Ecotourism Market to Grow by 15% CAGR Backed by Favorable Government Initiatives

According to a recent report by Future Market Insights (FMI), the ecotourism market is expected to surpass a valuation of US$ 17 Bn in 2021 and is set the witness growth at a CAGR of ~15% during the forecast period, from 2021.

FMI projects the education sector to significantly contribute towards the ecotourism market growth. The relationship between education and ecotourism is concerned with ensuring that organisations deliver effective interpretations of cultural, resource management, and environmental values.

Education with ecotourism is not only one way of transfering knowledge or information but it is about understanding and learning in a manner that personally involves ecotourism in an enjoyable and interesting manner.

Ecotourism provides a great opportunity to learners and students to receive education and gather knowledge along with personal and professional growth. It can help instil values in students that will lead to their involvement in environmental and other social issues in the future.

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Governments around the world are adopting various initiatives to support the safety and security of tourists. The provision for better security to ensure the safety of tourists is enhancing the scope of tourism by boosting the number of visits from tourists from across the globe.

Also, steps taken by governments to preserve nature will present a conducive environment for the ecotourism market growth. They are also focusing on improvements in the agro-industry, as they have understood the importance of creating a sustainable environment. These initiatives have majorly boosted the market for ecotourism in the world.

Key Takeaways from the Ecotourism Market Study

North America, Europe, East Asia, and Oceania among others are the top-visited destinations for ecotourism.

The United States, the United Kingdom, China, and Australia among others are the most popular countries in the ecotourism market.

The demand for ecotourism will be higher among people aged between 26 years and 35 years.

Natural and wildlife ecotourism demand will rise considerably in the coming years.

UAE will emerge as a popular ecotourism destination backed by favourable government initiatives.

“Policies adopted by local authorities to encourage international cooperation and create a safe environment for tourists will aid the overall ecotourism market growth in the coming years. Millinellials and nature lovers are more inclined towards eco-tourism activities. Besides this, their interest for observation of flora & fauna and enjoying recreational activities such as photo safari, hiking, observation of astronomical phenomena, and many others will fuel demand in the ecotourism market in the coming years,” says an FMI analyst.

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Impact of COVID-19 on the Market

The novel coronavirus outbreak had caused an economic downturn by disrupting corporate operations in the tour and travel industry. Tourists dependent countries felt the negative impacts of the pandemic longer than other economies.

As per the UNWTO, 100 to 120 million direct tourism jobs (including labour-intensive accommodation, food services industries and other transport industries) were at risk. Even after vaccination, somewhere people are scared about another wave of coronavirus in the countries like France and China, which is restricting people to go on foreign tours.

Who is winning?

Players in the ecotourism market are adopting a virtual and online approach to connect with potential tourists. A few key players in the ecotourism market are Eco Travel and Tourism LLC, Big Five Tours & Expeditions Inc., G Adventures, Praxis Holidays LLP, Greenloons LLC, Aracari, Adventure Alternative Ltd, Responsible Travel, Steppes Travel, Great Canadian Trails, Tropical Rainforest Education and Exploration, Windmill Holidays, Farhat Tours & Transfers S.P.C., Intrepid Travel, Frosch International Travel, GeTS Holidays, Midnight Sun Travel, TRUE ECUADOR TRAVEL, and Royal Arabian Destination Management among others.

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Get More Valuable Insights

Future Market Insights, in its new offering, provides an unbiased analysis of the ecotourism market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the ecotourism market based on the type (nature & wildlife, cultural and rural), tour type (independent traveller, tour group and package traveller), tourist type (domestic and international), by consumer orientation (men, women and kids), by age group (15-25 years, 26-35 years, 36-45 years, 46-55 years, and 66-75 years) and region (North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa).

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About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S., and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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