Ecotourism is a part of the tourism industry that involves visiting pristine, fragile, and reasonably peaceful natural areas, which is developed as a low-impact and frequently small-scale option to standard commercial mass tourism. It involves liable travel to natural areas, preserving the environment, and enhancing the well-being of the local community. The purpose of ecotourism is to educate the visitors, to provide resources for environmental conservation, to precisely promote economic development and political consent, or to nurture respect for diverse cultures and for human rights. Rising concern over global warming, the increasing number of tourist arrival, and the increasing government funding for tourism-related initiatives are the few factors responsible for the high CAGR of the market over the forecast period. According to the World Bank Group, it is measured that in 2016 approximately 76.4 million international tourists arrives in the United States that is increased to 76.9 million in 2017. Similarly, As per the UNWTO (World Tourism Organization in the United Nations), in 2018, there were around 87 million international tourists arrived in the Middle East and North Africa region, which is an increase of an estimated 10% international visitors from 2017. This, in turn, is expected to accelerate the growth of the ecotourism market around the world. However, lack of awareness about ecotourism, and extreme climate, and political and economic instability around the world are the few factors anticipated to hamper the growth of the global ecotourism market over the forecast period.
The global Ecotourism Market is valued approximately at USD 181.1 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 14.30% over the forecast period 2020-2027 and is estimated to reach USD 527.58 billion by 2027.
The regional analysis of the global Ecotourism Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Europe is the leading/significant region across the world in terms of market share owing to the increasing number of international tourist arrival, along with the rising government initiatives towards environment protection in the region. However, Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period, due to the rise in disposable income and increasing infrastructural developments projects in emerging economies such as China and India.
Major market players included in this report are Expedia Group, Booking Holdings, China Travel, China CYTS Tours Holding, American Express Global Business Travel, Travel Leaders Group, JTB Corporation, Frosch, And Beyond Intrepid travel.
The detailed segments and sub-segment of the market are explained below:
By Type: Alternative Tourism, Responsible Tourism, Sustainable Tourism, Community Tourism
By Channel: Below 20 Years, 20-50 years, Above 50 Years
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