(MENAFN- GlobeNewsWire - Nasdaq) Safari tourism market size is anticipated to grow from USD 30.48 Billion to USD 56.57 Billion in 10 years. The primary driver of safari tourism growth is the growing interest of bloggers and influencers in safari vacation.
Newark, June 13, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 30.48 Billion in 2023 safari tourism market will reach USD 56.57 Billion by 2033. Numerous travel-related blogs and influencers with a substantial following may be found on social media. These people post their travel-related stuff on social media. The growing demand for unique and exotic vacation experiences, the increase in spending by the middle and upper classes, and the growing impact of social media on the travel industry are the main factors expected to propel the expansion throughout the forecast period.
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Key Insight of the Safari Tourism Market
Asia Pacific is anticipated to expand at the highest CAGR of 8.63% over the projection period.
Asia Pacific is expected to grow at the highest CAGR of 8.63% over the forecast period. The Asia Pacific tourist industry is increasing rapidly due to several causes, including increased political stability, rising disposable income and free time levels, increased economic growth, and a growing emphasis on active tourism promotion. Furthermore, according to the United Nations World Tourism Organisation (UNWTO), Asia Pacific was the second-most popular tourist destination in the world in 2020, behind Europe.
The private safari segment is expected to register the highest CAGR of 9.63% over the projected period in the safari tourism market.
The private safari segment is anticipated to grow at the highest CAGR of 9.63% in the safari tourism market. In addition to the protection and convenience of having a personal vehicle and guide, a private safari offers greater independence. Depending on their interests and budget, people can choose between an elegant or straightforward private safari. A report by SafariBookings indicates that the pandemic had a major effect on Africa's safari sector between March 2020 and May 2022. However, most safari trip companies reported a notable rebound, per the results of the most current survey, which was carried out in May 2022.
Over the projected period, the safari camps segment is expected to register the highest CAGR of 10.73% in the safari tourism market.
Over the forecasted period, the safari camps segment is anticipated to grow at the highest CAGR of 10.73% in the safari tourism market. Seasonal mobile safari camps offer traditional safari experiences. Tented safari camps are designed to move locations two or three times a year, staying in one location for several months. This ensures that the location is always outstanding and allows the camp to follow the seasonal migrations of wildlife. Seasonal camps are mostly found in and around the northern Serengeti National Park, following the major migration hotspots along the Mara River.
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Market Dynamics
Driver: Travellers' preference for authentic and unique experiences is growing
One of the key drivers driving the global safari tourism sector is the increasing demand for authentic and unique travel experiences. Safari travel offers the opportunity to witness animals in their natural habitat and to learn about various cultures and customs. The market is expanding because of the growing middle-class and upper-middle-class demographics and their greater propensity to spend money on travel. As more people seek out immersive experiences, it is projected that demand for safari tourism will increase.
Restraint: Exorbitant price for safari tours
One of the main obstacles to the global safari tourism industry is the high cost of safari trips, which reduces the number of potential clients. Safari holidays are typically expensive due to factors such as hotels, permits, and transportation. In certain countries, a shortage of hotel options and insufficient road systems may further impede the market's development. Furthermore, some regions' security concerns, like animal attacks and political instability, can discourage potential tourists, impeding the market's growth.
Some of the major players operating in the safari tourism market are:
. Thomas Cook Group
. Scott Dunn Ltd.
. &Beyond
. Abercrombie & Kent USA, LLC
. Backroads
. Wilderness
. Rothschild Safaris
. Gamewatchers Safaris Ltd.
. Singita
. TUI Group
. Travcoa Tours & Safaris
Key Segments cover in the market:
By Type:
. Private Safari
. Adventure Safari
. Others
By Accommodation Type:
. Safari Camps
. Safari Resorts & Lodges
. Treehouses
. Others
By Region
. North America (U.S., Canada, Mexico)
. Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
. Asia-Pacific (China, Japan, India, Rest of APAC)
. South America (Brazil and the Rest of South America)
. The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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