Sustainable Tourism Market To Witness Exponential Growth By 2020-2027, Says Allied Market Research

Sustainable Tourism Market, Sustainable Tourism, Tourism, Sustainable Tourism Market Size

Sustainable Tourism Market

Sustainable Tourism Market Type, Application, Age Group: Global Opportunity Analysis and Industry Forecast, 2020-2027

Travel and tourism play an important role in the country’s GDP but due to COVID pandemics, GDP has decreased.”

— Roshan Deshmukh

PORTLAND, OREGON, UNITED STATES, October 6, 2021 / — 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.

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.

There are different foundations, which focus on the development of sustainable tourism. There is a non-profit foundation in Switzerland that improves the livelihoods of people and contributes to intercultural understanding between local and tourists.

The sustainable tourism market has become very popular and is adopted by many countries like Bhutan. Bhutan tourism has a principle of high value, low impact. They have opted for controlled tourism to sustain and conserve the environment.

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)

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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.

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.

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.

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Source: EIN Presswire