SAVE Tourism Market Size, Trends, Opportunities, Innovations & Forecast till 2026
According to a new report published by KD
Market Insights titled, “SAVE
Tourism Market by
Type, and Sales Channel: Global Opportunity Analysis and Industry Forecast,
2019–2026," the global SAVE tourism market size was valued at $69.5
Billion in 2018, and is projected to reach $106.9 Billion by 2026, growing at
a CAGR of 5.8% from 2019 to 2026. In 2018, Europe accounted
for nearly 41.7% share of the SAVE tourism market.
The growth in value sales for such products is
attributable to the surge in demand for education and exploration of
geographical horizons, which facilitate easy life for its target customers.
Some SAVE tours that attracts the customers include Agro-cooking, educational,
scientific expeditions, volunteering for a cause, and academic visits. SAVE
tourism is an innovative entry in the tourism market and offers different types
of tours providing different purposes. These tours thus witness higher rate of
demand among the science studying customers and visiting faculties of academic
institutes who desire to explore new regions all the time.
The SAVE tourism industry has been evolving in
terms of its demand and purpose of tours. Travel agencies focus on places where
volunteers are needed and organize tours especially for the volunteers. For
instance, in the case of natural calamities travel agencies organizes tours for
volunteers to take them to the calamity hit places and help the people. Some
agencies organize special tours targeting the scientific expedition in the
rarely explored areas such as Antarctica glaciers and remote places like Amazon
forests.
There is an increase in the awareness for
nature conservation and environment care among most of the people residing in
the developed as well as the developing countries around the globe. This has
led travelers to indulge in various types of activities, such as pollution
control campaigns, spreading awareness about the conservation of nature and
natural resources, and other environment friendly activities. Among these
environment friendly consumers, there are a set of consumers that have taken
their nature care and environment awareness to the next level by indulging into
organizing various campaigns and programs spreading awareness amongst the
people all around the world. This results in demand for such programs from
various NGOs around the world, and other organizations involved in the same
work also invites such people in their countries to spread awareness about the
nature and environment.
The SAVE tourism market has witnessed higher
adoption from travelers in North America as well as Europe. However, there is
lack of awareness of this concept in some of the major parts of Asia-Pacific as
well as LAMEA, which is attributable to some of the low performing
macro-economic factors. Thus, lack of awareness of such tours results in lower
value share in the global SAVE tourism market. This in turn limits the SAVE
tourism market growth.
There has been an increase in number of
travelers in various social media sites with the rise in internet penetration.
Taking this into consideration, most of the organizations active in the
community wellness and agencies involved in the market strategize on promoting
such special tours on these social media platforms. Thus, through social media
marketing strategy, the global SAVE tourism market demand sights critical
opportunity in gaining traction and eventually increase its reach among its
target customers.
According to Shankar Bhandalkar, Team Lead,
Consumer Goods at KD Market Insights, “The SAVE tourism companies have been
making the most out of online platform. With the rise in rate of internet
penetration, companies and tour operators are stressing on key social media
marketing activities and online booking platforms.”
Key Findings of the Study
- In 2018, based on type, the academic tours
segment accounted for around 35.1% SAVE tourism market share, growing at a CAGR
of 6.2% from 2019 to 2026.
- In 2018, based on sales channel, the online segment accounted for 10.0% share of the SAVE tourism market is expected to grow at the highest CAGR of 11.6% during SAVE tourism market forecast.
- In 2018, based on region, Asia-Pacific accounted for a prominent SAVE tourism market share and is anticipated to grow at a CAGR of 8.5% throughout the SAVE tourism market analysis period.
- In 2018, based on sales channel, the online segment accounted for 10.0% share of the SAVE tourism market is expected to grow at the highest CAGR of 11.6% during SAVE tourism market forecast.
- In 2018, based on region, Asia-Pacific accounted for a prominent SAVE tourism market share and is anticipated to grow at a CAGR of 8.5% throughout the SAVE tourism market analysis period.
The key players profiled for
SAVE tourism industry include ABTA Ltd., ATTITUDE HOSPITALITY LTD. (AHL),
Bookdifferent, Caribtours Ltd., Deutsche Gesellschaft für Internationale
Zusammenarbeit (GIZ) GmbH, Fair Trade Tourism, Four Communications, NECSTouR,
Responsible Vacation, The travel foundation, Tui Group, and we-are.travel GmbH
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