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With increased environmental awareness, the global tourism industry is experiencing a paradigm change. As a result, industry leaders are promoting sustainable, unadulterated, and pristine destinations as a way to attract visitors, propelling the growth of the ecotourism industry. The committed stakeholders' primary goal is to preserve natural resources while still attracting large groups of visitors with minimal environmental effects. The growing consumer trend of green tourism is also catalysing the market growth, with traveller increasingly preferring visiting places like national parks, bird sanctuaries, and archaeological sites rich in biodiversity. Some of the popular destinations within the ecotourism industry are Costa Rica, South Africa, Galapagos Islands, Peru, and Belize. Governmental support is also helping the industry to strive in major ecotourism destinations. For instance, in Kerala, India, the ecotourism industry works in conjunction with the local forest departments, with the state having multiple ecotourism centres catering to the industry.
In the coming years, the market growth is expected to be propelled by the growth of sustainable hotels. Hilton, one of the biggest hotel chains, has multiple eco-friendly and sustainable locations, such as its Hilton Lake Taupo, New Zealand location. Major mergers and acquisitions by the key players involved in the industry to increase their footprint and enhance their capabilities are expected to further propel the industry growth. Between January to July 2020, Frosch International Travel acquired Illinois-based CorpTrav. and Irvine, Calif., and Boca Raton, Fla. headquartered, Luxe Travel. Such developments are expected to propel the market growth in the forecast period.
Market Analysis by Traveller Type, Age Group, Sales Channel, and Region:
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Aracari Travel, Frosch International Travel, Undiscovered Mountains, Intrepid Group, Rickshaw Travel Group, Small World Journeys, and Adventure Alternative Ltd, among others are the key players in the global ecotourism market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.
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