The geotourism global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Geotourism Market, 2024The geotourism global market report 2024
Market Size –
The geotourism market size has grown strongly in recent years. It will grow from $668.9 billion in 2023 to $709.34 billion in 2024 at a compound annual growth rate (CAGR) of 6%. The growth in the historic period can be attributed to growing popularity of nature-based and off-the-beaten-path travel, increasing availability of eco-friendly accommodations, expansion of international travel and tourism markets, growing trend of digital nomadism and remote working, influence of social media and travel influencers.
The geotourism market size is expected to see strong growth in the next few years. It will grow to $901.62 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to increasing awareness of environmental conservation, growth in eco-friendly travel preferences, rising interest in sustainable and responsible tourism, expansion of adventure travel activities, rising disposable income and consumer spending on travel. Major trends in the forecast period include development of new geotourism destinations, technological advancements in travel and booking platforms, strong marketing and promotion of geotourism destinations, collaboration between tourism operators and local communities, advances in transportation infrastructure to remote locations.
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Scope Of Geotourism MarketThe Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Geotourism Market Overview
Market Drivers –
The increasing number of international tourists is projected to propel the growth of the geotourism market. International tourists are those who travel abroad for leisure, business, or other purposes, contributing to foreign economies through their spending on various services and attractions. The rise in international tourism is driven by greater travel accessibility, improved global connectivity, and a desire for cultural experiences. Geotourism appeals to international tourists by offering immersive experiences that highlight unique geological features, local cultures, and sustainable travel practices. According to the Office for National Statistics in May 2023, the UK experienced 31.2 million visits in 2022, an increase of 24.9 million visits compared to 2021, and UK residents’ trips abroad rose from 51.8 million in 2021 to 71.0 million in 2022. Therefore, the increasing number of international tourists is driving the growth of the geotourism market.
Market Trends –
Major companies operating in the geotourism market are developing technologically advanced products, such as geolocation products, to enhance the travel experience by offering personalized and interactive tours. A geolocation product is a technology or service that determines and utilizes the precise geographic location of a device or user to provide location-based information and functionalities. For instance, in May 2024, OpenBet, a UK-based software company, launched the OpenBet Locator. Built on the backbone of Amazon Web Services (AWS), OpenBet’s strategic cloud provider, OpenBet Locator is a low latency geolocation product designed to enable operators worldwide to accurately locate, promote to, and monitor customers while maintaining full compliance with regulatory requirements. Key features include fully flexible geo-fence management and high precision location tracking, fraud prevention with real-time VPN and location spoofing detection, player targeting for CRM, data analysis, and in-venue promotions, a multi-tenanted solution supporting a travelling wallet, and easy, flexible configuration options to streamline business operations workflows.
The geotourism market covered in this report is segmented –
1) By Tour Type: Individual Travel, Professional Groups, Group Travels
2) By Tourism Type: Sustainable Tourism, Urban Geo-Tourism, Rural Geo-Tourism, Natural Tourism, Eco Geo-Tourism, Other Tourism Types
3) By Booking Channel: Phone Booking, Online Booking, In-Person Booking
4) By Direct Suppliers: Airlines, Hotel Companies, Car Rental, Train, Tour Operators, Government Bodies
5) By Application : Below 30 Years, 30-40 Years, 40-50 Years, Above 50 Years
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Regional Insights –
Asia-Pacific was the largest region in the geotourism market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the geotourism market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies in the market are TUI AG, China CYTS Tours Holding Co. Ltd., Abercrombie & Kent Group, Intrepid Travel Pty Ltd., Backroads Inc., Mountain Travel Sobek, Natural Habitat Adventures, G Adventures Inc., Omega World Travel Inc., Butterfield & Robinson, World Expeditions, AAA Travel, Exodus Travels, JTB Americas Group, GeoEx Ltd., Adventure Life, Zegrahm Expeditions Inc., Naturetrek Ltd., National Geographic Expeditions, EcoTours International LLC, InnerAsia Travels, All Star Travel Group, Boundless Journeys Inc., AdventureSmith Explorations Inc., Wild Frontiers Ltd.
Table of Contents
1. Executive Summary
2. Geotourism Market Characteristics
3. Geotourism Market Trends And Strategies
4. Geotourism Market – Macro Economic Scenario
5. Global Geotourism Market Size and Growth
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32. Global Geotourism Market Competitive Benchmarking
33. Global Geotourism Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Geotourism Market
35. Geotourism Market Future Outlook and Potential Analysis
36. Appendix
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