Global Alternative Tourism Market Set For 3.9% Growth, Reaching $110.37 Billion By 2028
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What is the Projected Growth of the Alternative Tourism Market by 2024
In recent years, the alternative tourism market size has grown steadily. It is projected to grow from $91.25 billion in 2023 to $94.58 billion in 2024, marking a compound annual growth rate CAGR of 3.6%. The growth in this period can primarily be attributed to increasing awareness about environmental and cultural preservation, demand for authentic travel experiences, an ardent desire for sustainable development, and growing interest in eco-friendly and ethical travel options. This market growth is further stimulated by the need for economic support in local communities.
What Is the Projected Market Size of the Global Alternative Tourism Market and Its Growth Rate?
The alternative tourism market size is expected to continue its steady growth in the coming years. It is projected that it will reach $110.37 billion in 2028 at a compound annual growth rate CAGR of 3.9%.
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What Drives the Alternative Tourism Market Forward?
The rise in the number of international travelers is a significant driver of the alternative tourism market. International travelers are individuals who cross national borders for purposes such as tourism, business, or education. Increasing global connectivity, higher disposable incomes, and a growing interest in diverse experiences have contributed to a surge in the number of international travelers. These travelers support local economies, preserve cultural heritage, and promote environmental conservation by choosing alternative tourism options. For instance, in February 2024, the overall number of international visitors to the United States is projected to reach 77.7 million, marking an increase of 10.4 million or 15.4% from the 67.3 million visitors recorded in 2023. These projections come from the International Trade Administration, a US-based government resource, reinforcing the prediction that an increase in international travelers will drive the alternative tourism market.
What is the Potential Market Size by 2028 and Who Are the Key Market Players?
Major companies operating in the alternative tourism market are The Travel Corporation, City Experiences, Abercrombie & Kent USA LLC, Intrepid Travel Pty Ltd, TourRadar GmbH, G Adventures Inc., Viator Inc., Zicasso Inc., Secret Food Tours, Eating Europe Food Tours, Food Tour Corporation, Greaves Travel Ltd, The International Kitchen, Culinary Backstreets, India Food Tour, Classic Journeys LLC, Context Travel, Epicurean Ways LLC, Gourmet on Tour, The FTC4Lobe Group
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What Trends Are Transforming the Alternative Tourism Market?
Companies operating in the alternative tourism market are leveraging technological advancements such as authentic ecotours aiming to enhance travel experience. Authentic ecotours offer travel experiences immersed in natural settings that prioritize environmental conservation, respect for local cultures, and support for community-based initiatives. In April 2023, the MEET Network, a Spain-based travel arrangement association, and Intrepid, an Australia-based travel company, launched an authentic 9-day expedition in Albania. This eco-friendly adventure allows travelers to explore remote regions while also supporting local communities and conservation efforts.
How is the Alternative Tourism Market Segmented?
The alternative tourism market covered in this report is segmented as follows:
1 By Type: Dark Tourism, Ecotourism, Volunteer Tourism, Rural Tourism, Other Types
2 By Activity: Land-Based Activity, Water-Based Activity, Air-Based Activity
3 By Age Group: Below 30 Years, 30 To 41 Years, 42 To 49 Years, 50 Years And Above
4 By Type Of Traveler: Solo, Friends Or Group, Couple, Family
5 By Booking Channel: Phone Booking, Online Booking, In Person Booking
From a regional perspective, Europe was the largest region in the alternative tourism market in 2023. The regions covered in this alternative tourism market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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