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ecotourism

Ecotourism Market Size Worth $385.01 Billion by 2028 at CAGR of 10.3%

According to The International Ecotourism Society (TIES), ecotourism can be defined as “responsible travel to natural areas that conserve the environment, sustains the well-being of the local people, and involves interpretation and education”.

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The global ecotourism market size is expected to reach USD 385.01 billion by 2028, according to a new report by Million Insights. It is expected to expand at a CAGR of 10.3% from 2021 to 2028. The increase in environmental protection awareness, attractive traveling packages, sustainable development, and affordable prices are the primary factors that propel the growth of the market.

Sustainable travel to natural areas conserves the environment. It provides economic benefit to the local host, wherein these factors positively create lucrative opportunities for the travel agents/key tourism operators across the world.

Ecotourism Market Report Highlights:

  • Central and South America is expected to register the second-fastest CAGR from 2021 to 2028 owing to the increasing environmental consciousness among tourists in Brazil and Argentina.
  • By type, wildlife ecotourism held the largest share of more than 33.0% in 2020. Nature ecotourism is expected to register the second-fastest CAGR from 2021 to 2028.
  • The Asia Pacific region dominated the market by accounting for over 35.0% share in 2020. The rise of social media to create awareness about ecotourism in developing economies, including China and India, has positively influenced the growth of the travel and tourism industry in the region.

Ecotourism Market Growth & Trends

Ecotourism involves traveling to remote and unique hotspots where the flora, fauna, and cultural heritage are the major attractions. Developing economies such as IndiaThailandthe PhilippinesEgyptMorocco, and Jordan have launched a campaign program to promote nature reserves, raise environmental awareness, and support sustainable travel.

The nature ecotourism type segment held over 25.0% share in 2020 in the Asia Pacific region. The urban population in the Asia Pacific region is growing exponentially. Hence, the need to travel to natural areas for relaxation and to reduce stress is inevitable. Nature attraction includes birdwatching, hiking, and reef diving; therefore, these activities tend to be more physically demanding, whereas typical tourism is less physical and more comfortable.

In 2020, the market for ecotourism was affected majorly due to the lockdown scenario triggered by the COVID-19 pandemic. Many organizations are not operating during the lockdown, which has resulted in significant losses to the travel and tourism sector due to worldwide restrictions and curfews.

Conserving natural resources and accommodating many tourists with minimal impact on nature and the environment remain the core objectives for the key stakeholders. These initiatives by major stakeholders are propelling the global demand for ecotourism.

Key Players of Ecotourism Market

  • Responsible Travel
  • &Beyond
  • Adventure Alternative
  • Intrepid travel
  • Kind Traveler
  • Aracari
  • Rickshaw Travel
  • Travel Leaders Group
  • FROSCH International Travel
  • Small World Journeys Pty Ltd.

 

 

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