May 24, 2024
Beach Tourism Market

Beach Tourism Market Is Rising In Popularity By Increasing Global Travel Trends

The beach tourism market comprises travel to beach or coastal areas. Popular beach activities include swimming, sunbathing, fishing, water sports and adventure sports. Beaches offer tourists natural beauty, solace and opportunities for leisure and relaxation. The growing culture of beach vacations and weekend getaways has contributed to the growth of beach resorts, hotels and development of tourism infrastructure near coastal areas.

The Global Beach Tourism Market is estimated to be valued at US$ 341.10 Bn in 2024 and is expected to exhibit a CAGR of 5.3% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the beach tourism are TUI Group, Expedia Group, Inc., TripAdvisor, Inc., Thomas Cook, Booking.com B.V., Airbnb, Inc., Cox & Kings Ltd, apple leisure group, Kuoni travel group, On The Beach Group, Beach Travel, Safari & Beach, The Anaheim Tour Company, and Dana Point. The increasing popularity of beach destinations has boosted several travel companies to expand their beach tourism offerings.

Growing demand for beach vacations and holidays has encouraged significant investment in beach infrastructure development. Many tropical countries have identified beach tourism as a key sector to boost employment and economic growth. The rising affluence of middle-class population in emerging markets has increased their spending power on leisure travel to beach locations.

The global expansion of travel companies and online travel booking platforms has made beach vacations accessible to a worldwide consumer base. Several destinations in Southeast Asia, Latin America, the Mediterranean and the Caribbean regions have emerged as popular short and long-haul beach spots. The travel industry is adding new beach destinations and experiences to cater to evolving traveller interests.

Market key trends

One key trend aiding the Beach Tourism Market Growth is social media promotion of beach destinations. Travel influencers on different social media platforms share picturesque visuals of exotic beach locales boosting their visibility. This virtuous cycle of user-generated content drives more travelers to experience the featured locations. The visual content bridges the information gap and convinces potential travelers to visit new beach places. This social media marketing trend will continue bolstering the beach tourism sector.

Porter’s Analysis

Threat of new entrants: Low startup costs however existing players have strong brand recognition and economies of scale.

Bargaining power of buyers: Buyers have low bargaining power as there are many substitute destinations and packages to choose from.

Bargaining power of suppliers: Suppliers of beach tourism services and infrastructure have moderate bargaining power due to inelastic demand from tourists.

Threat of new substitutes: Moderate threat from other types of tourism like nature tourism, adventure tourism and cruise tourism.

Competitive rivalry: Intense competition between existing players to offer customized packages, professional services and unique experiences.

Geographical Regions

The Caribbean region accounts for the largest share of the global beach tourism market in terms of value. Countries like Mexico, Jamaica, Dominican Republic and Bahamas are extremely popular beach destinations attracting millions of tourists annually.

Southeast Asia is projected to be the fastest growing region for beach tourism market during the forecast period. Countries like Thailand, Philippines, Bali (Indonesia), Maldives and Sri Lanka have pristine beaches, tropical climate and affordability which are boosting tourist arrivals exponentially in recent years.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it