Ecotourism Market Size, Share & Trends Analysis Report By Type (Wildlife, Marine, Nature), By Region (North America, Asia Pacific, Europe, Central & South America, Middle East & Africa), And Segment Forecasts, 2021 - 2028

Report Overview

The global ecotourism market size was valued at USD 176.03 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 10.3% from 2021 to 2028. The rising consciousness about global warming and the need to conserve natural areas is fueling the market growth. Ecotourism is also called sustainable tourism. The primary focus is to learn about the environment, minimize negative impacts, and enhance contribution toward environmental protection. The major motive of tourism is to appreciate and observe nature and promote traditional cultures prevailing in natural areas. Ecotourism supports natural areas' protection by generating economic benefits for government authorities, local host, and organizations responsible for conserving natural areas. It also promotes local job and income opportunities for local communities and creates awareness among locals and tourists to minimize the negative impact on the socio-cultural and natural environment. These factors promote market growth across developed economies, such as the U.S., Germany, France, Canada, and Russia.

Ecotourism has been promoted in developing economies such as Indonesia, India, and Thailand as a viable platform for reducing emissions from forest degradation and deforestation in emerging countries by providing incentives to local communities for their forest conservation efforts. The growth of the tourism and travel sector to unique destinations has shown substantial resilience across the globe. Kenya, Iceland, Nepal, and Palau are the trending hotspots in unique ecotourism destinations across the Asia Pacific region.

In 2017, according to the International Trade Administration, the U.S. travel and tourism industry created over USD 1.6 trillion in economic output and represented over 2.8 percent of the country’s GDP. This factor is bolstering the ecotourism industry demand across the U.S.

Rising consciousness about global warming and increasing environmental concerns encourage people to make a big difference in the world with their traveling dollars via sustainable travels. Exploring a new destination and socializing with new people have long been known as a time for relaxation and retreat. Growing travelers’ interest in ancient civilizations, archaeology, ethnobotany, tropical ecology, and primate ecology has amplified the market growth.

Type Insights

Wildlife tourism held the largest share of more than 33.0% in 2020 and is expected to witness the fastest growth from 2021 to 2028. Tourism, where the major attraction and principal activity is monitoring and observing animals in their natural habitats, is called wildlife tourism. This is frequently touted as a solution to the problems that include species extinction, increased poaching, and habitat destruction. Tourist attractions primarily help to collect incentives to conserve wildlife populations and habitats.

Wildlife tourism also plays an important role in both developed and developing economies. In 2030, emerging countries are anticipated to generate over 57% of the market share from international tourist arrivals, which shall amount to over 1 billion visitors. Tourists are becoming more aware of sustainable destinations and hotels. Ecotourism usually compels visitors to make their travel arrangements on their own, wherein mass tourism relies on a greater number of tour operators and travel agents. Small groups and long-term stays are common among the travelers in this market, whereas mass tourism frequently depends on large groups staying for a very short period.

Regional Insights

Asia Pacific held the largest share of over 35.0% in 2020 and is expected to witness the fastest growth from 2021 to 2028. There has been an increase in nature-bound activities in major economies, including Australia, Japan, Indonesia, the Philippines, and South Korea.

Australia tops the world in wildlife tourism, with its vast areas of completely uninhabited wilderness, rainforests, and tropical jungle. Sustainable travel supports nearly one million jobs throughout Australia. Adverse impacts of this COVID-19 pandemic have added significant challenges to the Australian travel and tourism industry owing to recent bushfires, droughts, and floods. The above-mentioned factors hampered the growth of the Australian tourism sector in 2020.

According to Conservation International, the Rainforest Alliance, and the UNEP, wildlife and natural attractions dominate the Asia Pacific region. Key activities in natural attractions include bird watching, rafting, kayaking, freshwater fishing, horseback riding, cycling and mountain biking, camping, hiking, and nature walks.

Europe is expected to expand at a CAGR of 10.0% from 2021 to 2028. In Europe, especially countries such as Iceland, the Netherlands, Sweden, Denmark, France, and Germany are the major countries driving the market for ecotourism. Sweden is one of the best hotspots in the world for sustainable travel. The country holds the ecotourism quality certification, “Nature’s Best”, which is a unique certificate across the European region. The country’s economic benefits are added primarily for the resources of cultural and ecological activities.

Crude oil price fluctuation on account of economic and political turmoil in the Middle East requires a shift to maintain its current account surplus in the region. Hence, the region is focusing on promoting sustainable travel across countries, such as Jordan, Morocco, Lebanon, Oman, Tunisia, and Egypt.

Key Companies & Market Share Insights

The market for ecotourism is characterized by the presence of various well-established players and several small and medium-scale players. However, the industry is dominated by top international players. The tourism services providers are rebranding themselves to meet the changing market needs and customer demands. The majority of companies promote their offerings directly through websites, third-party travel portals, or promotional organizations. Some prominent players in the global ecotourism market include: -

• &Beyond
• Intrepid Travel
• FROSCH International Travel
• Responsible Travel
• Adventure Alternative
• Kind Traveler
• Aracari
• Rickshaw Travel
• Travel Leaders Group
• Adventure Alternative
• Small World Journeys Pty Ltd.
• Steppes discovery
• Undiscovered Mountains Ltd.

Ecotourism Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2028. For the purpose of this study, Million Insights has segmented the global ecotourism market report on the basis of type and region:

• Type Outlook (Revenue, USD Billion, 2017 - 2028)
  • Wildlife
  • Marine
  • Nature
  • Others
• Regional Outlook (Revenue, USD Billion, 2017 - 2028)
  • North America
    • U.S.
  • Europe
    • Germany
    • U.K.
    • France
    • Russia
  • Asia Pacific
    • China
    • Australia
  • Central & South America
  • Middle East & Africa