The heritage tourism global market report 2024 from 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.
Heritage Tourism Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The heritage tourism market size has grown strongly in recent years. It will grow from $573.34 billion in 2023 to $606.57 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to increase in affordability of tour packages, growth in demand for experiential travel and immersive experiences, growth in enhancement in the visitor experience at heritage sites, and increasing awareness of cultural preservation and sustainable tourism.
The heritage tourism market size is expected to see strong growth in the next few years. It will grow to $771.50 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to increasing demand for cultural festivals and events, growing educational opportunities, rise in religious and spiritual travel, increasing economic contribution, and increasing government support and initiatives. Major trends in the forecast period include integration of augmented reality (AR) and virtual reality (VR) to enhance the visitor experience, adoption of sustainable and eco-friendly tourism practices, innovation in personalized and customized heritage tour packages, development of 3D modeling and holography for exhibits, and advancements in digital platforms.
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Scope Of Heritage Tourism Market
The 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.
Market Drivers –
The growing popularity of historical events is expected to drive the growth of the heritage tourism market, as these significant occurrences from the past shape societies and cultures. This rising interest in historical events stems from improved educational resources, enhanced media representation, cultural trends, and new research perspectives, alongside a desire for understanding personal and societal contexts. Historical events contribute to heritage tourism by providing compelling narratives and attractions that attract visitors, enrich their understanding of cultural heritage, and stimulate local economies. For example, Historic England, a UK-based government agency, reported in January 2024 that visits to historic attractions in the UK increased by 11% in 2023 compared to 2022, with visits to places of worship more than doubling from the previous year and revenue from historic attractions rising by 10% in 2023. Therefore, the growing popularity of historical events is significantly driving the heritage tourism market.
Market Trends –
Major companies operating in the heritage tourism market are focusing on technology integration to enhance the travel experience through seamless booking systems, real-time updates, and mobile apps that provide intuitive navigation, personalized recommendations, and efficient access to local attractions. This strategy aims to deliver a more efficient, personalized, and enjoyable experience for travelers streamline the travel process, making it more convenient and tailored to individual preferences. For instance, in November 2021, Myheritage, an Israel based software development company, partnered with Expedia Group to launch heritage travel hub. It is a technology-driven platform that enhances heritage tourism by leveraging digital tools to help users discover their ancestry and create travel itineraries rooted in their family history. This platform provides a thorough resource, offering tailored recommendations for cultural landmarks, historical sites, and culinary experiences across different countries where users might have ancestral connections. .
The heritage tourism market covered in this report is segmented –
1) By Type: Cultural Heritage, Natural Heritage, Intangible Heritage
2) By Accommodation: Farm Stays, Cottage Rentals, Eco-Lodges, Homestays
3) By Age Group: 30 And Under, 31 To 50, 51 To 70, 71 And Above
4) By Booking Channel: Online, Offline
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Regional Insights –
Asia-Pacific was the largest region in the heritage tourism market in 2023. Middle East is expected to be the fastest-growing region in the forecast period. The regions covered in the heritage tourism 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, Booking Holdings Inc., Expedia Group Inc., Carlson Wagonlit Travel (CWT), Airbnb Inc., BCD Travel, TripAdvisor Inc., Abercrombie & Kent USA LLC, Intrepid Travel Ltd., Travel Leaders Group LLC, Kesari Tours Pvt. Ltd., Collette Travel Service Inc., GetYourGuide Deutschland GmbH, Tauck, G Adventures Inc., ATG Travel Worldwide B.V., Wanderlust Travel Pvt.Ltd., Exodus Travels Limited, National Geographic Partners LLC, Trafalgar Tours Limited, EF Go Ahead Tours, Heritage Expeditions Ltd., Martin Randall Travel Ltd., ACE Cultural Tours Ltd., Context Travel
Table of Contents
1. Executive Summary
2. Heritage Tourism Market Report Structure
3. Heritage Tourism Market Trends And Strategies
4. Heritage Tourism Market – Macro Economic Scenario
5. Heritage Tourism Market Size And Growth
…..
27. Heritage Tourism Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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