agritourism to offset deficit rural activities resulting from reduced interests in agriculture based economic activities. Besides pressing needs for alternative revenue generation, agritourism is also emerging as a logical solution to sustain environmental balance and rural landscapes for retaining ecological balance. Besides a close-to Nature experiences, improved services by farm owners and special discounted offers are poised to further retain confidence in global agritourism space. Besides tourist interests in agritourism, several federal government initiatives to propel rural tourism is a major leap forward ensuring cascading growth ratios in global agritourism market.
In a recent development towards agritourism in Ireland, government has announced its novel funding scheme worth 16.3 million pounds advanced rural tourism initiatives. The development is a massive step ahead towards rekindling agritourism across rural communities and belts in Ireland. This development is likely to further escalate growth opportunities in global agritourism market in the forthcoming years.
Government Deals and Top Notch Tourism Conferences to Uptick Agritourism in the Americas
Venture capitalists, stakeholders and several frontline players in agritourism are taking renewed interests in diversifying the facets of agritourism across regions. Several to notch meetings and conferences are underway to identify untapped opportunities in the space. In this light, Virginia Agritourism Conference is likely to pave new opportunities for entrepreneurs in exploring novel possibilities in Virginia agritourism which is estimated to reckon a whopping $2.2 billion. International meetings as such are expected to gain clarity in identifying opportunities as well as potential risks and barriers in agritourism.
Further in terms of rife initiatives in agritourism, The Inter-American Institute for Cooperation on Agriculture (IICA) has recently undersigned a collaboration agreement with United Nations World Tourism Organization to pursue advances in agritourism in America. The two organizations are aimed at propelling advances in capacity diversification, skill improvisation and the like to ensure superlative tourist experience in local settings. Agriculture milestones and integrated tourism are likely to bolster multilayered growth potential and sustenance in agritourism market in the Americas.
Besides notable strides in agritourism across developed economies, several mid and low income countries across Asia and Africa are also diversifying their scope and capabilities. In a recent development in Africa, Uganda has banked upon agritourism to multiply tourist visits in the region. Uganda safari tour travels will henceforth include pineapple farming as an inclusive tourism activity allowing tourists to actively participate in pineapple farming practices. The development is likely to coin substantial progress in global agritourism market in the forthcoming years.
Additionally, in India which is a potent agrarian economy is planning big in terms of agritourism. According to tourism minister, agritourism will be developed across global, regional and national levels. Tourism facilities will be developed to encourage greater tourist arrivals across the regions of Narsapuram and Konaseema to encourage agritourism in a bid to ensure additional job generation and livelihood in the region besides encouraging sustainable ecological returns. Renewed interests from academicians and tourist enthusiasts as well as hospitality students are expected to encourage agritourism in Scotland by interlinking holiday planning as well as farm hosts. These ongoing developments are estimated to bear sustainable returns in global agritourism market in the coming years.
Key Market Movements
- Shifting millennial preferences for economic and sustainable tourism experience to bolster opportunities
- Developed as well as developing economies are traversing that extra mile to develop unique packages between tour planners and agricultural stakeholders
- Favorable government protocols and funding schemes to keep growth momentum agile
- Hospitality enthusiasts to augment NGO intervention in order to popularize agricultural tours as well as hand on farming experiences
Key Study Deliverables
• Market valuation in terms of value and volume of the global agritourism market through the forecast span, 2019-25
• Comprehensive market evaluation across major regions based on market segmentation
• A thorough rundown on market dynamics such as drivers, threats, challenges, opportunities
• A clear analytical review of competition spectrum, highlighting industry forerunners, company as well as product portfolios
Major highlights on winning marketing strategies adopted by leading players
- Bay Farm Tours
- Domiruth PeruTravel
- Kansas Agritourism
- AGRILYS Voyages
- Agriturismo Al Verneto
|Forecast Unit||Value (USD)|
|Revenue forecast in 2030||USD 141 billion|
|Growth Rate||CAGR of 13.4% during 2020-2030|
|Segment Covered||By Activity, By Sales Channel, Region.|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Agricultural Tour Operators International, Farm to Farm Tours, Agrilys Voyages, Bay Farm Tours, Greenmount Travel, Blackberry Farm, LLC, Harvest Travel International, Field Farm Tours Limited, Select Holidays, Sita Group|
Regional Overview, (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America