The global heritage tourism products market was valued at USD 585.2 billion in 2021 and is projected to expand at a CAGR of 6.0% from 2022 to 2030. Heritage tourism has become increasingly popular in recent years as more people are looking to learn about the culture and history of their destination. It has become a major source of income for many countries, particularly those with a rich cultural history. Heritage tourism products, such as souvenirs, apparel, books, and audio-visual products, are being increasingly purchased by tourists visiting these sites.

The growing trend of cultural and historical tourism has led to an increase in the demand for heritage tourism products. Tourists are increasingly spending on products related to their visits, such as souvenirs, audio-visual products, apparel, books, and other merchandise. For instance, in June 2021, Universal Music Group launched its Heritage Collection, a series of classic albums reissued on CD and vinyl. Furthermore, the availability of these products online has further increased the demand. Online stores provide customers with a wide range of products related to their destination, including souvenirs and apparel.

The increasing number of heritage sites being developed is expected to drive the demand for heritage tourism products. Many countries are establishing new heritage sites to attract tourists. For instance, in December 2021, the government of India announced the development of three new heritage sites, namely the Buta Mandir in Rajasthan, the Satpura Tiger Reserve in Madhya Pradesh, and the Bhimbetka Rock Shelters in Madhya Pradesh. This is expected to further drive demand for heritage tourism products.

The rising trend of digitalization in the tourism industry is further driving the market growth. Tourists are increasingly using digital platforms to purchase heritage tourism products. For instance, in October 2021, TripAdvisor launched a platform for tourists to buy souvenirs and other products related to their destination. Moreover, the increasing number of mobile applications for heritage tourism is also driving the market growth. For instance, the India Tourism App was launched in August 2021, which provides information on heritage sites, monuments, and related products.

Furthermore, the increasing trend of experiential tourism is further boosting the demand for heritage tourism products. Tourists are increasingly opting for packages that include activities such as cooking classes, winery visits, and guided tours for a more immersive experience. This is expected to drive the demand for heritage tourism products such as apparel,

The cultural heritage segment is expected to hold the largest share of the heritage tourism market in 2022. Cultural heritage tourism refers to the activities of visitors who travel to experience the culture of a destination, including its traditions, customs, and lifestyle. According to the Heritage Council of Ireland, 78% of the visitors to Ireland in 2019 were interested in cultural heritage tourism. Growing importance of culture and heritage sites, especially in developing countries, is one of the key factors driving the growth of the cultural heritage segment.

The outdoor heritage segment is expected to grow at the fastest CAGR of 11.7% during the forecast period. Increasing focus on outdoor recreation, such as camping, hiking, and birding, is driving the growth of the outdoor heritage segment. According to a survey conducted by the National Trust, in 2019, 43% of UK respondents said they visited outdoor heritage sites. Furthermore, increasing investment by tourism boards and governments in outdoor heritage sites is another factor driving the growth of the outdoor heritage segment.

The travel agents segment accounted for the highest share of the market in 2022. The growth of the segment is mainly attributed to the rising trend of tourists availing the services of travel agents for designing their customized travel packages as compared to the standard packages offered by the tour operators. According to a survey conducted by the World Tourism Organization in 2020, around 56% of the travelers prefer to design their own tours while 39% rely on the packages offered by the travel agents. In addition, the travel agents provide detailed information about the attractions, cultural heritage, and the places to visit, which attracts more tourists for their heritage tours.

The tour operators segment is anticipated to register the highest CAGR of 7.4% over the forecast period. The growth of the segment is mainly due to the rising trend of the local tour operators providing customized packages for heritage tours. Tour operators offer travelers with a package that includes accommodation, sightseeing, and other activities such as adventure sports, cultural performances, and shopping. In addition, they provide a guide who is well-versed with the local language and culture, which makes the tour more interesting and convenient for the travelers.

The cultural heritage segment dominated the market in terms of revenue in 2022, accounting for a market share of 69.2%. Heritage tourism is related to the culture and history of a particular place. It often includes visiting historical sites and museums, attending cultural events and activities, and exploring local cuisine. The growing trend of tourists visiting historical and cultural places is driving the segment growth. For instance, in 2020, UNESCO reported that there were more than 1.5 billion tourists visiting heritage sites across the world.

The natural heritage segment is expected to expand at the highest CAGR of 8.4% over the forecast period. Natural heritage sites include the various flora and fauna of a particular region, such as the Great Barrier Reef in Australia, the Grand Canyon in the United States, and the Galapagos Islands in Ecuador. They are also known for their ecological value and are becoming increasingly popular among tourists due to their scenic beauty and unique environment. This is likely to drive the demand for heritage tourism products related to natural heritage sites over the forecast period.

Europe is expected to be the largest market for heritage tourism products in the forecast period. The increasing trend of heritage tourism in the region is expected to drive the growth of the market. This is due to the presence of numerous tourist attractions such as the Colosseum, Eiffel Tower, Tower of London, and others. Moreover, the increasing number of international travelers in the region is further driving the market growth. In February 2021, the European Commission launched the European Travellers’ Information Hub, an online portal to provide information on travelling to the European Union.

The Asia Pacific is expected to witness the second-highest growth in the coming years. This is mainly due to the rising number of tourists visiting the region. The presence of numerous historical monuments and cultural sites in the region is further attracting tourists from across the world. Moreover, the increasing tourism spending in the region is expected to propel the growth of the market.

In this part of the Heritage Tourism Products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your Heritage Tourism Products business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions

The main sources of revenue for a Heritage Tourism Products business comes from ticket sales, tours, merchandise, and sponsorships. Here you will find a list with a description of each of them and other possible sources of profit such as concessions, the sale of souvenirs, and the sale of educational materials.

Projecting Expenses

In this section, all the regular expenses related to keeping the Heritage Tourism Products business running will be described. The list of operating expenses includes marketing, staffing, equipment, technology, utilities, insurance policies, advertising, and others.

Some of the key companies operating in the heritage tourism market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In October 2022, Expedia Group launched a series of heritage tours to promote cultural experiences in India.

– In August 2022, Booking.com launched a series of heritage tours in the United Kingdom.

– In March 2022, Airbnb launched a series of heritage experiences in China.

Some of the prominent players in the heritage tourism market include:

– Expedia Group
– Booking.com
– TripAdvisor LLC
– Airbnb
– Viator, Inc.
– Contiki Holidays
– Intrepid Travel
– G Adventures
– Insight Vacations
– Trafalgar Tours

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global heritage tourism products market based on product, distribution channel, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Cultural Heritage Tours
– Historical Monuments & Sites
– Ethnic Cuisine Experiences
– Traditional & Local Crafts
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Offline
– Online

3. Regional Outlook (Revenue, USD Million 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What are the Factors Driving the Heritage Tourism Products Market?
[A]: Key factors driving the growth of the heritage tourism products market include the growing awareness of cultural heritage, increased government initiatives, and the emergence of new digital platforms. Additionally, growing demand for personalized experiences and the use of technology to create custom-made products are also driving the growth of the heritage tourism products market.

[Q]: Who are the Key Players in the Heritage Tourism Products Market?
[A]: Key players in the heritage tourism products market are Intrepid Group, G Adventures, Exodus Travels, Trafalgar, Abercrombie & Kent, Backroads, and TUI Group, among others.

[Q]: What are the Benefits of Heritage Tourism Products?
[A]: Heritage tourism products offer numerous benefits to travelers, such as an opportunity to explore and learn about different cultures and customs, the chance to experience unique local attractions, and the ability to discover unique stories and sites. Additionally, heritage tourism products provide a chance to help preserve local culture and heritage.

[Q]: What are the Latest Trends in Heritage Tourism Products?
[A]: The latest trend in heritage tourism products is the focus on experiential travel and immersive experiences. This includes activities such as cultural events and festivals, local cuisine, and interactive activities. Additionally, heritage tourism products have also shifted towards digital and virtual experiences, such as virtual tours, interactive maps, and other digital tools.

[Q]: What is the Potential of Heritage Tourism Products?
[A]: The global heritage tourism products market is expected to witness a significant growth over the forecast period, owing to the growing demand for personalized experiences and the emergence of new digital platforms. Additionally, the increasing number of heritage sites and museums, as well as the growing focus on cultural heritage preservation, are also expected to drive the growth of the heritage tourism products market.