The global geotourism market size is expected to be worth USD 737 billion by 2023. In the long-term, geotourism is estimated to reach around USD 1,258.9 billion by 2033. The market would exhibit a CAGR of 5.5% from 2023 to 2033.
Strategic collaboration between direct and indirect suppliers has made way through advancement of combined resources and partners. Strategic collaborations between direct suppliers in the industry have paved the way for innovation.
It was held on the back of combined resources of such partners. There is a transactional and operational relationship between direct and indirect suppliers. These services and deliveries would become more dependable by 2033.
Both the factors would help the global market to rise steadily in the next ten years. These would also contribute to less risk management and performance outlook. Hence, it would be easy for key players in the market to strategize how they want to spend.
Geotourism is set to be an integral part of the overall sustainable development of numerous regions worldwide. There are several countries equipped with geo-touristic places.
Iceland for instance, is a location where the recent eruptions are situated. It is a clear example of geo-tourism. It has sustainability in the form of a volcano that is coming across as a popular destination for tourists.
It is meant for those interested in seeing this unique volcano. It is turning the ancient ruins into a sustainable geo-tourism marvel. It is also contributing in increasing local economy with a high count of visitors.
Stewardship limits expansion to manageable levels and steers it to places of interest. It sets up well-known attractions located in the area. Geotourism preserves resources that are frequently harmed by well-intentioned visitors.
Its dedication to promoting tourism ‘beyond the guidebook’ reduces adverse effects. These include overcrowding and pollution.
Locals gain from the promotion of neighborhood resources and services. Visitors are served by the education of locals and their appreciation of their own communities.
| Attribute | Key Insights |
|---|---|
| Estimated Geotourism Market Size (2023E) | USD 737 billion |
| Projected Market Valuation (2033F) | USD 1,258.9 billion |
| Value-based CAGR (2023 to 2033) | 5.5% |
| Collective Value Share: Top 5 Countries (2022A) | 15% to 20% |
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Geotourism is a sector that has been developed over the years. It is yet to be developed. Numerous people are taking interest in ‘geological wonders’ in the form of mountains, caves, or old fossils.
Based on research and observation, there is an interpretation of challenge in this sector and the market. It is inclined toward the protection of geological heritage and emphasis on edutainment.
Geotourism is a segment of natural tourism spreading worldwide. It is accompanied by the need for sustainable usage and development of natural heritage sites.
Creating more awareness toward it would also bolster demand. New ways of interpretation can be implemented to develop the geo-tourism market.
Initiatives by the local and central government would propel the global market. Geotourism attractions will soon reach a level of complete awareness. It is attributed to the push of tourist boards.
Infrastructure development and promotional strategies will be high on speed. With that, it is going to be a preferable form of tourism for both the domestic and international markets. The geotourism market witnessed a CAGR of around 8.9% in the historical period from 2018 to 2022.
Transformation of Cities into Geotourism Sites to Boost Demand
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| Country | China |
|---|---|
| Market Share (2023) | 5.8% |
| Market Share (2033) | 4.9% |
| BPS Analysis | (-) 90 |
| Country | Spain |
|---|---|
| Market Share (2023) | 3.9% |
| Market Share (2033) | 4.5% |
| BPS Analysis | (+) 60 |
| Country | India |
|---|---|
| Market Share (2023) | 7.2% |
| Market Share (2033) | 8.7% |
| BPS Analysis | (+) 150 |
Development of Geo-Parks in Serbia to be Fruitful for Tour Agencies by 2033
Geotourism is putting a focus on the conservation of diverse geological locations. Companies are then promoting it to overall tourism attractiveness. They would also focus on the potential it carries for development.
While geo-tourism has witnessed considerable growth worldwide, most of it can be seen in Serbia. Government agencies are planning to increase the count of geo-parks, especially in rural areas.
These parks would be one of the main sources of income for rural and underdeveloped areas. It is also creating local economic growth in rural areas.
For instance, around 2 decades ago, Knjazevac came under a rural area. There was development mostly in the urban area. But, in recent times, local government of the area has pointed out that tourism holds ground for local development of the area.
It led to fast tourism development and several new job creations. As a result, locals were participating in new activities, which gave rise to economic benefits.
Australia to Open Door to Geo-tourists with the Launch of New Geo-parks
Geotourism is taking directions forward with geo-park in Australia. It has been rising and gaining popularity for a decade now. Creation of geological places could be managed sustainably for geo-heritage protection.
These could be used for educational purposes or research. They would ultimately create new jobs in the market.
There has been an agreement with the United Nations Educational, Scientific and Cultural Organization (UNESCO) recently. In this, experts of an advisory group came forward for site planning and infrastructural development. They are planning development of Australia and its neighboring countries.
Execution of establishing geo-parks by interested Australian parties has already begun. It will enhance policies and future direction for establishment of geotourism infrastructures.
Government Initiatives in India to Fuel Geotourism Activities by 2033
The government of India has taken initiative toward reforming geotourism through technology. The Geological Survey of India has taken an initiative to enlist a few local monuments as geological monuments. With the help of a tourist map of India, tourists can now select from all the 90 sites available with detailed descriptions.
For instance, Gangani, also called the Grand Canyon of Bengal in West Bengal, India, is a very popular site. When people go there, they have enough information and description regarding the geography.
They will also have enough knowledge about the site due to adoption of digital maps. It is helping tourists to find the most popular geo-tourist site for their visits. It is also contributing to the preservation of geo-tourism resources.
High Pressure of Studies to Propel Students between 16 to 25 Years to Opt for Geotourism Activities
Geotourism is something that sparks the interest of everyone, be it any age group. Students and children from the age group of 16 to 25 prefer to travel to geological tourist sites.
This age group has a curious mind. Children and students from all across the world are nowadays turning to visit geotourism sites.
Need to escape the overwhelming pressure of studies is one of the key factors pushing this age group to opt for geotourism. Friendship and relaxation are a couple of other factors behind such a surplus amount of participation from them.
Online Geotourism Sites to Gain Impetus among Tourists for Booking Purposes
Geotourism is an area that is highly unexplored yet. There has been significant growth in the travel count for geotourism for both domestic and international travelers.
Internet is one of the preferred mediums when it comes to gathering information. When there is less time available, online booking channels are the ideal choice. These are also relatively low-cost than other types of booking channels for travel.
With advancement of information technology, people are becoming more aware. They are looking for value creation of their time and money. They prefer special packages, personalized timetables, and easement of booking at home. After gathering all the information regarding the visit, stay, and accommodation with travel agencies such as Expedia, people tend to prefer online channels. In these channels, the refund and cancellation process is also very prompt.
Domestic Tourists to Prefer Sustainable Tourism with High Demand among Millennials
Millennials have aligned their goals of travel with recent trends in the market. Huge part travel that includes visiting geotourism sites involves domestic travels.
Percentage of domestic travelers visiting geotourism sites is 62.6% globally. It remains 37.4% in terms of international travelers count. It shows that in comparison to overseas travel, domestic travel is preferred more.
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There have been several players in the geotourism industry. They are presenting numerous strategies to capture a significant market share. The global market has a highly competitive landscape.
To make the process smooth, connected systems have been implemented with companies such as McLennan. It would help in the optimization of data in real-time. It is hence replacing all the handwritten data and avoiding the chaos.
Support channels of suppliers are pacing up worldwide. They are collaborating well with direct suppliers. Key players in the market are aiming to promote and boost tourism. Their strategies are getting implemented productively.
For instance,
| Attribute | Details |
|---|---|
| Estimated Market Size (2023) | USD 737 billion |
| Projected Market Valuation (2033) | USD 1,258.9 billion |
| Value-based CAGR (2023 to 2033) | 5.5% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | Value (USD billion) |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Russia, India, China, Japan, Malaysia, Singapore, Australia, United Arab Emirates, Kingdom of Saudi Arabia, Italy, Qatar, Oman, Rest of the World |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East and Africa |
| Key Segments Covered | By Direct Suppliers, By Indirect Suppliers, By Number of Bookings(Age, Demographic, Nationality, Booking Channel, Tour Type, Tourism Type) |
| Key Companies Profiled | National Geographic Expeditions; Gondwana Eco Tours; Seacology; Myths and Mountains; Global Basecamps |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Market Dynamics and Challenges, and Strategic Growth Initiatives |
North America is growing rapidly due to the growing demand for the automotive industry, which is the largest consumer of IoT connectivity management platforms. The automotive industry is using IoT connectivity management platforms to connect and manage a wide range of devices in vehicles, such as sensors, actuators, and infotainment systems.
The Geotourism market CAGR for 2033 is 5.5%.
Asia-Pacific is the leading region in the geotourism market.
The projected market value of the market for 2033 is USD 737 billion.
Key players are developing the market by: Investing in sustainable tourism practices Developing new geotourism products and experiences Partnering with local communities
1. Executive Summary | Geotourism Market 1.1. Global Market Outlook 1.1.1. Who Is Travelling? 1.1.2. Travel Gross Bookings 1.1.3. Travel Gross Revenue 1.1.4. How Much Do They Spend? 1.2. Evolution Analysis 1.3. FMI Analysis and Recommendations 2. Growth Parameters in 2.1. Emerging in urban space is gaining popularity 2.2. Sustainable is emerging as a key trend in the market 2.3. Establishment of geo-parks is contributing to local economic and sustainable development 2.4. Australia promoting UNESCO Global parks for sustainable development in Australia Pacific region 2.5. India on the verge of implementing digital maps for easy access for sites 2.6. Converting diverse geological locations into geo-parks to generate employment in rural areas 3. Supply to Demand: Today’s Travel Distribution Network 3.1. Direct v/s Indirect Distribution 3.2. Travel Gross Revenues, by Channel, 2022 3.2.1. Supplier Direct 3.2.2. Travel Management Companies (TMC) 3.2.3. Tour Operator 3.2.4. Online Travel Agency (OTA) 4. Direct Suppliers in 4.1. Total Supplier Market, Share by Segment (%), 2022 4.1.1. Airlines 4.1.2. Hotel Companies 4.1.3. Train 4.1.4. Tour Operators 4.1.5. Government Bodies 5. Indirect Suppliers in 5.1. Online Travel Agency (OTA) 5.2. Traditional Travel Agencies 5.3. Travel Management Companies (TMCs) 5.4. Corporate Buyers 5.5. Aggregators 6. Number of Bookings, 2022 6.1. By Age 6.1.1. Under 15 6.1.2. 16 to 25 6.1.3. 26 to 35 6.1.4. 36 to 45 6.1.5. 46 to 55 6.1.6. Over 55 6.2. By Demographic 6.2.1. Male 6.2.2. Female 6.2.3. Kids 6.3. By Nationality 6.3.1. Domestic 6.3.2. International 6.4. By Booking Channel 6.4.1. Phone Booking 6.4.2. Online Booking 6.4.3. In-Person Booking 6.5. By Tour Type 6.5.1. Individual Travel 6.5.2. Professional Groups 6.5.3. Group Travel 6.6. By Tourism Type 6.6.1. Sustainable 6.6.2. Urban 6.6.3. Rural 6.6.4. Natural Tourism 6.6.5. Eco 6.6.6. Others 7. Country Shift, Key Countries in Focus, 2022 8. Gross Revenue 8.1. Gross Revenue (USD billion) and Forecast (2023 to 2033) 8.2. Number of Bookings (billion) and Forecast (2023 to 2033) 8.3. Total Spending Y-o-Y Growth Projections (2023 to 2033) 8.4. Number of Tourists Y-o-Y Growth Projections 9. Challenges & Looking Forward 9.1. Success Stories: Case Studies 9.2. FMI Recommendations 10. Market Stakeholders Landscape - Key Direct Suppliers 10.1. Airlines 10.2. Hotel Companies 10.3. Trains 10.4. Tour Operators 10.5. Government Bodies 11. Social Media Sentimental Analysis 11.1. Travel Influencers: A new Phenomenon in the world of Tourism 11.2. Social Media Platforms Preferred 11.3. Trending #Hashtags 11.4. Social Media Platform Mentions (% of Total Mentions) 11.5. Trending Subject Titles 12. Assumptions and Acronyms Used 13. Research Methodology
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Geotourism Market
