Sustainable Tourism Market Analysis Europe, North America, APAC, South America, Middle East and Africa - US, France, Japan, Germany, Canada - Size and Forecast 2024-2028

Sustainable Tourism Market Size 2024-2028

The sustainable tourism market size is estimated to grow by USD 426.6 billion at a CAGR of 10.87% between 2023 to 2028. The adoption of sustainable tourism practices by major tourism companies, reflecting a growing environmental consciousness in the industry is a key factor shaping the growth. Additionally, there's a noticeable trend towards seeking local and authentic experiences among travelers, marking a shift away from traditional tourist attractions. Furthermore, the rising popularity of novel forms of tourism, such as ecotourism or cultural tourism, contributes significantly to market growth. Collectively, these factors underscore a changing landscape in the tourism sector, with an emphasis on sustainability, authenticity, and diversification of travel experiences. This evolution indicates promising growth prospects for the market as it aligns with evolving traveler preferences and industry standards.

What will the Size of the Market be During the Forecast Period?

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Market Dynamics and Customer Landscape

Sustainable tourism is a vital segment in the travel industry, driven by a strong focus on environmental preservation and CSR (Corporate Social Responsibility) initiatives. This approach extends to island destinations, catering to diverse preferences such as group tourism, family travel, and couples tourism, ensuring a harmonious coexistence with local ecosystems. Generation X and senior folks increasingly seek destinations with Green Key certifications and eco-certified buildings, reflecting a growing demand for sustainable accommodations. The integration of solar power and renewable energy solutions further reduces the environmental impact of tourism activities. Technological advancements like virtual reality and augmented reality enhance passengers' preferences, offering immersive experiences while promoting new forms of tourism rooted in sustainability. Major travel and tourist companies, alongside small and medium-sized enterprises, play a pivotal role in driving this shift towards Eco Tourism/Green Tourism and Community Tourism. Whether an independent or package traveler, platforms like ForwardKeys and initiatives from Invest India are paving the way for eco-friendly travel options and sustainable tourism practices, including certifications for environmental management and animal welfare.

Key Market Driver

The implementation of sustainable tourism practices by large tourism companies is the key factor driving the global ecotourism market growth. Many multinational hotels and large tourism companies are increasing their collaborative efforts to make their supply chains more sustainable. Sustainable tourism initiatives are expected to have a positive impact on the market due to the connections that multinational hotels and tourism companies and their suppliers have across different tourism-related industries.

Further, sustainable reporting has become a common practice among many large travel and tourism operators, which has helped such operators pay attention to reducing the environmental impact of their operations. Therefore, the implementation of  these practices by large travel and tourism operators is expected to boost the growth of the market during the forecast period.

Key Market Trend

The increase in the number of eco-conscious travelers will fuel the global ecotourism market growth. One of the main factors that encourage travelers to opt for these is the need to protect the environment and available natural resources, as they have become aware of the negative impacts of tourism on the environment.

Moreover, a significant number of domestic and international organizations, including UNESCO, GSTC, and UNWTO, are actively developing standards and providing guidance to tourism companies and destinations. These organizations conduct training programs such as the Sustainable Tourism Training Program; create accreditation schemes; organize conferences such as the Marrakech Task Force on Sustainable Tourism, the International Guidelines for Biological Diversity and Tourism Development, and the Quebec Declaration; and advocate these policies at different government levels. These initiatives are expected to be important factors for the growth of the market during the forecast period.

Key Market Challenge

The inability of developing countries to implement sustainable tourism policies is a major challenge to global ecotourism market growth. It is not very popular in developing countries. These countries cannot implement sustainable policies effectively, including conserving natural resources, safeguarding economic interests, and encouraging local heritage tours when governments change, or national budgets come under pressure.

However, Indonesia's national tourism law has environmental conservation targets. However, there is a lack of suitable action plans as a result of set policies. Similarly, lawmakers in India are showing greater awareness of  these goals. However, their policies are yet to get approved, and the focus on the implementation of sustainable policies has been negligible. These factors are expected to pose a threat to the growth of the ecotourism market during the forecast period.

Market Customer Landscape

Market forecasting analysis of the life cycle of the market indicates a movement from the innovator’s stage to the laggard’s stage. The market research report has included key purchase criteria, adoption rates, adoption lifecycles, and drivers of price sensitivity to help companies evaluate and develop growth strategies from 2024 to 2028.

Market Customer Landscape

Who are the Major Market Players?                                  

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the ecotourism market

• Adventure Alternativ - The company offers sustainable tourism, such as flying adventures, wildlife safaris, school expeditions, and trekking.

We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including :

• And Beyond Holdings Proprietary Ltd.
• Aracari Travel
• Beyonder Experiences LLP
• BOUTECO Ltd.
• Earth Changers
• G Adventures
• Global Himalayan Expedition
• Intrepid Group
• Kind Traveler PBC
• Kynder
• Mojosurf
• NATIVE TOURS INC.
• Responsible Travel
• Rickshaw Travel Ltd.
• Steppes Travel Ltd.
• The Blue Yonder
• Undiscovered Mountains Ltd.
• Wild Frontiers Adventure Travel Ltd.
• Wilderness Safaris

Qualitative and quantitative market growth analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

Market Segment 

The market share growth by the domestic segment will be significant during the forecast period. Domestic sustainable tourism refers to the travel of residents within an economic territory of a particular country or region with the aim of reducing the ecological footprint. It ensures a positive experience for local communities and safeguards their economic interests. The domestic segment dominates the market in focus. The segment is expected to continue to lead the market during the forecast period due to advantages such as tourists' familiarity with a country's policies and rules. The domestic market is driven by the absence of currency exchange issues and the importance of regional economic growth. Though this segment holds a major market share, it is expected to exhibit a decline in its share during the forecast period, owing to an increasing focus of developing countries on international sustainable tourism owing to the chances of higher foreign exchange earnings. 

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The domestic segment showed a gradual increase in market share with USD 367.50 billion in 2018. Governments of many developing countries, including China and Brazil, are classifying different types of tourism activities into several subsets, including sustainable tourism, sports tourism, culinary tourism, and cultural tourism. This is mainly to encourage local people to experience different types of tourism activities within a country. The governments of such countries use domestic sustainable tourism as an opportunity to drive economic growth, upgrade infrastructure, and improve economic links between different internal regions of a country. China leads the domestic market, followed by the US, which is attributed to the growing middle-class population and the government's support for promoting new tourist locations. These factors will likely be important for the growth of the domestic sustainable tourism segment in developing countries during the forecast period.

Key Regions

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Europe is projected to contribute 43% by 2028. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the ecotourism market during the forecast period.  France, Germany, and the UK are the leading countries that account for over 50% of the market in the region. The growth of the market in these countries, especially France and Germany, can be attributed to the collaborative efforts of governments at the national level to develop different policies for sustainable tourism. These policies include setting the required targets and guidelines for tourist transport as well as monitoring final assessments and results of the set targets to reduce the consumption of water and energy and greenhouse gas emissions. Moreover, restrictions on international flights have also been lifted across the world. This will spur the arrival of foreign tourists in Europe, leading to an increased demand for sustainable tourism during the forecast period. Thus, the growth of the market in Europe is projected to rebound during the forecast period.

Segment Overview

The market research and growth report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion " for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Type Outlook 
  • Domestic
  • International 

• Booking Channel Outlook
  • Phone booking
  • Online booking
  • In-person booking

• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • South America
    • Chile
    • Argentina
    • Brazil
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

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Market Analyst Overview

The market is deeply intertwined with biodiversity conservation, indigenous cultures preservation, and adherence to moral principles governing environmental stewardship. This sector places a strong emphasis on carbon emissions reduction through CSR initiatives, aligned with laws and regulations promoting sustainable practices. Financial incentives further motivate entities towards eco-friendly operations, fostering cross-cultural understanding and appealing to environmentally conscious demographics like Millennials, Generation Z, and baby boomers. Moreover, coastal tourism, mountain tourism, and island destinations are key niches within sustainable travel, catering to various preferences like solo tourism, group trips, or family vacations.  Notably, CXOs and local residents play pivotal roles in endorsing and implementing renewable energy solutions such as solar and wind power, alongside waste management technologies and eco-certified infrastructure like LEED buildings.

Further, digital platforms including online platforms, mobile apps, and virtual reality enhance passenger preferences, offering novel tourism experiences while aiding large travel organizations and international hotels in aligning with Sustainable Development Goals (SDGs). This holistic approach encompasses consumer orientation towards ecological tourism, soft tourism, and community-based initiatives, contributing to a reduced carbon footprint and fostering a more sustainable future in global travel. Cheesemans Ecology Safaris is dedicated to promoting sustainable tourism practices. Their policies and regulations ensure that all types of travelers, whether independent or part of a tour group, are engaged in environmentally conscious activities. For package travelers, this commitment is reflected in carefully designed itineraries that prioritize positive social and economic benefits. By focusing on the tourism value chain, Cheesemans Ecology Safaris helps to create a beneficial impact for both visitors and the local population. Their tours emphasize the preservation of cultural and natural resources, which is crucial in combating environmental deterioration, such as depletion of forests and loss of biodiversity. Through responsible tourism, they aim to balance enjoyment with ecological and cultural preservation, ensuring that the beauty and integrity of destinations are maintained for future generations.

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What are the Key Data Covered in this Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the ecotourism market between 2023 and 2027
• Precise estimation of the size of the ecotourism market and its contribution to the parent market.
• Accurate predictions about  upcoming market trends and changes in consumer behaviour
• Growth of the ecotourism market industry across Europe, North America, APAC, South America, and the Middle East and Africa
• A thorough market forecast analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive market growth and forecasting details of factors that will challenge the growth of ecotourism market vendors

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