Global Ecotourism Market Expected to Reach USD 518.22 Billion by 2032, Driven by Increasing Environmental Awareness

With increased environmental awareness, the global tourism industry is experiencing a paradigm change. As a result, industry leaders are promoting sustainable, unadulterated, and pristine destinations as a way to attract visitors, propelling the growth of the ecotourism industry. The committed stakeholders' primary goal is to preserve natural resources while still attracting large groups of visitors with minimal environmental effects. The growing consumer trend of green tourism is also catalysing the market growth, with traveller increasingly preferring visiting places like national parks, bird sanctuaries, and archaeological sites rich in biodiversity. Some of the popular destinations within the ecotourism industry are Costa Rica, South Africa, Galapagos Islands, Peru, and Belize. Governmental support is also helping the industry to strive in major ecotourism destinations. For instance, in Kerala, India, the ecotourism industry works in conjunction with the local forest departments, with the state having multiple ecotourism centres catering to the industry.

In the coming years, the market growth is expected to be propelled by the growth of sustainable hotels. Hilton, one of the biggest hotel chains, has multiple eco-friendly and sustainable locations, such as its Hilton Lake Taupo, New Zealand location. Major mergers and acquisitions by the key players involved in the industry to increase their footprint and enhance their capabilities are expected to further propel the industry growth. Between January to July 2020, Frosch International Travel acquired Illinois-based CorpTrav. and Irvine, Calif., and Boca Raton, Fla. headquartered, Luxe Travel. Such developments are expected to propel the market growth in the forecast period.

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Market Analysis by Traveller Type, Age Group, Sales Channel, and Region:

• The global ecotourism industry, on the basis of traveller type, is bifurcated into solo and group.
• Based on age group, the industry is further segmented into generation X, generation Y, and generation Z.
• By sales channel, the market is divided into travel agent and direct.
• Regionally, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The demand for ecotourism is being driven by the increase in travel and tourism to unique destinations.
• Improvement of transport capabilities is further fuelling the demand for ecotourism.
• The market is expected to be supported by the growth of sustainable infrastructure and supportive governmental initiatives. 
• A growing inclination towards the exploration of wildlife is expected to drive the market over the forecast period.
• A surge in focus on sustainability is projected to catalyse the growth of the global ecotourism industry.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for ecotourism for the periods (2018-2023) and (2024-2032).
• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the traveller types, sales channels, age groups, and major regions of ecotourism. 
• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

Aracari Travel, Frosch International Travel, Undiscovered Mountains, Intrepid Group, Rickshaw Travel Group, Small World Journeys, and Adventure Alternative Ltd, among others are the key players in the global ecotourism market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.

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