| Source: Research and Markets
Dublin, March 20, 2024 (GLOBE NEWSWIRE) — The “U.S. Sustainable Travel Market – Focused Insights 2024-2029” report has been added to ResearchAndMarkets.com’s offering.
The U.S. sustainable travel market was valued at $66.22 billion in 2023 and is expected to reach a value of $116.46 billion in 2029, growing at a CAGR of 9.87% from 2023-2029.
The U.S. sustainable travel or tourism market has seen remarkable growth and transformation in recent years, reflecting an increasing awareness and concern for environmental and social issues. Sustainable travel encompasses a range of aspects, including eco-friendly accommodations, responsible tourism practices, and eco-conscious transportation options.
Additionally, travelers can opt for eco-friendly lodgings like ecolodges, treehouses, and sustainable resorts that aim to provide a low-impact, immersive experience in nature. Responsible tourism practices are also central to the U.S. sustainable travel market. Travelers are increasingly interested in supporting local communities and preserving cultural heritage. This has led to a rise in community-based tourism initiatives, cultural exchanges, and volunteering opportunities. Sustainable travel encourages travelers to engage with and respect the destinations they visit.
The U.S. sustainable travel market report contains exclusive data on 36 vendors. The competitive U.S. sustainable travel market is intensifying, with global and domestic players offering diverse products and services. The competitions focus on revenue generation, product & service diversification, global presence, and others. A few major players, such as G Adventures, Intrepid Travel, Natural Habitat Adventures, REI, and Responsible Travel, dominate the market.
MARKET DRIVERS
Escalating Environmental Concerns: The U.S. is the world’s most significant contributor to plastic waste and emitters of greenhouse gases. Travelers are increasingly concerned about their environmental impact during journeys, leading to a growing demand for eco-friendly and low-impact travel options like electric vehicles, cycling, or public transit. Market players must adopt sustainable practices and reduce their environmental footprint. This includes implementing energy-efficient technologies, reducing single-use plastics, and supporting conservation efforts. Travelers are likelier to choose businesses and destinations that actively address environmental concerns, providing a competitive advantage.
Government Policies Promoting Sustainable Tourism: Governments at various levels in the U.S. are introducing policies and regulations like the Federal Travel Regulation (FTR), which has already encouraged measures to support sustainable tourism. This includes incentives for businesses to adopt eco-friendly practices, tax breaks for renewable energy installations, and requirements for sustainable building standards in the hospitality industry. Market players must comply with these policies and utilize available incentives. Adhering to government standards benefits the environment and contributes to a positive public image. Government support can also increase investment in sustainable infrastructure, creating opportunities for sustainable travel businesses.
U.S. SUSTAINABLE TOURISM MARKET INSIGHTS
KEY QUESTIONS ANSWERED
Key Attributes:
Key Vendors
Other Prominent Vendors
Segmentation & Forecast
Accommodation Type (Revenue)
Age Group (Revenue)
Gender (Revenue)
End-users (Revenue)
Booking Channels (Revenue)
For more information about this report visit https://www.researchandmarkets.com/r/emv021
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