LONDON--(BUSINESS WIRE)--Technavio announces the release of its latest report on the sustainable tourism market. The market is segmented by type (domestic and international) and geography (Europe, North America, APAC, South America, and MEA). The report offers an in-depth analysis of recent developments, changes in market regulations, product approvals, product launches, and the market behavior across various segments.
Sustainable tourism Market: Key Findings
- Sustainable tourism market value to reduce by USD 130.12 billion at over (5)% CAGR during 2020-2024
- 6% of market growth to originate from MEA during the forecast period
- Based on the type, the domestic segment will offer maximum opportunities for vendors during the forecast period
- Sustainable tourism market is expected to have a negative impact due to the spread of COVID-19
Sustainable Tourism Market: Growth Drivers
The shifting preference toward local and authentic experiences is one of the key factors driving the growth of the market. Many tourists are exploring local communities to have an authentic traveling experience. This has increased the preference toward the buying of local products, undertaking adventure trips in public transport instead of taxis, and having food in restaurants that use locally grown ingredients. This new form of tourism is increasingly gaining popularity among tourists as they are becoming more aware of the environmental impacts of tourism.
“Implementation of sustainable tourism by large tourism companies and the increasing number of travelers opting for new types of tourism will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Sustainable Tourism Market: Major 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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