Ecotel Tourism Market is Estimated to Reach US$ 470 Billion in 2022
As per a recent market analysis by Future Market Insights (FMI), the Ecotel Tourism industry market is poised to reach a valuation of US$ 470 Billion in 2022. Sales are projected to increase at a 12 % CAGR in the forecast period.
Investment in eco-hotels is a worthwhile endeavor because a vast market exists for the service. Consumers are willing to play their part in global sustainability. However, the degree to which they are willing to do it depends on their income bracket as well as the part of the world where they come from. Economic recoveries in a series of European and developed nations have caused more consumers to exercise caution in their expenditure.
Numerous hotels have realized the importance of eco-friendliness and have opted to meet this sustainability need among consumers. As a result, hotel rating agencies now differentiate between environmentally friendly hotels and those that are not through certain mechanisms.
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The Ecotel Tourism industry is increasingly adopting green strategies as part of its corporate strategy. This need stems from the realization, among hotel owners, that they have a part to play in making the world more sustainable. Perhaps another key driver that is primarily responsible for this move is the response to customer needs. Buyers, now more than ever before, are aware of man’s impact on the planet.
- The Global Ecotels Tourism industry will grow with a CAGR of 12 % in the forecast period 2022 – 2032.
- APAC holds the highest shares in the global ecotels tourism
- The demand for the global ecotels tourism industry will rise in the forecast and will be driven by the shift in consumer choice to luxurious travel, experience, and comfort, a surge in per capita income, and better standards of living.
- Although the demand for global ecotel tourism is rising some difficulties will restrain the growth of the global ecotel tourism industry world like high tariffs and prices.
- Based on the tour type, the international tourist segment will remain high over the forecast period.
- 80% of the total global ecotel tourism market was affected by COVID-19.
- After APAC, Europe is the biggest market with a global share of 25% and North America with 21%.
“The advanced technology and the continuous rise in demand for ecotels will boost its market in the forecast period.” – FMI Analyst
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Impact of COVID-19 on Global Ecotels Tourism market
The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the hospitality market in 2020 as governments globally imposed restrictions on domestic and international travel limiting the need for services offered by these establishments. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing.
Hotels are using technologies that are transforming the customer experience. Some technologies are leading to significant improvements and savings in the hospitality market. The most significant trends in this market are the use of near-field communication (NFC) technology, infrared technologies, and robots. NFC gives users the ability to exchange data between devices, making mobile payments an instant, secure process. Infrared sensors are used in hotels to address customer complaints involving housekeeping interruptions. Hotels are also using robots to deliver amenities to guest rooms and for many other functional purposes. Hotel operators are investing in systems and technologies that can automate processes and personalize the experience for guests
Who is winning?
Leading players in Global Ecotels Tourism are focusing on promotional strategies and organizing meetings in various regions to improve sales in the market.
Major players present at the congress Market Swart, Jetwing Surf, Garonga Safari Camp, El Nido Resorts, Soneva Kiri, Kachi Lodge, Three Camel Lodge, Pacuare Lodge, Bambu Indah, Karinji Eco Retreat, Rewa Lodge, Mashpi Lodge, among others.
Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of the Global Ecotels Tourism market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the by Booking Channel (Phone Booking, Online Booking, and In-Person Booking), Tour Type (Domestic & International), By Tourist Type (Independent Traveler, Tour Group, and Package Traveler), By Consumer Orientation (Men, Women, and Children), By Age Group (15-25 Years, 26-35 Years, 36-45 Years, 46-55 Years, and 66-75 Years) & Region.
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