Global SAVE Tourism Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Global SAVE Tourism Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

SAVE tourism refers to scientific, academic, volunteer, and educational tourism. Volunteer tourism is a major part of SAVE tourism. Voluntourism combines travel with volunteering and involves individuals or groups traveling to different destinations to participate in community projects and contribute to social or environmental causes. Common forms of volunteer service include childcare projects, environmental protection, animal protection, medical services, etc.

Market Overview:

The latest research study on the global SAVE Tourism market finds that the global SAVE Tourism market reached a value of USD 57925.94 million in 2023. It’s expected that the market will achieve USD 114175.74 million by 2029, exhibiting a CAGR of 11.97% during the forecast period.

Inflation refers to the economic phenomenon in which prices generally rise and the purchasing power of money decreases. It has a certain impact on various industries, including SAVE tourism.

First of all, the most direct impact on the SAVE tourism industry is the increase in costs. Inflation leads to rising prices, which will directly increase the operating costs of the SAVE tourism industry. For example, travel agencies will need to pay higher fees for air tickets, hotel rooms, and transportation services, and restaurants and shops may also face rising prices for purchasing raw materials. This will further push up tourism prices and reduce tourists’ willingness to spend. In addition, inflation may also lead to an increase in employee wages, which will increase labor costs in the SAVE tourism industry.

Secondly, exchange rate issues will also have a certain impact on the SAVE tourism industry. Inflation causes the domestic currency to depreciate, which in turn affects the exchange rate. As the domestic currency depreciates, the amount of currency that foreign tourists need to pay for tourism consumption in the country increases relatively. This will lead to an increase in the price of products containing international tourist destinations in the SAVE tourism industry, thereby affecting tourist choices and the income of the SAVE tourism industry. Under the influence of inflation, domestic tourists are more likely to choose domestic tourism because domestic tourism avoids the issue of foreign exchange rates and will not be affected by foreign exchange prices. This means that SAVE Tourism can launch more domestic tourism products during inflation and deeply explore domestic travel routes suitable for SAVE Tourism.

Inflation may lead to increased competition among companies in the SAVE tourism industry. To attract tourists, tourist destinations may take measures to lower prices and offer more discounts. This will put more pressure on the tourism industry and reduce the profitability of SAVE tourism companies.

Benefits and Motivation of Volunteer Tourism

According to most surveys conducted in volunteer tourism, one of the main motivations for volunteers is to contribute and help residents, and participants look forward to having a positive, life-changing experience. Voluntary travel can provide a more authentic look at a country than a normal holiday, which can broaden their horizons and deepen their understanding of the complexities of poverty and sustainable development. Voluntourism means volunteers bring resources to local communities, such as volunteer teachers, doctors, or engineers to help with complex jobs. Volunteers want to improve their resumes and learn new abilities and life experiences to help them obtain work placements or improve their work skills. In their free time, most volunteers go sightseeing, such as game drives and island tours. Volunteers can spend more time with locals and visit off-the-beaten-path attractions. Some volunteer projects are related to environmental protection and getting closer to nature. People who participate in environmental volunteerism actively protect animals and habitats such as the Amazon rainforest. Protecting, restoring, and improving the sustainability of the tourism product becomes one of the motivations for volunteers. Volunteers usually need to pay for their accommodation, food, and other activities, which can promote local economic development and increase employment. Encouraged volunteers may also donate or fundraise for the area after the trip.

Increased demand for cultural tourism

With the continuous improvement of the economic level, more and more people are beginning to pay attention to spiritual culture, and emerging industries represented by cultural tourism have received widespread attention. Cultural tourism includes school visits, natural heritage protection, historical and cultural interpretation, and festival activities. The majority of cultural tourism groups are young people. These consumers tend to choose novel things, change the concept of tourism from a brief look to an in-depth experience, experience cultural tourism, and make consumption. As countries around the world gradually attach importance to the export of traditional culture, they have successively introduced several policies at the policy level to protect and promote traditional monuments and culture, attracting many tourists from other countries. Today, cultural tourism has become a major priority for most countries in the world, according to the United Nations World Tourism Organization.

Cultural tourism offers an immersive experience that goes beyond mere sightseeing, providing the opportunity to observe different traditions and customs up close. It expands knowledge and understanding of the world while also ensuring cultural preservation and the passing on of traditions. Far-flung cultures are made accessible through the media, including travel shows, documentaries, and social media influencers. Some destinations will encourage the revitalization of local culture and arts. This may be in the form of museum exhibits, the way restaurants and shops are decorated, and the entertainment provided. Cultural tourism not only injects new capital into the economy but also promotes inclusivity and protects traditional culture and resources. For example, visitors to a museum can help preserve, promote, and protect the site's future.

Educational tourism is one of the very popular forms of tourism in recent years. Factors such as changing attitudes towards education, the rise of lifelong learning, new educational approaches, and increased global student mobility are driving the rapid growth of educational tourism. Reasons for the growth in the total number of educational tourists include tourists' desire for new information; emerging education methods; new research techniques; and extensive exposure to science. Types of educational travel include study abroad, language immersion programs, youth school tours, student exchange programs, seminar trips, and international scientific research projects. Educational tourism eliminates teachers, classrooms, schools and pre-set curricula, allowing children to learn through the environments, cultures, climates, histories, and societies they naturally encounter while traveling. Although the main group of educational tourism is students, the elderly also benefits greatly from visiting seminars and seminars abroad. Educational travel provides unique hands-on learning opportunities. Whether participating in a language course, an archaeological dig, or an ecology project, travelers gain practical skills and knowledge that cannot be gained in a classroom setting. Travel for educational purposes allows individuals to connect with peers, professionals, and experts in a variety of fields and can lead to future collaborations, career opportunities, and lifelong friendships.

Region Overview:

In 2022, the share of the SAVE Tourism market in Europe stood at 39.37%.

Company Overview:

The major players operating in the SAVE Tourism market include Booking Holdings, Tui Group, Expedia Group, Airbnb, Chase Travel Group, etc. Among which, Booking Holdings ranked top in terms of sales and revenue in 2023.

Booking Holdings is the world’s leading provider of online travel and related services, provided to consumers and local partners in more than 220 countries and territories through six primary consumer-facing brands: Booking.com, Priceline, Agoda, Rentalcars.com, KAYAK and OpenTable, as well as through a network of subsidiary brands including Rocketmiles, Fareharbor, HotelsCombined, Cheapflights and Momondo, bringing greater value to both customers and partners around the world.

Segmentation Overview:

By type, Academic segment accounted for the largest share of market in 2022.

Application Overview:

By application, the Online segment occupied the biggest share from 2018 to 2022.

Key Companies in the global SAVE Tourism market covered in Chapter 3:

Tui Group
Trip.com Group
Booking Holdings
Chase Travel Group
Expedia Group
TripAdvisor Inc
American Express Travel
Flight Center
Airbnb
REWE Group

In Chapter 4 and Chapter 14.2, on the basis of types, the SAVE Tourism market from 2019 to 2030 is primarily split into:

Scientist
Academic
Volunteer
Education

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the SAVE Tourism market from 2019 to 2030 covers:

Travel Agent
Online

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2019-2030) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)