Ecotourism Market Size, Share & Industry Analysis, By Type (Nature & Wildlife Tourism, Agro-tourism, and Others), By Traveler Type (Solo and Group), By Booking Mode (Travel Agents and Direct), By Age Group (Generation X, Millennials, and Generation Z), and Regional Forecast, 2024-2032

The global ecotourism market size was valued at USD 216.49 billion in 2023 and is projected to grow from USD 260.76 billion in 2024 to USD 759.93 billion by 2032, exhibiting a CAGR of 14.31% during the forecast period. Europe dominated the ecotourism market with a market share of 38.87% in 2023.

According to the United Nations World Tourism Organization (UNWTO), ecotourism refers to all forms of nature-based tourism in which the key aim of the tourist is to observe and appreciate nature and the traditional cultures that predominate the natural areas. Furthermore, this type of tourism helps in attracting large number of national and international travelers, which preserves the integrity of the natural environment. It is a eco-friendly tourism that is marketed as responsible travel due to its travel destination, where the cultural heritage, flora, and fauna are the primary attractions for tourists.

The sudden onset of the COVID-19 pandemic badly affected the global economy. COVID-19 was considered a public health emergency that transformed lives and businesses and brought significant changes to the ecotourism industry. The pandemic had a strong negative impact on the manufacturing, logistics, travel, and tourism sectors. The complete closure of national and international borders due to the pandemic was the major reason behind the decline in tourists worldwide. The outbreak of the virus forced governments of various countries to impose lockdown measures to reduce its spread across the world, which further slowed the market progress.

Ecotourism Market Trends

Rising Trend of Online Booking by Tourists to be Major Factor Boosting Market Growth

There are various services provided by online booking companies, such as transportation, lodging, car rental, and others. Furthermore, the frequency of online booking has increased due to easy and quick flight & hotel bookings. In addition, increase in online payment options has made booking simpler, which has further increased tourist footfall. The key market players are also providing their travel services through their company websites and mobile apps, which helps ease booking and is mostly preferred by young professionals, which will further fuel the market growth.

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Ecotourism Market Growth Factors

Steady Development of Travel & Tourism Industry to Drive Market Growth

The tourism sector is continuously growing due to the rising number of tourists, increasing disposable income, growing population, and increase in government support. These factors are also driving the ecotourism market growth. According to the United Nations World Tourism Organization (UNWTO), about 235 million tourists traveled abroad in the first three months of 2023, more than double the number of tourists that traveled during the same period in 2022.

Furthermore, the rise in awareness regarding outdoor recreational activities and increased interest of individuals in sustainable tourism will further fuel the market growth. In addition, the rising government initiatives to enhance tourist footfall will further boost the market. According to Invest India, the Indian government launched the Amrit Dharohar scheme in June 2023, which aims to promote the conservation and enhancement of wetlands to increase eco-friendly tourism opportunities in the country. Furthermore, a rise in public-private partnerships for developing tourism infrastructure, such as airports, railways, roads, accommodation facilities, and others will further increase the demand for sustainable tourism and boost the market growth.

Increase in Digital Marketing Initiatives to Increase Tourist Footfall Will Fuel Market Growth

Digital marketing has become an important medium for the tourism industry as it helps in reaching a large audience and increasing tourist footfall. Digital marketing in travel and tourism refers to the use of different digital platforms and channels to promote and increase the market share of various tourism products and services. It includes various platforms, such as social media marketing, website optimization, search engine optimization, email marketing, and others. The shift toward digital marketing has increased in the last couple of years owing to changing traveler behavior, with tourists increasingly depending on online sources and social media for travel planning. Furthermore, real-time engagement on social media allows ecotourism companies to interact with travelers directly. Furthermore, it helps address travelers’ inquiries, offers immediate assistance, fosters transparency, resolves traveler issues, and builds trust.

Video marketing has emerged as a unique tool that ecotourism companies are adopting to tell compelling stories, showcase travel destinations, and effectively promote their products and services. In addition, video marketing allows travelers to participate and share their valuable experiences, which helps in creating emotional contact between the audience and the destination. Thus, the rise in the adoption of digital marketing by companies, along with the increasing dependency of travelers on social media for planning their tour, will further boost the market growth.

RESTRAINING FACTORS

Rise of Geopolitical Tensions Worldwide to Restrict Market Growth

Rise in geopolitical instability is a major concern for the ecotourism industry. Geopolitical events, such as conflicts between the U.S. & Turkey, Russia & Ukraine, the U.S. & Russia, and the U.S. & China, have increased concerns regarding direct and indirect economic effects of geopolitical risks. In addition, countries that are highly dependent on the tourism sector are badly affected by the geopolitical conflicts as they result in a decrease in the number of tourists visiting different parts of these nations. Thus, the rise in geopolitical tensions between countries is a major factor restricting the growth of the industry.

Ecotourism Market Segmentation Analysis

By Type Analysis

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Wildlife Ecotourism to Gain Traction Owing to Increase in Awareness Regarding Wildlife Conservation

Based on type, the market is segmented into nature & wildlife tourism, agro-tourism, and others. The nature & wildlife tourism segment holds a major ecotourism market share owing to an increase in tourists’ interest in safari tours and mountain tourism. Nature & wildlife tourism allows tourists to introspect and gain useful insights into culture and biodiversity as localities and communities are deeply involved in wildlife conservation. Furthermore, rise in government support for the promotion of national parks, nature, and wildlife has increased the tourist footfall for wildlife tourism. A large number of people learn about wildlife tourism attractions through social media platforms, such as Instagram, Facebook, and YouTube, which will increase the tourist footfall for wildlife tourism and drive the segment’s growth.

By Traveler Type Analysis

Travelers to Prefer Traveling in Groups Due to Rise in Holiday Packages for Couples or Groups

Based on traveler type, the market is divided into solo and group. The group segment holds a major share owing to rise in the introduction of vacation packages for couples and groups for travel and hotels. Furthermore, rise in group-related activities in eco-friendly tourism will further drive the segment’s growth. The growing disposable income, increasing tourist inclination toward flora & fauna, and rise in the number of tourists enjoying cultural experience will further boost the market growth.

By Booking Mode Analysis

Customers to Opt for Direct Booking Mode Owing to Rise in Internet Penetration Worldwide

Based on booking, the market is divided into direct and travel agent. The direct booking segment is growing significantly owing to rise in the launch of quick & seamless mobile apps and company websites for booking tickets and locations for travel. It also holds the largest share in the market. Furthermore, mobile apps provide the booking rates, total distance to the tourist site, and other information to customers. This mode of booking helps both customers and business owners as direct booking apps store information related to travelers and provide eligible discounts or offers to tourists. Moreover, direct booking removes the mediator, which reduces the prices of tickets and hotel bookings. Thus, the rise in internet penetration and availability of quick mobile apps will further fuel the growth of the segment.

By Age Group Analysis

Millennials to Opt for Ecotourism Owing to Rising Interest in Gaining Cultural Experience

Based on age group, the market is segmented into generation X, millennials, and generation Z. The millennial or generation Y segment is growing significantly as more people from this generation are opting for eco-friendly tourism due to the rising influence of social media advertisements. Furthermore, millennials are currently the fastest-growing age group and one of the highest spenders on travel. The millennials’ inclination toward wildlife and natural tourism has increased as they are focusing more on unique experiences. The key players in the global market are including a variety of offers or discounts that will prompt travelers to plan their visits frequently. Hence, the emergence of social media campaigns for encouraging individuals to travel, along with the rise in spending on traveling, will further boost the segment’s growth.

REGIONAL INSIGHTS

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Europe dominates the global market owing to rising interest in environmentally conscious travel and activities. Europe is the most popular travel destination globally owing to its cultural heritage, famous landscapes, and lavish lifestyle. A large number of countries in Europe are members of the European Union (EU) and share a common currency, the Euro. Having a common currency helps tourists who frequently travel as it reduces the currency conversion cost and helps them spend more on traveling.

Asia Pacific is expected to record a significant CAGR owing to rise in disposable income, employment opportunities, urbanization, and others. Furthermore, robust economic growth in a region with more than half of the world's population, coupled with increased air connectivity, promotion of tourism, and major infrastructure projects, has fueled international tourism in the region. Rise in government investment for the development and maintainance of the existing ecotourism attractions in the region will further result in bringing in large number of tourists. For instance, in January 2021, the Ministry of Tourism (MOT) in India approved USD 0.32 million for an eco-tourism project in Morni-Pinjore Hills and Sultanpur National Park in Haryana.

Ecotourism has grown significantly in North America in the last couple of years owing to increasing interest of individuals in wildlife tourism, natural habitat, and others. Rise in the trend of travel vloggers on YouTube, Instagram, and other social media platforms has attracted a large number of tourists, which has further boosted the growth of the regional market. In addition, U.S. government agencies are allocating more funds and time to collaborative projects and playing a key role in developing, planning, and mxanaging ecotourism activities. Thus, increase in government initiatives to promote eco-friendly tourism and high interest of people in traveling will further fuel the regional market growth.

South America and the Middle East have observed an increase in tourist footfall in the last couple of years. Countries, such as the UAE have a rich natural environment that offers a unique combination of diverse terrain. The UAE has a large arid land with vast sand deserts, but it is also known for its mountains, oases, sand dunes, valleys, mangroves, beaches, and salt plains. This diversity of the UAE, which is home to different flora and fauna, attracts a large number of visitors to the country and will eventually boost the regional market growth.

List of Key Companies in Ecotourism Market

Key Companies to Adopt Innovative Strategies to Gain Competitive Edge

This market is highly competitive, and prominent companies, such as G Adventures, ROW Adventures, Frosch International Travel, and others have focused on technological innovations, partnerships, and business expansions to gain a strong foothold in the market. They are also focusing on their promotion and marketing strategies to create strong brand awareness.

LIST OF KEY COMPANIES PROFILED

• G Adventures (Canada)


• Adventure Alternative Ltd (Ireland)


• ROW Adventures (U.S.)


• Steppes Travel (U.K.)


• Aracari (U.S.)


• Small World Journeys (Australia)


• Black Kite Tour (Ethiopia)


• Global Sustainable Ecotours (U.S.)


• Discover Corps (U.S.)


• Rickshaw Travel Group (Tanzania)

KEY INDUSTRY DEVELOPMENTS

• August 2023 - G Adventures announced its partnership with Jerne, which is a platform that connects content creators with experience providers of specific geographical areas and themes. This partnership will make the company’s marketing strategy more effective and help enhance the customer reach.


• November 2022 – G Adventures invested in travel technology start-up Reforest, which is a digital platform that connects travelers with communities so that restoration of the ecosystem can be done by using the reforestation method.


• November 2022 - Ecotourism Australia, in partnership with Tourism Australia, introduced the Strive 4 Sustainability Scorecard program. This program is an open platform for all tourism companies wishing to embark on their sustainability journey most easily and cost-effectively. The scorecard program will help new entrepreneurs in establishing their tourism business.


• September 2022 - Wilderness Safaris announced its partnership with Wayo Africa to help increase its combined conservation footprint in Tanzania. Furthermore, this partnership will also help increase the tourist footfall in Tanzania.


• August 2022 -  Saudi Arabia announced the launch of several ecotourism programs to increase the footfall of tourists to 100 million visitors per year by 2030. There are various mega projects, such as The Red Sea Project that the country has started to work on, to contribute to this sustainable tourism goal.

REPORT COVERAGE

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The market research report provides a detailed market analysis and focuses on key aspects, such as competitive landscape, key traveler types, booking modes, and age groups. Besides this, it offers insights into various ecotourism market trends and highlights key industry developments. In addition to the above-mentioned factors, the report encompasses several other factors that have contributed to the growth of the market in recent years.

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Report Scope & Segmentation