Cultural Tourism Market to Grow $6.6 Billion by 2027

11-01-23

The Technavio company  categorizes the global cultural tourism market as a part of the global leisure facilities market within the overall hotels, restaurants, and leisure market. The parent global leisure facilities market covers companies engaged in the operations of leisure facilities such as sports and fitness centers, stadiums, golf courses, and amusement parks. The global cultural tourism market size is estimated to increase by USD 6600.71 million. The market's growth momentum will progress at a CAGR of 20.77%.

The global cultural tourism market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer cultural tourism in the market are ACE Cultural Tours Ltd, Aracari Travel, Classic Journeys LLC, Envoy Tours, Exodus Travels Ltd., G Adventures, Geographic Expeditions Inc., Indigenous Tourism BC, Intrepid Group Pty Ltd., Kudu Travel Ltd., Martin Randall Travel Ltd, Myths and Mountains, Odyssey World, Responsible Travel, Tandem Travel OOD, Tauck Inc., Travel Leaders Group Holdings LLC, Travelogy India Pvt. Ltd., Wilderness Travel, and FROSCH International Travel LLC and others.

The global cultural tourism market is at its growing stage. This implies that the market in focus is characterized by growing affordability, increased preference for cultural tourism to break mundane lifestyles, and growing contribution toward GDP and employment.

Vendor offerings:

• ACE Cultural Tours Ltd: The company offers cultural tourism such as Mozart Festival in Salzburg, Music and Opera in Vienna, and Art Nouveau in Belgium.

• Aracari Travel: The company offers cultural tourism such as Tailormade Peru Trip.

• Classic Journeys LLC: The company offers cultural tourism such as Colombia Cultural Walking Adventure.

• Envoy Tours: The company offers cultural tourism such as Embracing Georgia, Enlinking Caucasus and 1-day tour to Armenia.

•  Exodus Travels Ltd.: The company offers cultural tourism such as Highlights of the Amalfi Coast and Discover the Baltics.

Global cultural tourism market - Segmentation assessment

Segment overview

Technavio has segmented the market based on type (domestic cultural tourism and international cultural tourism), service (cultural eco-tourism, indigenous cultural tourism, and socio-cultural tourism), and geography (Europe, APAC, North America, Middle East and Africa, and South America). 

The market share growth of the domestic cultural segment will be higher than the other segments during the forecast period. The category is projected to continue to dominate the market throughout the forecast period because domestic culture tourism provides knowledge of the nation's tourism policies, governmental regulations, and risks related to cultural tourism.

Geography overview

By geography, the global cultural tourism market is segmented into Europe, APAC, North America, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global cultural tourism market.

Europe will account for 49% of the market's growth during the forecast period. The growth of the market in Europe is fueled by some of the popular sites including Venice and its lagoon, the historic centers of Siena, the Piazza del Duomo in Pisa, and San Gimignano in Italy. In addition, Museumsinsel in Berlin, Cologne Cathedral, the town of Bamberg, and the Palaces and Parks of Potsdam and Berlin in Germany; Bourges Cathedral, and the Pont du Gard Roman aqueduct in France; and the Palaces and Parks of Potsdam and Berlin in Germany are popular tourist destinations. These world-famous sites in Western Europe are projected to boost the market in the area during the forecast period.

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