By 2032, the size of the worldwide market for cultural travel is projected to be US$ 559.30 million. The market for cultural travel is expanding quickly.
The global market for cultural tourism is expected to be worth US$ 462.50 million in 2022, according to FMI Analysts, and it is expected to grow at a compound annual growth rate (CAGR) of 6.54% between 2022 and 2032.
The developing tourism arena is flanked by millions of tourists. These tourists are gutsy and they are ready to extend their horizon of knowledge. The cultural travel segment is one such segment of tourism that ushers in a huge pool of tourists who are eager to follow a new path and quench their indomitable thirst for knowledge. Cultural travel is a perfect platform for gaining knowledge about any place.
Most of the culturally rich countries are promoting this extremely rich mode of tourism for the last few years. Cultural tourism is not only feeding the wanderlust of tourists, but it is also a correct medium to preserve some abrogating cultures spread across the globe. Cultural travel is a marriage of the past and present.
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Through cultural travel, countries are not only benefitting their tourism economy, but they are also providing a befitting platform to showcase a particular culture. By curating a proper cultural travel network the cultural branding of a particular property or location can attract immediate media attention.
Recent studies have clearly highlighted the evolving spending pattern of cultural travelers, who spend approximately 37 percent more on their travel than the normal globetrotters. Hotels and luxury properties also earn more as the cultural tourists tend to extend their stay in a cultural locale. The emerging trend of experimental tourism is also redefining the contours of cultural travel.
Cultural Travel: Game Changers
The growth of cultural travel is backed by the all-round development of the tourism industry. The cultural travel sector is also extremely benefitted by the slew of promotional measures doled out by several governments to promote dimming cultures. The emergence of a new army of tourists who are opulent, educated and aged is also providing adequate fodder for the development of cultural travel.
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Cultural Travel: Restraints
The phantom of terrorism is diminishing the global surge towards cultural travel. Several cultures have been badly fractured by the wrath of terror unleashed on them over the last few years. Natural disasters and the swelling number of millennial tourists are also barricading the organic growth of cultural travel as a potential tourism experience.
Cultural Travel: Bigwigs
There are several institutions and travel agencies that organise tailor-made cultural tours. Government aided tours are also organised in different parts of the world with the sole intention of promoting and nourishing a particular culture.
This comprehensive report equips readers with lucid information and analysis on the sector. Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.
Key Players:
- ACE Cultural Tours
- Classic Journeys
- Envoy Tours
- Exodus Travels Ltd.
- Indigenous Tourism BC
- Kudu Travel Ltd.
- Martin Randall Travel Ltd.
- Nature Quest New Zealand Ltd.
- Odyssey World
- Responsible Travel
- Splitrock Environmental
Key Segments Profiled in the Cultural Travel Market
By Type:
- Domestic cultural tourism
- International cultural tourism
By Category:
- Cultural eco-tourism
- Indigenous cultural tourism
- Socio-cultural tourism
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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