PUBLISHER: The Business Research Company | PRODUCT CODE: 1578721
PUBLISHER: The Business Research Company | PRODUCT CODE: 1578721
Heritage tourism involves travel centered on exploring and experiencing historical sites, cultural landmarks, and traditional practices that reflect a region's historical and cultural legacy. Its goal is to educate and inspire visitors while preserving and celebrating the unique aspects of different areas. This type of tourism helps deepen understanding of historical contexts and supports the conservation of valuable cultural assets.
The main categories in the heritage tourism market include cultural heritage, natural heritage, and intangible heritage. Cultural heritage encompasses traditions, customs, monuments, artifacts, and practices passed down through generations that signify a community's historical and cultural identity. Accommodations vary and include farm stays, cottage rentals, eco-lodges, and homestays. Visitors span different age groups such as 30 and under, 31 to 50, 51 to 70, and 71 and above. Booking channels include both online and offline options.
The heritage tourism market research report is one of a series of new reports from The Business Research Company that provides heritage tourism market statistics, including the heritage tourism industry global market size, regional shares, competitors with heritage tourism market share, detailed heritage tourism market segments, market trends, and opportunities, and any further data you may need to thrive in the heritage tourism industry. These heritage tourism market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The heritage tourism market size has grown strongly in recent years. It will grow from $573.34 billion in 2023 to $606.57 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth during the historic period can be attributed to the increased affordability of tour packages, a rise in demand for experiential and immersive travel, improvements in the visitor experience at heritage sites, and a growing awareness of cultural preservation and sustainable tourism.
The heritage tourism market size is expected to see strong growth in the next few years. It will grow to $771.50 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth anticipated during the forecast period can be attributed to the rising demand for cultural festivals and events, expanding educational opportunities, an increase in religious and spiritual travel, a growing economic contribution, and enhanced government support and initiatives. Key trends expected include the use of augmented reality (AR) and virtual reality (VR) to improve the visitor experience, the adoption of sustainable and eco-friendly tourism practices, innovations in personalized and customized heritage tour packages, the development of 3D modeling and holography for exhibits, and advancements in digital platforms.
The rising interest in historical events is expected to drive the growth of the heritage tourism market. Historical events, which are significant occurrences from the past that have influenced history, societies, or cultures, are gaining popularity due to improved educational resources, media exposure, cultural trends, and a desire to understand historical contexts. These events contribute to heritage tourism by offering engaging narratives and attractions that appeal to visitors, enhance their appreciation of cultural heritage, and stimulate local economies. For instance, in January 2024, Historic England, a UK-based government agency, reported an 11% increase in visits to historic attractions in the UK for 2023 compared to 2022. Visits to places of worship more than doubled from the previous year, and revenue from historic attractions increased by 10% in 2023. Consequently, the growing interest in historical events is propelling the heritage tourism market.
Key players in the heritage tourism market are focusing on integrating technology to improve the travel experience through advanced booking systems, real-time updates, and mobile applications that offer intuitive navigation, personalized recommendations, and efficient access to local attractions. This approach aims to provide a more streamlined, personalized, and enjoyable travel experience, catering to individual preferences. For example, in November 2021, Myheritage, an Israel-based software development company, partnered with Expedia Group to launch the Heritage Travel Hub. This technology-driven platform enhances heritage tourism by using digital tools to help users explore their ancestry and plan travel itineraries based on their family history. The platform offers tailored recommendations for cultural landmarks, historical sites, and culinary experiences in countries linked to users' ancestral backgrounds.
In June 2024, Szallas Group, a Hungary-based travel arrangements company, acquired an 80% stake in Creative Eye SRL for $18.2 million. This acquisition aims to strengthen Szallas Group's position in the Romanian market and expand its presence in Central and Eastern Europe. Creative Eye SRL is a Romania-based travel company specializing in heritage tourism.
Major companies operating in the heritage tourism market are TUI AG, Booking Holdings Inc., Expedia Group Inc., Carlson Wagonlit Travel (CWT), Airbnb Inc., BCD Travel, TripAdvisor Inc., Abercrombie & Kent USA LLC, Intrepid Travel Ltd., Travel Leaders Group LLC, Kesari Tours Pvt. Ltd., Collette Travel Service Inc., GetYourGuide Deutschland GmbH, Tauck, G Adventures Inc., ATG Travel Worldwide B.V., Wanderlust Travel Pvt.Ltd., Exodus Travels Limited, National Geographic Partners LLC, Trafalgar Tours Limited, EF Go Ahead Tours, Heritage Expeditions Ltd., Martin Randall Travel Ltd., ACE Cultural Tours Ltd., Context Travel
Asia-Pacific was the largest region in the heritage tourism market in 2023. Middle East is expected to be the fastest-growing region in the forecast period. The regions covered in the heritage tourism market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the heritage tourism market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The heritage tourism market includes revenues earned by entities by providing services such as guided tours, cultural exhibitions, themed accommodation and dining, and specialized transportation. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Heritage Tourism Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on heritage tourism market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for heritage tourism ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The heritage tourism market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.