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Global Heritage Tourism Market to reach USD 723.11 billion by 2028.

Global Heritage Tourism Market Size study, by Type (Cultural Heritage, Natural Heritage, Intangible Heritage) by End-user (30 & Under, 31 to 50, 51 to 70, 71 and Above) by Booking Channel (Online, Offline) and Regional Forecasts 2022-2028

Product Code: CMTF-23302671
Publish Date: 14-08-2022
Page: 200

Global Heritage Tourism Market is valued approximately USD 556.96 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 3.80% over the forecast period 2022-2028. Government measures to encourage culture in the tourist sector have significantly fueled expansion. For example, the United Nations designated 2018 as the European Year of Cultural Heritage, providing an exceptional chance to develop and promote cultural tourism. The rising relevance of culture in foreign travel is also driving expansion. While on vacation, travelers are increasingly searching for concrete and intangible cultures. These attractions offer unique material, spiritual, and intellectual knowledge about the area. Furthermore, governments throughout the world are launching large measures to promote the regional heritage travel industry, which is projected to have a significant influence on the growth of the Global Cultural Tourism Market. The growing interest in cultural travel is accelerating the rise of the global heritage tourism business. According to the United Nations World Tourism Organization, cultural and historical travel accounts for around 40% of all tourism worldwide per year. The sector is constantly changing, driven by changing consumer lifestyles, emerging forms of culture, and increased digital innovation. Furthermore, the growing trend of digitization and digital innovation in the travel and tourism sector is predicted to help the entire travel business as well as cultural tourism expand. In addition, The Council on Library and Information Resources and Stanford Libraries announced the creation of the Digital Library of the Middle East, a public platform, in July 2020. The library provides access to the Middle Eastern and North African cultural legacies, which is projected to stimulate tourist interest in cultural tourism. Amazon, for example, will launch Amazon Explore, a virtual tour and experience platform, in September 2020. The VR application offers tours to distant destinations as well as excursions to cultural and natural attractions such as temples and palaces. This service is currently accessible in the United States. The firm announced group experiences, with up to seven consumers in a group, in September 2021. The high cost of Heritage Tourism, on the other hand, stifles market expansion over the projection period of 2022-2028.

The key regions considered for the Global Heritage Tourism Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific has the biggest market share. This is due to the region’s abundant cultural endowments, which are mostly given by China, India, and Japan. Higher domestic and international visitor arrivals, as well as longer durations of stay in the region, provide for increased income creation and revenue sharing. During the projection period, the Middle East and Africa are predicted to rise rapidly. Increasing government activities to promote tourism and culture in the region are likely to fuel sector growth throughout the forecast period.

Major market player included in this report are:
ACE Cultural Tours Ltd.
Exodus Travels Ltd.
Expedia Group, Inc.
BCD Travel
ATG Travel
Kesari Tours Pvt. Ltd.
Carlson Wagonlit Travel
Martin Randall Travel Ltd.
Travel Leaders Group
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Cultural Heritage
Natural Heritage
Intangible Heritage

By End-user:
30 & Under
31 to 50
51 to 70
71 and Above

By Booking Channel:

By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028

Target Audience of the Global Heritage Tourism Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2028 (USD Billion)
1.2.1. Heritage Tourism Market, by Region, 2020-2028 (USD Billion)
1.2.2. Heritage Tourism Market, by Type, 2020-2028 (USD Billion)
1.2.3. Heritage Tourism Market, by End User, 2020-2028 (USD Billion)
1.2.4. Heritage Tourism Market, by Booking Channel, 2020-2028 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Heritage Tourism Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Heritage Tourism Market Dynamics
3.1. Heritage Tourism Market Impact Analysis (2020-2028)
3.1.1. Market Drivers Increasing initiatives taken by the governments to promote culture in the tourism industry Increasing importance of culture in international travel
3.1.2. Market Challenges High Cost of Heritage Tourism
3.1.3. Market Opportunities Initiatives to promote the regional heritage travel
Chapter 4. Global Heritage Tourism Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2028)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
4.5. Top investment opportunity
4.6. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1.1. Assessment of the overall impact of COVID-19 on the industry
5.1.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Heritage Tourism Market, by Type
6.1. Market Snapshot
6.2. Global Heritage Tourism Market by Type, Performance – Potential Analysis
6.3. Global Heritage Tourism Market Estimates & Forecasts by Type 2018-2028 (USD Billion)
6.4. Heritage Tourism Market, Sub Segment Analysis
6.4.1. Cultural Heritage
6.4.2. Natural Heritage
6.4.3. Intangible Heritage
Chapter 7. Global Heritage Tourism Market, by End User
7.1. Market Snapshot
7.2. Global Heritage Tourism Market by End User, Performance – Potential Analysis
7.3. Global Heritage Tourism Market Estimates & Forecasts by End User 2018-2028 (USD Billion)
7.4. Heritage Tourism Market, Sub Segment Analysis
7.4.1. 30 & Under
7.4.2. 31 to 50
7.4.3. 51 to 70
7.4.4. 71 and Above
Chapter 8. Global Heritage Tourism Market, by Booking Channel
8.1. Market Snapshot
8.2. Global Heritage Tourism Market by Booking Channel, Performance – Potential Analysis
8.3. Global Heritage Tourism Market Estimates & Forecasts by Booking Channel 2018-2028 (USD Billion)
8.4. Heritage Tourism Market, Sub Segment Analysis
8.4.1. Online
8.4.2. Offline
Chapter 9. Global Heritage Tourism Market, Regional Analysis
9.1. Heritage Tourism Market, Regional Market Snapshot
9.2. North America Heritage Tourism Market
9.2.1. U.S. Heritage Tourism Market Type breakdown estimates & forecasts, 2018-2028 End User breakdown estimates & forecasts, 2018-2028 Booking Channel breakdown estimates & forecasts, 2018-2028
9.2.2. Canada Heritage Tourism Market
9.3. Europe Heritage Tourism Market Snapshot
9.3.1. U.K. Heritage Tourism Market
9.3.2. Germany Heritage Tourism Market
9.3.3. France Heritage Tourism Market
9.3.4. Spain Heritage Tourism Market
9.3.5. Italy Heritage Tourism Market
9.3.6. Rest of Europe Heritage Tourism Market
9.4. Asia-Pacific Heritage Tourism Market Snapshot
9.4.1. China Heritage Tourism Market
9.4.2. India Heritage Tourism Market
9.4.3. Japan Heritage Tourism Market
9.4.4. Australia Heritage Tourism Market
9.4.5. South Korea Heritage Tourism Market
9.4.6. Rest of Asia Pacific Heritage Tourism Market
9.5. Latin America Heritage Tourism Market Snapshot
9.5.1. Brazil Heritage Tourism Market
9.5.2. Mexico Heritage Tourism Market
9.6. Rest of The World Heritage Tourism Market

Chapter 10. Competitive Intelligence
10.1. Top Market Strategies
10.2. Company Profiles
10.2.1. ACE Cultural Tours Ltd Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
10.2.2. Exodus Travels Ltd.
10.2.3. Expedia Group, Inc.
10.2.4. BCD Travel
10.2.5. TUI AG
10.2.6. ATG Travel
10.2.7. Kesari Tours Pvt. Ltd.
10.2.8. Carlson Wagonlit Travel
10.2.9. Martin Randall Travel Ltd.
10.2.10. Travel Leaders Group
Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

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Data Collection:
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To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
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To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
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Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
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