Market players are focusing on designing unique packages in order to gain competitive edge amid the rising competition.
DUBAI, UAE / ACCESSWIRE / January 18, 2021 / As per FMI's latest report, special interest tourism or (SIT) market is slated to record an exponential CAGR of 22.4% amid 2020-2030. The demand for special interest tourism is anticipated to surge significantly in post pandemic period. While the crisis exposing vulnerabilities of the tourism sector, market player are focusing on sustainable tours & travels, thus giving thrust to the market growth.
"Governments across the world are implementing several strategies to revive tourism sector as economies get back to normalcy following COVID-19 outbreak. Strong focus on SIT is noted, as governments engage in encouraging special activities all over tourism destinations" states the FMI analyst.
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Special Interest Tourism Market - Important Highlights
- Online booking channel is likely to gain traction, while in-person booking channel remain lucrative.
- Environmental activity is anticipated to witness high demand, also demand for adventure tourism is projected to increase progressively.
- Activity will remain prominent purpose motivating travelers to choose for SIT market.
- The U.K. and France will propel Europe's tourism industry growth and led the special interest tourism market
Special Interest Tourism Market - Drivers
- Growth of agritourism is offering lucrative prospects for special interest tourism expansion.
- A rising number of travelers reflecting keen inclination on traveling more sensibly, prospects for SIT growth are likely to ascend.
- Rising focus on sustainability will remain key driver of SIT market.
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Special Interest Tourism Market - Restraints
- All destinations have their own limitations while offering tourism related services, constraining the growth of the market.
- Special interest tourism as a tourism product cannot claim destination exclusivity, impacting negatively the market growth.
COVID-19 Impact on Special Interest Tourism Market
The special interest tourism market growth has been hugely affected owing to unprecedented COVID-19 outbreak, government efforts to revive the tourism industry will assist in growth in the future. With COVID-19 as a scene, priorities in the industry have changed in reaction to evolving requirements of customers. While there is growing stress on leisure travel, hesitancy of individuals to travel abroad has moved focus from international tourism to local.
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Competitive Landscape
The SIT market is averagely fragmented, with most of the companies focusing on enhancing their portfolio and service quality and are implementing eco-friendly approach to remain relevant in the sector. Apart from this, there is plentiful focus on growing online presence to attain a wider demography.
Some of the key companies active in the global SIT market are Audley Travel, Martin Randall Travel Limited, Trafalgar, Carlson Holdings, Inc., Wild frontier, Cox & Kings Ltd., National Geographic Partners, LLC., Flight centre Travel Group, Booking Holdings, Inc., and EF Educational Tours.
About the Study
The study offers readers a comprehensive assessment of the special interest tourism market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights on the basis of purpose (activity, educational, discovery, hobbies, challenge, relaxation, health & therapy and day tours), activity {environmental(ecotourism, nature-based tourism, wildlife tourism and others), adventure (backpacking, mountaineering, whitewater, rafting, bicycling and others) and sport (golf, tennis, sailing, soccer, cycling, kayaking, scuba diving, and others)}, booking channel (phone booking, online booking and in person booking) and across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
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About Future Market Insights
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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Report: https://www.futuremarketinsights.com/reports/special-interest-tourism-sector-overview-and-analysis
Press Release Source: https://www.futuremarketinsights.com/press-release/special-interest-tourism-sector-overview-and-analysis
SOURCE: Future Market Insights
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