Global Cultural tourism Market, By Type (Domestic Cultural Tourism and International Cultural Tourism), Category (Cultural Eco-Tourism, Indigenous Cultural Tourism, and Socio-Cultural Tourism), Travel Type (Business Travel, Leisure Travel and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029.
Market Analysis and Insights of Cultural Tourism Market
The cultural tourism market is expected to be growing at a growth rate of 11.2% in the forecast period of 2022 to 2029 and would likely to reach an estimated value of USD 12324.33 million by end of the forecast period. Data Bridge Market Research analyses the factors responsible for fostering the growth of cultural tourism market which is currently being growing due to rise in the travel and tourism to unique destinations.
Cultural tourism is a type of tourism activity in which the primary motivation of the visitor is to learn, discover, experience, and consume tangible and intangible cultural attractions/products in a tourism destination. These attractions/products are related to a set of distinct material, intellectual, spiritual, and emotional characteristics of a society, which includes arts and architecture, historical and cultural heritage, culinary heritage, literature, music, creative industries, and living cultures with their lifestyles, value systems, beliefs, and traditions.
Increased interest in exploring wildlife, coral reefs, and pristine undisturbed natural areas is a critical factor responsible for market growth. An increase in the focus on sustainability and an increase in the market's research and development activities, among other factors are also driving the cultural tourism market. Furthermore, an increase in demand from emerging economies will create new opportunities for the cultural tourism market during the forecast period. Rise in personal disposable income as well as overall growth in infrastructure will further contribute towards the market growth of global cultural tourism market.
However, the rise in the cost of research and development activities in the market is one of the major factors that will hinder market growth and will further challenge the growth of the cultural tourism market during the forecast period. Stringent regulations laid down by the authorities after the covid-19 impact will further hinder the growth of the cultural tourism market.
This cultural tourism market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on cultural tourism market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth. Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Cultural Tourism Market Scope and Market Size
Cultural tourism market is segmented of the basis of type, category and travel type. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of type, the cultural tourism market is segmented into domestic cultural tourism and international cultural tourism
- On the basis of category, the cultural tourism market is segmented into cultural eco-tourism, indigenous cultural tourism, and socio-cultural tourism
- On the basis of travel type, the cultural tourism market is segmented into business, leisure and others.
Cultural Tourism Market Country Level Analysis
The cultural tourism market is analysed and market size insights and trends are provided by country, type, category and travel type as referenced above.
The countries covered in the cultural tourism market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America region dominate the cultural tourism market and will continue to excel its trend of dominance during the forecast period owing to the increase in the market's focus on sustainability and increase in research and development activities in this region. Asia-Pacific will register the highest CAGR for the forecast period owing to the increase in the number of millennial tourists, increased disposable income and surging infrastructural growth.
The country section of the cultural tourism market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Cultural Tourism Market Share Analysis
The cultural tourism market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to cultural tourism market.
Some of the major players operating in the cultural tourism market are Internova Travel Group, Aracari, Frosch International Travel, SARL Undiscovered Mountains France, Adventure Alternative Ltd, Intrepid Group, Rickshaw Travel Group, Steppes Travel, Australias Guide Pty. Ltd., Envoy Hostel, ACE Cultural Tours, Classic Journeys llc, Exodus Travels Limited., Kudu Travel Limited, Martin Randall Travel Ltd, Nature Quest Ltd, Hopes & Dreams Ltd, Space Island Group, Zero 2 Infinity S.L, and Odyssey World among others.
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