Global Tourism Market Shines with a US$ 22,772.0 Million Spectrum,...

Global Tourism Market Shines with a US$ 22,772.0 Million Spectrum, Aiming for a 14.4% CAGR by 2033

Posted 2024-02-08 10:49:24

As per Future Market Insights, the global cultural tourism market is set to reach US$ 5,931.2 million in 2023. Over the next ten years, sales in the market will rise at 14.4% CAGR. This will take the global cultural tourism market size to US$ 22,772.0 million by 2033.

Growing interest towards exploring different cultures is driving the global market forward. Besides this, increasing affordability due to rising disposable income will boost the market through 2033.

Cultural tourism is emerging as one of the most lucrative tourism markets globally. Cultural tourism and interest in culture among travelers is on the rise. This type of tourism allows tourists to learn and cherish different cultures of the world. Increasing interest of visitors in cultural experiences will elevate demand in the market.

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Growing awareness about various cultural and heritage sites through social media platforms is likely to boost sales. Besides this, integration of advanced technologies and availability of attractive packages will create growth prospects.

Visitors are now offered audio tours to various cultural heritage places, podcasts for cultural sites, and many other experiences. This is bringing diversity to cultural tourism sector.

For instance, Kerala (India) Tourism launched Street Project to enhance experiential tourism market. Its agenda is to take tourism deep into the state’s urban and rural development.

In the first phase, the project would be implemented in the city of Kadalundi which is located in Kozhikode. Then it will be introduced in other cities of the states. With such experiential development toward cultural tourism infrastructure, countries such as India, Germany, France, and Italy, are experiencing a huge number of travelers’ spike from different parts of the world.

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Key Takeaways from Cultural Tourism Market:

Cultural tourism market is forecast to reach US$ 5,931.2 million in 2023.
Global demand for cultural tourism is likely to rise at 14.4 % between 2023 and 2033.
By age group, 16 to 25 category will generate the most revenue in the market.
By tourism type, edutainment segment is likely to hold a prominent share by 2033.
Online booking channels segment will witness most cultural tourism bookings.
Thailand cultural tourism market is set to exhibit a robust CAGR over the next ten years.
Cultural tourism demand across Italy is forecast to surge at a healthy pace through 2033.

Who is Winning?

Leading players in cultural tourism market are Intrepid, Explore, Exodus Travel, G Adventures, On The Go Tours, and many more. These companies are introducing new attractive tour packages to woo more and more customers.

Key Companies Profiled

Intrepid
Explore
Exodus Travel
G Adventures
On The Go Tours
Others

Get More Valuable Insights

Future Market Insights, in its new offering, provides an unbiased analysis of cultural tourism market, presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.

The study divulges compelling insights on cultural tourism by direct suppliers (airlines, hotel campaigns, car rental, trains, tour operators), indirect suppliers (online travel agency, traditional travel agencies, travel management companies, corporate buyers, aggregators), and number of bookings (by age, by demographic, by nationality, by booking channel, by visitors type, by tour type, by tourism type), across several countries.

Global Cultural Tourism Market by Category

By Direct Suppliers: