Asia-Pacific and Africa Ecotourism Market to Grow at a CAGR of 14.0% from 2022 to 2027, reaching US$ 150,908.3 Million
Asia-Pacific is anticipated to witness highest growth rate, registering a CAGR of 14.0% from 2022 to 2027.
PORTLAND, OREGON, UNITED STATES, October 20, 2023 /EINPresswire.com/ -- The Asia-Pacific and Africa ecotourism market size was valued at $64,417.9 million in 2021, and is projected to reach $150,908.3 million by 2027, registering a CAGR of 14.0% from 2022 to 2027.
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The global ecotourism network (GEN) defines ecotourism as "responsible travel to natural areas that conserves the environment, sustains the well-being of the local people, and creates knowledge and understanding through interpretation and education of all involved (visitor, staff and the visited)". Ecotourism is a form of tourism that unites communities, and enables conservation, and sustainable travel. It involves travelling to remote and pristine destinations where the fauna, flora, and cultural heritage are the center of attractions. Recent years have seen increased popularity of eco-tourism around Asia-Pacific and Africa. The rise in preferences among travelers toward the green transport, focus on zero waste, and more interest for unique experience are few of the major Asia-Pacific and Africa ecotourism market trends augmenting the growth.
The tourism industry in these regions is undergoing paradigm shift with increased environmental consciousness among the young and dynamic population in Asia-Pacific. As a result, stakeholders across the industry are promoting natural, unadulterated and pristine destinations to lure tourists. Preserving natural resources along with accommodating large tourists with minimal impact on the environment remains core objective for the engaged stakeholders. The Asia-Pacific and Africa ecotourism market growth is majorly driven by the adoption of technological advancements by the service providers to cater to the demand for digitized services and offerings in the sector.
The rise of travel and tourism to unique destinations has shown significant resilience in Asia-Pacific as well as Africa. India, Kenya, Tanzania, and Nepal are the trending hotspots in unique eco-tourism destinations travelled across. Nepal witnessed a monumental 24% increase in travelers in 2019 recording about 1,173,072 travelers at the end of the year. Similarly, Kenya's 2018 tourist arrivals increased by more than 37% crossing the two million. Furthermore, countries such as Bhutan, Sri Lanka, and Philippines are now becoming main spots for ecotourism. Tanzania has performed competently in the last few years by focusing on niche markets in contrast with the country’s historical, natural, and cultural tourism assets.
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Wildlife tourism, birdwatching, coral reefs and pristine undisturbed natural areas such as Amazon forests, have attracted travelers across the globe. The tourism industry is getting impacted profoundly amidst the outbreak of the coronavirus. The outbreak started in China resulting in lockdown and widespread restrictions across the country.
The international departures decreased across the world owing to stringent air travel restrictions and lockdowns across the world. Furthermore, recent developments in resurgence of second wave of corona virus in Asia-Pacific and Africa are one of the major challenges for the industry to face in the upcoming days. The Asia-Pacific and Africa ecotourism market is segmented on the basis of age group, sales channel, traveler type, type, service visitor, spending, and region. Based on age group, the Asia-Pacific and Africa ecotourism market is bifurcated into generation X, generation Y, and generation Z. On the basis of sales channel, the Asia-Pacific and Africa ecotourism industry is studied across travel agents, tour operator, and direct.
Based on traveler type, it is bifurcated into solo, group, and family. Based on service the Asia-Pacific and Africa market is segmented into travel, accommodation, and activities. On the basis type, the market is studied across type (wildlife, nature, marine, agro-tourism, eco-treks, eco-activities), Based on visitor, spending, and region, the Asia-Pacific and Africa ecotourism market is segmented by domestic & international and budget, mid-range, & high-end, and Asia-Pacific & Africa respectively.
Based on service the Asia-Pacific and Africa ecotourism market is segmented into travel, accommodation, and activities. On the basis type, the market is studied across type (wildlife, nature, marine, agro-tourism, eco-treks, eco-activities), Based on visitor, spending, and region, the market is segmented by domestic & international and budget, mid-range, & high-end, and Asia-Pacific & Africa respectively.
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Key Findings of the Study
On the basis of age group, the generation Z segment is projected to witness the highest CAGR of 15.0%, in terms of revenue, during the Asia-Pacific and Africa ecotourism market forecast period.
On the basis of sales channel, the travel agent segment is expected to dominate the Asia-Pacific and Africa ecotourism market size during the forecast period.
On the basis of traveler type, the solo segment is expected to grow at a highest CAGR of 14.9% during the forecast period.
On the basis of type, the marine segment is expected to dominate the Asia-Pacific and Africa ecotourism market share.
On the basis of service, the activities segment is expected to grow at a highest CAGR of 14.7% during the forecast period.
On the basis of visitor, the international segment is expected to grow at a highest CAGR of 14.4% during the forecast period.
On the basis of spending category, high-end segment is expected to grow at a highest CAGR of 15.0% during the forecast period. China was the largest country, in terms of revenue generation, in Asia-Pacific ecotourism industry in 2021.
The Asia-Pacific and Africa ecotourism market analysis indicates that Asia-Pacific is anticipated to witness highest growth rate, registering a CAGR of 14.0% from 2022 to 2027.
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