The Sustainable Tourism Market is expected at US$ 1.9 billion in 2027, the market is expected to exhibit a compound annual growth rate (CAGR) of 23.2%, between 2022-2027.

The Sustainable tourism is tourism that fully takes into account its current and future economic, social and environmental impacts, meeting the needs of visitors, industry, the environment, and host communities. Tourism can involve major transportation to the general location, local transportation, lodging, entertainment, recreation, food, and shopping. This can be related to travel for pleasure, business, and what is known as VFR (visiting friends and family). There is currently a broad consensus that tourism development must be sustainable. A 2017 report by the United Nations World Tourism Organization found that although some countries and industry sectors are creating initiatives for tourism to achieve the SDGs, knowledge sharing, financing, and sustainable tourism policy do not fully meet stakeholder needs.

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Market Drivers and Restraints:

In large part, the sense of responsibility towards the environment, coupled with the socio-economic well-being of local societies among tour operators, is driving the demand for sustainable tourism around the world. Other factors that trigger the need and demand for the sustainable tourism segment include a growing awareness of securing the natural and traditional habitat of the destination in question, as well as a shift in the mindset of many travelers compared to traditional travel concerns such as price, the brand, quality, and suitability for dealing with social, cultural, and environmental problems that are important to vacation spots.

Vacationing in places with an abundance of natural habitats and ensuring respect for the environment is becoming an emerging trend among tourists in their sustainable travel; travelers enjoy the ecstasy of a place's natural habitat without causing a nuisance to the local plant, animals, and bird species or human settlements.

Market Segmentation:

Sustainable Tourism Market - By Type:

Introduction
Consumables
Software
Services
The Sustainable Tourism Market segmentation for Type can be divided into International and Domestic. While this segment has a significant market share, it is expected to show a decline in its share over the forecast period, as developing countries increasingly focus on sustainable international tourism due to foreign exchange earnings.

Sustainable Tourism Market - By Region:

North America
Europe
Asia Pacific
Latin America
Middle East & Africa
The Market for Sustainable Tourism has been categorized on the basis of geography to offer a clear understanding of the global market; the world Market for Sustainable Tourism has been studied in four regions: North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa.

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Impact of covid-19 on the Sustainable Tourism Market:

The COVID-19 pandemic has forced the tourism sector to focus on resilience, sustainability, and interdependence among the various actors in the sector. UNWTO recently issued strategic directions for a responsible recovery of the tourism sector, recommending ways to support a responsible recovery from the current situation and build better tourism. Throughout the COVID-19 pandemic, the world has witnessed a dramatic decrease in CO2 emissions, especially in the transportation industry, including tourism-related transportation. Due to COVID-19, there was an unprecedented 65% decrease in the number of international tourists in the first half of 2020 compared to 2019. Countries around the world have closed their borders and introduced travel restrictions in response to the pandemic. The situation is expected to gradually improve in 2021 depending on the lifting of travel restrictions, the availability of the COVID-19 vaccine, and the return of traveler confidence.

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