Saturday, April 6, 2024
A fresh analysis from Allied Market Research, entitled “Community Based Tourism Market,” delves into the market’s dynamics, offering insights into the most profitable opportunities, effective strategies, driving factors, and potential for growth. It outlines the competitive environment, market size projections, and the evolution of market trends. Highlighting key areas such as market trends, segment analysis, regional outlook, and the strategic landscape under Porter’s Five Forces model, the study indicates a surge from $575.9 billion in 2022 to an anticipated $2136.8 billion by 2032 in the community based tourism sector, advancing at a 14.1% CAGR between 2023 and 2032.
Community-based tourism (CBT), a subset of sustainable tourism, prioritizes local engagement throughout the tourism process, from planning to management, emphasizing cultural preservation, environmental protection, and local empowerment. It offers travelers authentic cultural experiences while ensuring the community’s economic and social well-being. CBT stands out for its potential in poverty alleviation, promoting ethical travel, and fostering a deeper appreciation of diverse cultures.
To bolster community based tourism, governments have initiated several measures aimed at easing tourist access and enriching the destination experience. Public-private partnerships (PPPs) are highlighted as key to enhancing tourism offerings through development projects, research, promotion, and marketing, facilitating substantial contributions to CBT’s transformation.
The report segments the community based tourism market by age (Generation X, Y, Z), traveler type (solo, group), sales channel (travel agents, direct), and region (North America, Europe, Asia-Pacific, LAMEA). Notably, Generation Y leads in market share, drawn to community-centric and wellness travels, seeking authentic interactions. The group travel segment dominates, favored for its cost-effectiveness and the shared bonding experience it offers, while travel agents lead the sales channel segment, credited with crafting personalized travel experiences through their expertise and local partnerships.
Region-wise, Asia-Pacific stands as the predominant and fastest-growing market, credited to its significant millennial population, rising incomes, and robust infrastructure, alongside its rich cultural diversity and attractive destinations. Countries like China, Japan, Australia, and India are noted for their substantial outbound travel.
Key industry players such as G Adventures, Intrepid Travel, Local Alike, Village Ways, Elevate Destinations, Responsible Travel, Community Homestay Network, The Blue Yonder, Wilderness Travel, and WANDERLUST INDONESIA are profiled, highlighting their contributions to the community based tourism industry’s growth and evolution.
Download Full Report @https://www.alliedmarketresearch.com/checkout-final/73935e2c6f8c2cafad91275c4a3268d2
Wednesday, May 1, 2024
Wednesday, May 1, 2024
