SAVE Tourism Market

Market Overview:

The global SAVE tourism market size reached US$ 74.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 104.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.88% during 2023-2028. The increasing number of international travelers, the introduction of innovative and unique packages and services, and the implementation of favorable government initiatives and policies to promote tourism represent some of the key factors driving the market.

SAVE is a tourism concept, which adopts an approach that combines the demand for market and supply of four untapped verticals-Scientific, Academic, Volunteer, and Education aimed at tourism. It offers an avenue for learning, exploration, assistance, and personal development. Scientists, researchers, academics, and students often travel to specific locations to study unique ecosystems, conduct field research, collaborate with experts, or present their findings at conferences. Moreover, Academic tourism allows individuals to gain international exposure, broaden their knowledge, and foster cross-cultural understanding. On the other hand, volunteer tourism, also known as voluntourism, combines travel with volunteer work. It involves individuals or groups traveling to different destinations to engage in community-based projects and contribute to social or environmental causes. Besides, education tourism focuses on learning and skill development through travel experiences. It includes various forms of educational travel such as study abroad programs, language immersion courses, cultural exchanges, and vocational training that provides opportunities for personal and professional growth.

SAVE Tourism Market Trends:

The market is primarily driven by the increasing number of international travelers across the globe. In addition, the escalating demand for educational and experiential learning opportunities is a significant driver for these forms of tourism. Students, researchers, and professionals seek travel experiences that allow them to acquire knowledge, gain practical skills, and broaden their perspectives in specific fields of study or interest. Besides, the growing interest in social responsibility and community engagement is also escalating the demand for SAVE tourism. People are increasingly seeking opportunities to contribute their skills, time, and resources to support social, environmental, and humanitarian causes, both domestically and internationally. Moreover, the implementation of favorable government policies, grants, and incentives is also influencing the market growth. Governments around the world are recognizing the value of scientific research, academic collaborations, volunteer work, and educational exchange and providing funding, scholarships, and streamlined visa processes to encourage participation and engagement. This, coupled with various advancements in technology, especially in the areas of connectivity and digital communication is contributing to market growth. Online platforms, e-learning tools, and virtual collaborations enable researchers, students, and volunteers to connect with institutions, communities, and opportunities across the globe, overcoming geographical barriers. Furthermore, various companies are offering innovative services to SAVE travelers that offer invaluable knowledge and research depending upon their assets and capabilities, thus creating a favorable market outlook across the globe.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global SAVE tourism market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on type and sales channel.

Type Insights:

• Scientist
• Academic
• Volunteer
• Education
   

The report has provided a detailed breakup and analysis of the SAVE tourism market based on the type. This includes scientist, academic, volunteer, and education. According to the report, academics represented the largest segment.

Sales Channel Insights:

• Travel Agent
• Online
   

A detailed breakup and analysis of the SAVE tourism market based on the sales channel has also been provided in the report. This includes travel agent and online. According to the report, travel agent accounted for the largest market share.

Regional Insights:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Europe was the largest market for SAVE tourism. Some of the factors driving the Europe SAVE tourism market included the changing travel preferences, the escalating demand for educational tourism and the implementation of favorable government initiatives.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global SAVE tourism market. Detailed profiles of all major companies have been provided. Some of the companies covered include Abta Ltd., Attitude Hospitality Ltd., Bookdifferent, Deutsche Gesellschaft für Internationale Zusammenarbeit, Fair Trade Tourism, The travel foundation, Tui Group, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global SAVE tourism market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global SAVE tourism market?
• What is the impact of each driver, restraint, and opportunity on the global SAVE tourism market?
• What are the key regional markets?
• Which countries represent the most attractive SAVE tourism market?
• What is the breakup of the market based on the type?
• Which is the most attractive type in the SAVE tourism market?
• What is the breakup of the market based on sales channel?
• Which is the most attractive sales channel in the SAVE tourism market?
• What is the competitive structure of the global SAVE tourism market?
• Who are the key players/companies in the global SAVE tourism market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the SAVE tourism market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global SAVE tourism market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the SAVE tourism industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.