http://www.itij.com/latest/news/sustainable-tourism-market-reach-114-trillion-globally-2032
The global sustainable tourism market was valued at $3.3 trillion in 2022.
It is projected to reach $11.4 trillion by 2032, with a CAGR of 14% from 2023 to 2032.
The market growth is driven by the demand for environmentally friendly tourist destinations and experiences.
Higher costs and lack of understanding of sustainable tourism may hinder market growth.
Rising environmental consciousness among younger generations presents opportunities for market expansion.
Coastal tourism held the highest market share in 2022, while island tourism is expected to have the highest CAGR.
The family segment dominated the market in 2022, while solo tourism is projected to have the highest CAGR.
Millennials held the highest market share in 2022 and are expected to have the highest CAGR.
The Asia-Pacific region had the highest market share in 2022 and is expected to witness the fastest CAGR.
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