The Global Special Interest Tourism Market was worth US$ xx billion in 2022 and is anticipated to reach a valuation of US$ xx billion by 2028 and is predicted to register a CAGR of x% during 2023-2028.
This tourism provides travelers a chance to explore passion and allows them to have once-in-a-lifetime experiences. It consists of four main experiences Rewarding, Enriching, Adventuresome Experiences, and Learning Experiences.
Clients with a Special Interest in Tourism are keen to learn more, enhance their knowledge, and express themselves. They show more interest in traveling in an eco-friendly environment and have experience in cultural, social, or environments where they closely associate with the host or local community. The range of special interest tours is enormous, and examples range from spiritual, adventure, and food tourism to military, nostalgia, and lighthouse tourism.
Market Drivers:
The increase in demand for personalization is playing a prominent role in driving the Special Interest Tourism Market. As per Think with Google, nearly 57% of travelers are interested in personalizing their experiences based on their choices, requirements, behavior, and past experiences. Personalization includes providing flexible packages and customization as per the traveler's need.
Many prominent travel companies, trip planners, and advisors are becoming dynamic with the changing traveler’s preferences in offering various services and experiences. This can be a portend to the global Special Interest Tourism market.
Sustainable tourism focuses on protecting the environment, society, and economy. Its principle is mainly to minimize the negative impact while maximizing the positive impacts. Therefore, it is slowly increasing its share in the tourism industry. Increasing concern about the environment and its role in sustainability is projected to raise sales in the Special Interest Tourism Market.
Increased interest in experiencing nature, wildlife, and local culture is driven by sustainability and, in turn, promotes the growth of the Special interest Tourism Market. Environmentally sustainable outcomes are prioritized over common ‘experience’ vacationing due to the change in preferences interrupting the association between the tourist hotspots and local traditions, leading to the new trend.
Market Restraints:
Tourists involved in adventure sports and wildlife tourism are subjected to the safety risk as it involves direct contact with life-threatening objects or creatures. Therefore, people unwilling to take risks or life insurance provided by service providers lead to a decrease in sales of such tourism leading to the negative effect of the growth of the Special Interest Tourism Market.
The Seasonal Nature of Tourism and accessibility to remote and off-beat locations can be one of the major constraints in this market. Certain types of Special Interest tourism depend on the seasons, such as surfing and spirituality, resulting in few off-season visitors. Limited infrastructure in having accessibility to some remote locations for adventure sports, heritage sites, wildlife reserves, or for knowing the local tribal culture act as restrain in developing the Special Interest Tourism Market across the globe.
The above restraints, combined with the lack of awareness among the customers of Special Interest Tourism activities or packages, result in low demand and hinder the development of the Special Interest Tourism Market.
Market Opportunities
The expansion of agritourism is an emerging opportunity that can contribute to significant growth and the expansion of the Special Interest Tourism Market. This is due to increased interest and awareness about agriculture. Agritourism means urban tourists go to the villages, stay with farmers, engage in farming activities, experience authentic food, traditional clothes, and local culture, and buy fresh farm food sold by farmers at a better price.
Agritourism created a win-win situation for the farmers and tourists, and the government accepted it with open arms and provided many development opportunities to boost its market expansion. These motivations are a key factor in increasing sales by conversion of non-traveler to travelers and maintaining existing customers. The government's involvement in a campaign focused on shifting global promotions to a specific type of vacation and promoting special interest tourism products using popular digital media.
Market Key Developments:
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REPORT METRIC |
DETAILS |
|
Market Size Available |
2022 – 2028 |
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Base Year |
2022 |
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Forecast Period |
2023 - 2028 |
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CAGR |
xx% |
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Segments Covered |
By Purpose, Tourist Type, Traveller, and Region. |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
The Cultural Travel Company, Audley Travel, Trafalgar, Myths and Mountains, Martin Randall Travel Ltd., Carlson Wagonlit Travel, National Geographic Expeditions, Flight Centre Travel Group, The Priceline Group, ACE Cultural Tours, and Others. |
Market Segmentation
The activity segment is ruling with the dominant shares of the market. The present 15-25 age group is the major driving factor for the segment to grow. Travelers of this age group are more interested in adventurous activities, sports, and cycling that are challenging. So, it is expected that challenge-type special interest tourism may have a good market share in Special Interest Tourism Market.
Domestic travel will contribute a major share of the overall market during the projected period. Concerning the customer’s duration of travel and the economic conditions of the tourist are factors contributing to the segment's growth in the Special Interest Tourism Market. International tourists have regained their normal state after the liberalization of the restrictions on travel.
During the forecast period, travelers prefer individual and small-group travel types. Increased travel safety provision by travel agents, time availability, and psychological status of people are attributes of this segment that may affect the Special interest Tourism Market.
Market Regional Analysis:
The Global Special Interest Tourism Market Report includes the segmentation of regions:
Europe is expected to have good potential in the Special Interest Tourism Market. The prime reason is the expansion of the tourism industry in France and the UK. The US has many tourist places like Los Angeles and New York that witness many tourists across the globe and may have an inflow of 90 million visitors per year by the end of 2023. So, the US is also expected to have a good shareholding in the segment.
COVID-19 has noticeably devastated the tourism sector. It was observed decreasing sales due to increased restrictions on travel and stringent safety measures imposed by the government. To revive the normal stage, the government is focusing on adopting advanced strategies to stabilize the economy after the COVID-19 pandemic. The government shows special interest in promoting activities across the Special Interest Tourism places. The increased concern over the safety of the tour after the COVID-19 pandemic has increased significantly, which caused new changes in the Special Interest Tourism market regulations. Travel agents also give more importance to the safety of their customers by providing different packaging options that prevent the spread of the pandemic during service usage.
Market Key Players:
Frequently Asked Questions
The expansion of agritourism is an emerging opportunity in the Special Interest Tourism Market.
The Cultural Travel Company, Audley Travel, Trafalgar, Myths and Mountains, and Martin Randall Travel Ltd are key players in the market.
Europe region is expected to have high potential in the Special Interest Tourism market.
The challenge segment is expected to grow in the market.
The Seasonal Nature of Tourism and accessibility to remote and off-beat locations can be major constraints in this market.
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