ETHNIC TOURISM MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

The ethnic tourism market is estimated to be valued at USD 13.94 Bn in 2024, growing at a compound annual growth rate (CAGR) of 14.3% from 2024 to 2031.  Ethnic tourism refers to tourism motivated by the experience of different cultures. It allows travelers to immerse themselves in the daily lives, traditions, arts, crafts, food, and rituals of ethnic communities. It offers tourists an authentic experience through interactions with local people and businesses. As travelers increasingly seek unique experiences that are different from mainstream tourism, ethnic tourism has become a growing market segment globally.

 Market Dynamics:

The global ethnic tourism market is driven by factors such as increasing disposable incomes, growing preference for experiential travels, expanding middle class population particularly in emerging economies, and easy availability of travel-related information online. However, high travel costs restrain the market growth. The development of infrastructure in remote areas with strong ethnic cultures presents significant opportunities for market expansion. Increased promotion by governments and tour operators focusing on unique ethnic experiences can further boost the ethnic tourism market.

 Key Features of the Study:

• This report provides an in-depth analysis of the global ethnic tourism market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global ethnic tourism market based on the following parameters, company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Ethnic Travel, Ethnic Travel Laos, Ethnic Ties LLC, MATHINI TRAVEL Pvt. Ltd., Intrepid Travel, Responsible Tourism India, Responsible travel, Basecamp Explorer AS, Wild Frontiers Adventures Travel, Beyonder Experiences, Bouteco, Fareportal/Travelong, AAA Travel, JTB Americas Group, Ovation Travel Group, Kesari Tours Pvt. Ltd., Carlson Wagonlit Travel, Martin Randall Travel Ltd., and Travel Leaders Group
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global ethnic tourism market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

Detailed Segmentation-

• By Tour Type:
• • Cultural Tour
  • Heritage Tour
  • Food Tour
  • Arts & Craft Tour
  • Others
• By Traveler Type:
• • Solo
  • Group
• By Regional:
• • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Company Profiles:
• • Ethnic Travel
  • Ethnic Travel Laos
  • Ethnic Ties LLC
  • MATHINI TRAVEL Pvt. Ltd.
  • Intrepid Travel
  • Responsible Tourism India
  • Responsible travel
  • Basecamp Explorer AS
  • Wild Frontiers Adventures Travel
  • Beyonder Experiences
  • Bouteco
  • Fareportal/Travelong
  • AAA Travel
  • JTB Americas Group
  • Ovation Travel Group
  • Kesari Tours Pvt. Ltd.
  • Carlson Wagonlit Travel
  • Martin Randall Travel Ltd.
  • Travel Leaders Group