The Sustainable Tourism Market provides environmentally responsible and community-oriented travel experiences that allow tourists to immerse themselves in local culture, traditions, environment, and communities in a sustainable way. Sustainable tourism promotes activities that preserve cultural and natural heritage areas and conserve biodiversity. It seeks to minimize waste and pollution while supporting local organizations. The Global Sustainable Tourism Market is estimated to be valued at US$ 8.73 Bn in 2024 and is expected to exhibit a CAGR of 18% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Global Sustainable Tourism Market Share are Wilderness Safaris, Basecamp Explorer AS, Wild Frontiers Adventures Travel, Beyonder Experiences, Bouteco, Cheeseman’s Ecological Safaris, G Adventures Inc., Gondwana Ecotours, Inkaterra, Intrepid Group Pty Limited, LooLa Adventure Resort, NATIVE TOURS, INC., Natural Habitat Adventures, Responsible Travel, Row Adventures, Sustainable Travel International, Tourism Holdings Limited, Undiscovered Mountains, and Vagabond Tours Limited. The growing demand for sustainable travel experiences is driving more travelers to choose eco-friendly and community-oriented tours and activities. Major sustainable tourism companies are also expanding globally to offer their services in new destinations across regions to tap the increasing demand.
Market key trends
The rising consumer environmental awareness and sustainability values are a major trend fueling the growth of sustainable tourism. More travelers now seek experiences that minimize environmental footprint and support local communities. Technological advancements are also allowing sustainable tourism operators to connect with eco-conscious travelers and offer personalized trip planning. The growing popularity of volunteer and charity-based tours that offer cultural immersion while contributing to conservation causes is another notable trend in the market. Sustainable certifications and standards are increasingly guiding tourism businesses to adopt greener practices.
Porter’s Analysis
Threat of new entrants: The sustainable tourism market requires high capital investments and adherence to strict sustainability and environmental standards which poses high barrier for new entrants.
Bargaining power of buyers: The bargaining power of buyers is medium as there are many existing tourism operators who provide sustainable tourism services and options for travelers to choose from. However, eco-conscious travelers care about sustainability which gives operators some pricing power.
Bargaining power of suppliers: Operators depend on local communities and environment alliance groups as suppliers. Their bargaining power is medium to high as sustainable practices require operators to give importance to local needs and causes.
Threat of new substitutes: New types of experiential, adventure or niche tourism can emerge as substitutes. However, sustainable tourism has strong focus on environmental and social causes which attract a certain segment.
Competitive rivalry: The sustainable tourism market has many small to medium operators providing personalized services in different regions. Competitive rivalry is medium to high.
Geographical regions:
Europe accounts for the largest share in terms of value as countries like Switzerland, Norway, Iceland and Finland heavily promote sustainable tourism experiences in the areas of Nordic cultures, adventure and nature activities.
Asia Pacific is projected to experience the fastest growth during the forecast period. Countries like India, Indonesia, Bhutan are increasingly focusing on community-based sustainable tourism that empowers local livelihoods while raising environmental awareness. Protected areas in countries offer untapped potential.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it