Market Analysis and Insights:
At a projected CAGR of 15.2%, the Global Ecotourism Market is anticipated to grow from an estimated size of USD 22.45 billion in 2023 to USD 90.93 billion by 2033.
Increasing global warming awareness and visitor damage of natural beauty are the key drivers of the Ecotourism Market’s expansion. Tourist curiosity about tropical ecology, botanical research, primates ecology, and past civilizations archaeology has supported the global Ecotourism Market’s expansion.
Ecotourism Market Scope :
Metrics | Details |
Base Year | 2023 |
Historic Data | 2018-2022 |
Forecast Period | 2024-2033 |
Study Period | 2018-2033 |
Forecast Unit | Value (USD) |
Revenue forecast in 2033 | USD 90.93 billion |
Growth Rate | CAGR of 15.2% during 2023-2033 |
Segment Covered | By Activity Type ,By Group ,by Region. |
Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
Key Players Profiled | Blow Molding Adventure Alternative Ltd., Aracari Travel, BCD Travel, Expedia Group Inc., FROSCH International Travel Inc., G Adventures, Intrepid Travel, Lindblad Expeditions, Natural Habitat Adventures, TUI Group, World Expeditions, Airbnb, Marriott International, The International Ecotourism Society. |
Market Definition:
Ecotourism is a type of tourism that focuses on ethical travel to natural places, environmental conservation, and enhancing local people’s well-being.
It is a sort of sustainable tourism in which the negative effects of tourism are minimized while the positive advantages are maximized. Hiking, camping, birdwatching, animal safaris, and touring national parks and other protected areas are all examples of ecotourism activities. Ecotourists often want to learn about the natural setting and the cultures of the people who live in it. They are also dedicated to travelling in a way that is environmentally and socially responsible.
Key Market Segmentation:
Insights based on Activity Type:
The land ecotourism Segment is predicted to control the bulk of the worldwide
By 2022, the land ecotourism category would have dominated the worldwide ecotourism business, accounting for almost 70% of total revenue. This is because terrestrial ecotourism activities are more readily available and cost-effective than marine ecotourism activities. Furthermore, a broader range of land ecotourism activities, including camping, hiking, wildlife viewing, and cultural tourism, are available.
In the next years, the marine ecotourism segment is predicted to increase faster than the terrestrial ecotourism segment. This is because people are becoming more aware of the need For marine conservation and are becoming more interested in marine life and undersea activities
Insights based on Group:
The group category is expected to contribute to the majority of the market share. The group sector dominates the worldwide ecotourism market by group segment, with a share of revenue of more than 81% in 2022. This is because of a variety of variables, Group travel has several advantages, including lower expenses, shared experiences, and the ability to travel with friends and family.
People can now identify and connect with other tourists who share their interests, including ecotourism, thanks to social media. This has resulted in the formation of several ecotourism travel organizations.
The solo ecotourism market is expanding as well, though at a slower rate than the group segment. This is because of a variety of variables, including Single supplements for lodgings and activities that are frequently required for solo visitors. However, there are other ways to save money when travelling alone, like living in hostels or guesthouses and opting for group trips. Travelling alone may expose you to greater theft and other risks than travelling in a group.
However, there are several strategies to avoid these hazards, including conducting research, selecting safe destinations, and remaining cognizant of your surroundings.
Insights based on Age Group:
The Generation Y segment dominates the worldwide Ecotourism market.
The largest cohort, Generation Y, commonly known as millennials, accounts for more than 40% of the global ecotourism industry. Generation X is the second most populous generation, followed by Generation Z.
Millennials are the generation most likely to participate in ecotourism. They are better educated than earlier generations and have a greater disposable cash. They focus more on the environment and societal duty. Millennials are looking for authentic and sustainable travel experiences. Generation X is also a significant market segment in the ecotourism industry. This generation has more travel experience and more disposable income than Generation Z. They are additionally looking for real and sustainable vacation experiences. Generation Z is the youngest generation of travellers, and it is quickly expanding. This generation is more ecologically sensitive and technologically competent than earlier generations. They are seeking one-of-a-kind and sustainable vacation experiences.
Insights on Regional Analysis:
North America Region to Provide Numerous Financing Opportunities.
North America has the world’s largest ecotourism market, accounting for more than 35% of the worldwide market in 2022. There are numerous ecotourism destinations in the region, including national parks, forests, and animal habitats. Yellowstone National Park, Yosemite National Park, the Grand Canyon National Park, and the Canadian Rockies are among the most popular ecotourism locations in North America.
Europe is the world’s second-largest ecotourism market, accounting for more than 25% of the global market in 2022. The Alps, the Mediterranean Sea, and the Scandinavian countries are among the world’s most famous ecotourism locations. The Swiss Alps, Norwegian fjords, and Scottish Highlands are among Europe’s most popular ecotourism attractions. Asia Pacific is the world’s third-largest ecotourism market, accounting for more than 20% of the worldwide market in 2022. There are numerous ecotourism destinations in the region, including tropical rainforests, beaches, and mountains. The Amazon rainforest, the Great Barrier Reef, and the Himalayas are among the most popular ecotourism locations in Asia Pacific. The Middle East and Africa are the world’s fourth-largest ecotourism markets, accounting for more than 15% of the worldwide market in 2022
Company Profiles:
The Ecotourism Market is a dynamic and competitive one. The leading companies are always inventing and releasing new products. New competitors are also joining the market from emerging economies.
Major players in the global Blow Molding Adventure Alternative Ltd., Aracari Travel, BCD Travel, Expedia Group Inc., FROSCH International Travel Inc., G Adventures, Intrepid Travel, Lindblad Expeditions, Natural Habitat Adventures, TUI Group, World Expeditions, Airbnb, Marriott International, The International Ecotourism Society. To enhance their market share, these corporations are actively investing in developing novel products, and promotional activities, and extending their distribution networks. These firms provide a diverse range of ecotourism activities, including safaris and animal tours, as well as nature walks and cultural interactions. They operate all around the world and cater to a wide range of budgets and interests.
COVID-19 Impact and Market Status:
The COVID-19 pandemic had a major influence on the global Ecotourism business.
The COVID-19 pandemic had a significant influence on the worldwide ecotourism market in 2020, with international visitor arrivals falling by 74% compared to the previous year. This was owing to travel restrictions, border closures, and quarantines imposed by governments around the world to control the virus’s spread. Ecotourism has had an enormous impact on local economies in many nations, as it is a key source of employment and money for local populations. Ecotourism, for example, makes for more than 6% of Costa Rica’s GDP and employs over 300,000 people.
Despite the pandemic’s hurdles, the ecotourism market is projected to recover in the next years.
Latest Trends and Innovation:
• In 2023, G Adventures, a Canadian travel operator, will offer a new range of carbon-neutral excursions. These tours reduce their carbon footprint by putting money into renewable energy projects and other climate-related efforts.
• The World Wildlife Fund has teamed with Australian tour operator Intrepid Travel to develop a new ecotourism destination in the Amazon rainforest. The destination allows visitors to experience the rainforest sustainably while also supporting local communities.
• Natural Habitat Adventures, a tour operator based in the United States, has launched a new line of ecotours centred on wildlife conservation. These excursions take visitors to observe threatened species in their native habitats while also raising funds for conservation efforts.
Significant Growth Factors:
The following are important growth factors for the Ecotourism Market
Busy people are increasingly searching for quick and easy dinner options. Ecotourism provides a diverse range of options that may be made quickly and conveniently without losing flavour or quality. Customers continue to spend greater amounts on packaged and convenience items, notably Ecotourisms, as their disposable incomes rise. Ecotourisms are frequently viewed as healthier than packaged goods since they contain fewer flavourings and preservatives. Frozen fruits and vegetables, in particular, are an easy and inexpensive approach to enhance fruit and vegetable consumption. Frozen meals are currently widely available in a variety of retail places, including grocery shops, hypermarkets, convenience stores, and online merchants. This has simplified the process of finding and purchasing frozen goods for consumers. Governments all across the world are recognizing the positive effects of ecotourism and encouraging responsible tourism practices. This is accomplished through measures such as tax benefits for ecotourism enterprises and the creation of ecotourism standards and accreditation programs. Travelers may now discover about and book ecotourism activities more easily thanks to technological improvements. Online travel agencies, for example, now provide a variety of ecotourism packages, and social media platforms are assisting in the promotion of ecotourism places and experiences.
Restraining Factors:
The market for Ecotourism is expanding quickly, but there are several impediments to its expansion.
Some tourism businesses make misleading claims about being environmentally responsible or participate in actions that hurt the environment and local populations. This can damage guests’ belief in ecotourism and make it harder for them to recognize authentic ecotourism experiences. There is currently no globally recognized description or certification for ecotourism. This can make it difficult for tourists to judge the sustainability of various tourism products and services, as well as for ecotourism companies to distinguish themselves from mass tourism operators. Many ecotourism attractions are in rural, impoverished areas with inadequate infrastructure. This can make getting to these sites challenging and costly for tourists, and it can also limit the type of ecotourism activities accessible. Ecotourism operators frequently experience difficulties in obtaining finance and resources. This might make developing and maintaining high-quality ecotourism products and services difficult. Ecotourism providers in some destinations encounter regulatory issues such as cumbersome permitting processes and expensive taxes. This might make starting and running an ecotourism business tough.
Despite these challenges, the ecotourism market is expected to continue to grow in the coming years. This is due to several factors, including increasing consumer awareness of sustainability issues, growing demand for authentic and immersive travel experiences, and government support for ecotourism development.