Cultural Travel: Sector Analysis & Market Perspective

Cultural Travel: Sector Analysis & Market Perspective Overview

The developing tourism arena is flanked by millions of tourists. These tourists are gutsy and they are ready to extend their horizon of knowledge. The cultural travel segment is one such segment of tourism that ushers in a huge pool of tourists who are eager to follow a new path and quench their indomitable thirst for knowledge. Cultural travel is a perfect platform for gaining knowledge about any place. Most of the culturally rich countries are promoting this extremely rich mode of tourism for the last few years. Cultural tourism is not only feeding the wanderlust of tourists, but it is also a correct medium to preserve some abrogating cultures spread across the globe. Cultural travel is a marriage of the past and present. Through cultural travel, countries are not only benefitting their tourism economy, but they are also providing a befitting platform to showcase a particular culture. By curating a proper cultural travel network the cultural branding of a particular property or location can attract immediate media attention.

Recent studies have clearly highlighted the evolving spending pattern of cultural travelers, who spend approximately 37 percent more on their travel than the normal globetrotters. Hotels and luxury properties also earn more as the cultural tourists tend to extend their stay in a cultural locale. The emerging trend of experimental tourism is also redefining the contours of cultural travel. The massive global adult population is adding up to the growth of the cultural travel sector. Cultural tourism has the potential to highlight the past and present of a civilisation. Through cultural travel, a tourist can do a proper recce of urban and rural life and they can also cruise through the alleys of religion and history to get a deep insight of that spot.

The World Tourism Organisation reveals that almost 37 percent of the world tourism domain is dominated by cultural travel and it is expected to register a growth of more than 14 percent in the coming few years. Millions of wanderers are gradually tilting towards cultural travel. The new mushrooming trend is the beginning of a new revolution in the tourism sector. Cultural travel has been a massive revenue earner for several culturally rich countries and culture-rich tourism destinations have been the maximum crowd puller in the last few years. Major cultural extravaganzas, theme shows, and festivals have broken all the barriers and wooed millions for decades and the trend is still going strong. The South-East Asian region, North America, Europe, and Africa are some of the regions that are dominating the cultural travel market.

To promote local culture through tourism many of the governments around the world are shaking hands with local tribes or natives. This is not only financially empowering the natives but is also uplifting the business potential of that tourism spot. Massive tie-ups and acquisitions are happening in this segment of tourism. Multiple business mergers and pacts are benefiting the growth of the cultural travel sector. 

Cultural Travel: Game Changers

The growth of cultural travel is backed by the all-round development of the tourism industry. The cultural travel sector is also extremely benefitted by the slew of promotional measures doled out by several governments to promote dimming cultures. The emergence of a new army of tourists who are opulent, educated and aged is also providing adequate fodder for the development of cultural travel.

Cultural Travel: Restraints

The phantom of terrorism is diminishing the global surge towards cultural travel. Several cultures have been badly fractured by the wrath of terror unleashed on them over the last few years. Natural disasters and the swelling number of millennial tourists are also barricading the organic growth of cultural travel as a potential tourism experience.

Cultural Travel: Bigwigs

There are several institutions and travel agencies that organise tailor-made cultural tours. Government aided tours are also organised in different parts of the world with the sole intention of promoting and nourishing a particular culture.

This comprehensive report equips readers with lucid information and analysis on the sector. Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.

The report offers a 360° view – bringing to the fore key drivers, restraints, opportunities, and challenges prevailing in the sector. To offer readers actionable insights, detailed information on historical trends, current scenario, and future projections is provided in the report. 

The report specifically focusses on the leading companies operating in this sector, highlighting their key developmental strategies. A holistic analysis of the leading players is highlighted to help decision makers understand the overall competitive landscape.

What Can Readers Expect from this Report?

• An overview of the sector, including the key factors that have shaped patterns and demand
• Not just data, but insights that you can incorporate in your strategic decision making
• Nuanced underlying factors that influence consumer behaviour
• Data points to understand the past, analyse the present, and project the future
• Trends that will impact the sector in the short- and long-term
• Deeper understanding of the target audience, their motivations, aspirations, and expectations from service providers