Technavio’s recent research regarding the global agritourism market for the period 2019 to 2023 segments the market by type – domestic and international – and geography – the Asia-Pacific region, Europe, the Middle East and Africa region, South America and North America.
Global-agritourism market size will grow by almost USD$54.63 billion during 2019 to 2023, at a compound annual growth rate of nearly 18 percent, according to the research. The trend of instant bookings has positively impacted the growth of the global agritourism market in recent years; such booking processes are associated with minimal or zero wait time. Online agritourism sites facilitate real-time booking, which will improve the convenience of booking agricultural tours and contribute to increased customer satisfaction.
Technological advancements impact the vendors in the global agritourism market significantly because such improvements help in expanding their customer base. Technological advances help vendors enhance their booking portals in terms of design, in bids to attract customers and to expand their customer bases.
The owners of agricultural properties, on the other hand, have been investing in smart safety devices and monitoring systems to detect intrusion and issue timely alerts. Also they are investing in technologies to assist them in securing and streamlining business operations. The installation of Wi-Fi locks or electronic locks further helps in attracting security-conscious travelers to consider farm stays and other agricultural tourist places as potential accommodation.
“The growth of the travel and tourism industry in Europe is contributing to the growth of the agritourism market in the region,” Technavio states. “Increased customer awareness, the presence of several established players and technological advancements will drive the growth of the agritourism market in this region during the coming years.”
The expenditure on leisure activities is expected to increase during the forecast period. Participation in outdoor travel is growing because of rising interest of consumers in exploring the beauty of nature. The growing availability of different camping guides and travel-blog sites has been encouraging consumers to indulge in outdoor recreational activities. All those factors will promote the growth of global agritourism.
Technavio is a global-technology research and advisory company. Visit www.technavio.com for more information.