Allied Market Research published a new report, titled, “Sustainable Tourism Market” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
Sustainable tourism is a tourism that has accommodation, entertainment, shopping but with protecting the host community. It has principles that ensure social equity, economic efficiency, and environmental conservation. The government is taking steps to promote sustainable tourism. It is to maximize the positive impact of tourism to maintain the biodiversity and the economy. It is to ensure profitability with environmental beauty.
Increase in awareness about the environment, shifts in the preferences to local experiences, and people’s interest in exploring new cultures, and cuisine drive the growth of global sustainable tourism market. However, the factors that can hamper the growth of sustainable tourism are government policies, lack of investment, resources, and high cost on travel. Even so, sustainable tourism can grow in the future with the increase of this type of tourism. Some governments are also providing help for the development of sustainable tourism.
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For the development of sustainable tourism, the tourist accommodation places are providing sustainable luxury and cultural awareness. A resort in Fiji has 100% solar power, stores rainwater, and has its water-filtration to eliminate the single-use plastic bottles.
The key market players profiled in the report include – Bouteco, Kind Traveler, Responsible Travel, Wild Frontiers Adventures Travel, Wilderness Holding Limited, Beyonder Experiences, Kynder, Eco- Companion, Undiscovered Mountains, Rickshaw Travel.
Geographically Analysis – North America (U.S. and Canada), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, and Rest of LAMEA)
COVID-19 Scenario Analysis:
? The novel COVID-19 has heavily impacted the tourism industry.
? Restriction on travel and transportation has caused heavy losses for the global destinations and hotels.
? Due to COVID-19 there is a risk of 200 million job loss in tourism in future.
? According to UNWTO stats shows tourist arrival decreased by 22% in Q1 2020.
? Travel and tourism play an important role in the country’s GDP but due to COVID pandemics, GDP has decreased.
Key Segments Covered:
• Age Group
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Key Benefits of the Report:
? This study presents the analytical depiction of the global sustainable tourism industry along with the current trends and future estimations to determine the imminent investment pockets.
? The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global sustainable tourism market share.
? The current market is quantitatively analyzed from 2020 to 2027 to highlight the global sustainable tourism market growth scenario.
? Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
? The report provides a detailed global sustainable tourism market analysis based on competitive intensity and how the competition will take shape in coming years.
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to offer business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
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