DUBLIN--(BUSINESS WIRE)--The "Ecotourism Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global ecotourism market is expected to grow from $157.76 billion in 2021 to $185.43 billion in 2022 at a compound annual growth rate (CAGR) of 17.5%. The ecotourism market is expected to reach $299.03 billion in 2026 at a CAGR of 12.7%.
The ecotourism market consists of sales of ecotourism services by entities (organizations, sole traders, and partnerships) that refer to the responsible travel to natural places which conserves the environment, supports the well-being of local people, and includes interpretation and education. Ecotourism aids in the preservation of environmentally vulnerable areas and raises awareness of local environmental and social issues. It can enhance local livelihoods by utilizing the diverse spectrum of natural and cultural ecosystem services offered by mangroves.
The main types of ecotourism are alternative tourism, responsible tourism, sustainable tourism, and community tourism. Sustainable tourism refers to sustainable practices by the tourism industry that aims to reduce the negative impacts and maximize the positive ones to the environment. The different traveler types include solo travelers, and group travelers and involve various age groups such as generation X, generation Y, and generation Z. It is distributed through several channels including travel agents, direct.
North America was the largest region in the ecotourism market in 2021. Asia Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the ecotourism market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The growing availability of eco-friendly tourist accommodations is expected to propel the growth of the ecotourism market going forward. The eco-friendly tourist accommodation is environmentally sustainable that follows the practices of green living to ensure non-toxic, safe, and energy-efficient accommodation for tourists. The hotels are adopting ecologically friendly designs and operations such as lowering pollutant emissions, and conserving water and energy, procuring green goods to promote ecotourism.
For instance, in October 2020, Hotelbeds, a Spain-based travel technology company launched The Green Hotels Programme to bring a green economy and accelerate the travel industry towards sustainability. With this initiative, Hotelbeds became a member of the Global Sustainable Tourism Council, the global authority that sets standards for sustainable tourism. Therefore, the growing availability of eco-friendly tourist accommodation is promoting the ecotourism market.
Strategic partnerships and collaborations have emerged as a key trend gaining popularity in the ecotourism market. Key players operating in the market are focusing on partnerships and collaborations to enhance their position. For instance, In October 2021, Frosch International Travel, a US-based travel agency that provides sustainable tourism services purchased 51% interest in Conlin Travel's corporate division.
The collaboration aims to give FROSCH a foothold in the Great Lakes region and Conlin Travel access to crucial resources and infrastructure, as well as Frosch's unique technology solutions for clients. Conlin Travel is a US-based travel agency. Moreover, in January 2020, Intrepid Travel, an Australia-based adventure travel company partnered with Trip.com Group. Through this partnership, the companies aim to popularize green trips by offering sustainable travel in China. Trip.com Group is a China-based online travel company.
In April 2021, Frosch International Travel, a US-based travel agency acquired Valerie Wilson Travel (VWT) for an undisclosed amount. Through this acquisition, together the companies aim to reshape the full-service travel management landscape and expand their footprint in New York City and the tri-state area, as well as their global footprint, to become a leader in the premium travel space, by bringing innovative technology. Valerie Wilson Travel is a US-based travel company that provides sustainable and eco-friendly tourism services.
The countries covered in the Ecotourism market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Some of the major players in the ecotourism market are
- Aracari Travel
- Undiscovered Mountains
- Intrepid Group
- Rickshaw Travel
- Small World Journeys
- Adventure Alternative Ltd
- G Adventures
- SteppesTravel
- Booking Holdings Inc.
- Travel Leaders
- JTB Corporation
- AndBeyond
- BCD Travel
- Goway Travel
- Conservation Capital
- Natural Discovery
- National Geographic Expedition
- Baobab Travel
For more information about this report visit https://www.researchandmarkets.com/r/2zatgt
