Increased travel and tourism to unique natural destinations and increased focus on sustainability drive the segment globally
According to a report by Allied Market Research, the global ecotourism industry generated $ 181.1 billion in 2019 and is projected to accumulate $ 333.8 billion by 2027, representing a CAGR of 14.3% between 2021 and 2027.
The rise of travel and tourism to unique destinations, the inclination towards exploring wildlife, coral reefs and undisturbed wilderness areas, and the increased focus on sustainability are driving the global ecotourism market. However, the low availability of accommodation and the limited availability of quality and hygienic restaurants in the destinations hamper market growth. On the other hand, public-private partnerships in the form of subsidizing air routes to remote tourist destinations, improving transport capacities and facilitating access, create new opportunities in the coming years.
By age group, the Generation Y segment accounted for the largest share in 2019, accounting for nearly three-fifths of the global ecotourism market, and is expected to maintain its leadership position over the forecast period. This is due to the preference for investing in unique experiences and high environmental awareness. However, the Gen Z segment is expected to witness the highest CAGR of 15.6% from 2021 to 2027. This is attributed to improved online channels and digital marketing strategies to attract customers and experiences. social, interactive and unique that travelers are looking for.
North America will grow with the fastest CAGR
Based on the region, North America is projected to witness the highest CAGR of 16.2% during the forecast period, due to the large number of environmentally conscious travelers and the rapid adoption of digital means to search and travel to new destinations. However, Asia-Pacific had the largest share in terms of revenue in 2019, accounting for almost two-fifths of the global ecotourism market, and will maintain its dominance in terms of revenue by 2027. This is attributed to the presence of a large number of millennial travelers. supported by rising disposable income and expanding infrastructure.
Future
development Sustainable tourism must be based on projects whose objectives are in accordance with the three variables of sustainability (economic, environmental, socio-cultural). If the project is managed effectively, the results are optimal and the desired objectives are achieved through the lowest possible cost, providing benefits to all those involved. In addition, the implementation of projects allows, through its control, to detect possible problems early for their later solution, to carry out a diagnosis of the current situation and a description of the situation to be reached after the closure. A project allows you to know what work should be done, how, when, who should participate, what should be controlled to ensure the achievement of the objectives.
Concluded, the project will be a precedent for future work, it is in this closing stage where it is sought to prepare documents with the final results such as: files, directories, evaluations, lessons learned. Bearing in mind that sustainability is a process, it is not achieved only when a project is concluded, but is built on continuous work.
It must be ensured that all the actors involved, whether from the public or private sector, organizations or people who will be affected or benefited by the development of the project, intervene in this process.
On the other hand, tourism, especially in Latin American and Caribbean countries, makes use of international cooperation (aid modality that consists of granting resources in order to support economic and social development), whether technical or financial. These resources are mostly channeled through projects, which are more likely to be accepted if they are part of a program and they respond to a national, regional or municipal plan.
For these reasons, proceeding through the management of sustainable projects is a path that can ensure the strengthening of tourism, better environmental conditions and a better quality of life for communities.
