Dublin, July 23, 2024 (GLOBE NEWSWIRE) — The “Art Tourism – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global market for Art Tourism is estimated at US$42.2 Billion in 2023 and is projected to reach US$48.7 Billion by 2030, growing at a CAGR of 2.1% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the art tourism market is driven by several factors. Firstly, the increasing disposable income and growing middle class worldwide enable more people to travel for leisure and cultural enrichment. Technological advancements, particularly in digital media and social networking, have also played a significant role by making art more accessible and promoting cultural destinations online. The rising interest in experiential travel, where tourists seek unique and meaningful experiences rather than just sightseeing, has further fueled the demand for art tourism.
Additionally, government and private sector investments in cultural infrastructure, such as the expansion of museums and the promotion of art festivals, have enhanced the appeal of various destinations. These factors, combined with a global appreciation for cultural diversity and heritage, are propelling the growth of the art tourism market, ensuring it remains a vibrant and evolving sector in the travel industry.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Concerts & Performances segment, which is expected to reach US$23 Billion by 2030 with a CAGR of a 2.6%. The Events & Exhibitions segment is also set to grow at 1.2% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $11.5 Billion in 2023, and China, forecasted to grow at an impressive 4.4% CAGR to reach $9.6 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Art Tourism Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Art Tourism Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Art Tourism Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Abercrombie & Kent USA, LLC, Art of Travel GmbH, ART SMART, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors (Total 43 Featured):
- Abercrombie & Kent USA, LLC
- Art of Travel GmbH
- ART SMART
- Groupe Solotech, Inc.
- Juma Art Tours
- Martin Randall Travel Ltd.
- Paint Away Tours
- REALITY TOURS AND TRAVEL
- Solotech
- The Blue Walk
- The Travel Corporation
- The Ultimate Travel Company Ltd.
- Trafalgar
Key Attributes
| Report Attribute | Details |
| No. of Pages | 280 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $42.2 Billion |
| Forecasted Market Value (USD) by 2030 | $48.7 Billion |
| Compound Annual Growth Rate | 2.1% |
| Regions Covered | Global |
Key Topics Covered
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of COVID-19 and a Looming Global Recession
- Art Tourism – Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Growing Interest in Cultural Experiences Spurs Demand for Art Tourism
- Expansion of Art Festivals and Biennales Expands Addressable Market Opportunity
- Integration of Art Tourism with Digital Platforms Drives Growth
- Rising Popularity of Street Art and Public Art Installations Generates Demand
- Collaboration Between Art Institutions and Tourism Boards Propels Market Growth
- Advances in Virtual Reality (VR) and Augmented Reality (AR) Drive Adoption of Digital Art Experiences
- Expansion of Art Museums and Galleries in Emerging Markets Generates Opportunities
- Celebrity Endorsements and Influencer Marketing Drive Adoption of Art Tourism Packages
- Development of Art-Themed Accommodation and Hospitality Services Expands Market
- Integration of Art Tours with Culinary and Wine Tourism Strengthens Business Case
- Growth in Solo and Female Travel Segments Propels Demand for Art Tourism
- Increasing Use of Social Media Platforms to Promote Art Destinations Generates Interest
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/ydp792
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