LONDON--(BUSINESS WIRE)--Technavio estimates the global sustainable tourism market growth to reduce by USD 130.12 billion and accelerate at a CAGR of about -5% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
The market is driven by the shifting preference toward local and authentic experiences. However, the inability of developing countries to implement sustainable tourism policies might challenge growth.
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Sustainable Tourism Market: End-user Landscape
Based on the type, the market saw maximum growth in the domestic segment in 2019. The segment is driven by the tourists’ familiarity with the country’s sustainable tourism policies and rules. Besides factors such as the growing middle-class population and the government support for promoting new tourist locations are fueling the growth of the segment.
Sustainable Tourism Market: Geography Landscape
MEA was the leading geographical segment in the market in 2019. Countries such as Qatar and the UAE are promoting their sustainable tourism sectors by launching awareness campaigns and presenting industry awards. In addition, the rising focus on infrastructural development in the region will provide several opportunities for market players during the forecast period.
Qatar and the UAE are the key markets for sustainable tourism in MEA. Market growth in this region will be faster than the growth of the market in South America, North America, and Europe.
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Major Three Sustainable Tourism Market Vendors:
And Beyond Holdings (Proprietary) Ltd.
And Beyond Holdings (Proprietary) Ltd. operates its business through the Unified segment. The company offers &BEYOND Connect, a virtual care package for distant places and a constant, insatiable craving for travel.
Adventure Alternative Ltd.
Adventure Alternative Ltd. operates its business through the Unified segment. The company offers personalized trips such as family holidays as well as yoga retreats in the Himalayas, wildlife safaris, and special flying adventures to adventurous locations around the world.
Better Places International BV
Better Places International BV operates its business through the Unified segment. The company offers responsible and customized travel packages and experiences focused around nature and the local population to make the world a little better.
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Related Reports on Consumer Discretionary Include:
Global Adventure Tourism Market – Global adventure tourism market is segmented by type (domestic adventure tourism and international adventure tourism), category (thrill tourism, eco-tourism, accessible tourism, and ethno-tourism), contribution toward GDP (indirect contribution, direct contribution, and induced contribution), and geography (APAC, Europe, MEA, North America, and South America). Get a free sample report to know more
Global Wellness Tourism Market – Global wellness tourism market is segmented by type (domestic and international), application (physical, psychological, and spiritual), and geography (APAC, Europe, MEA, North America, and South America). Get a free sample report to know more
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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