Cultural Tourism Industry - Statistics and Analysis 2023-2027
Culture tourism industry is growing bigger as affordability across the globe is increasing significantly. The culture tourism market, as per Technavio analysis, is projected to grow at a CAGR of 20.77% during 2022-2027. This market research statistic predicts market size growth by USD 6600.71 million. There are many factors which contribute to the market growth such as increasing demand for cultural tourism and increasing affordability are some major factors. The projected growth momentum which is positive as per reports, strengthens the position of vendors in the market. Moreover, market and investors get a positive outlook toward market.
Our researchers deduced some market drivers that contribute to the culture tourism market growth considerably. Upon thorough data and information analysis, one of these market drivers is the increasing affordability among people that further helps in the market growth. Apart from these favorable drivers, there are some challenges as well which may affect the market growth negatively. A major challenge that may notably affect the market is impact of the terrorism. Various threats from natural calamities may pose a severe challenge to the tourism industry revenue. If such unfortunate disasters happen, it usually takes 20-24 months for proper recovery that is why entire industry is affected negatively.
Culture tourism market has a competitive landscape and a lot of vendors. Some of the major ones are given following:
- G Adventures
- Indigenous Tourism BC
- Classic Journeys LLC
- Envoy Tours
- Aracari Travel
- Martin Randall Travel Ltd
- Exodus Travels Ltd.
- Geographic Expeditions Inc.
- ACE Cultural Tours Ltd
- Kudu Travel Ltd.
This precisely illustrated statistical data consists of various market information and analysis to get a better understanding of specific market requirement. Moreover, Technavio, also has a holistic subscription platform having lifetime access to the 17,000+ reports at customized plans and rates.
