With a compound annual growth rate (CAGR) of 8. 7% between 2023 and 2033, the global tourism security market, recently valued at $4. 94 billion, is expected to reach $11. 39 billion by 2033.
According to UNWTO tourism figures, as many as 117 million foreign visitors travelled worldwide in the first quarter of 2022. The news is that this figure represents an increase of 76 million from last year (first quarter).
Safety and security are fundamental elements that travelers must have. Historic sites, theme parks, restaurants, and hotels, to cope with security considerations in well-known tourist destinations, rely on police security facilities and personal security agencies. The tourism vertical can become the maximum revenue-generating vertical through the care of the fundamental standards of protection and safety. Overall, a tourist destination’s ability to provide a safe environment for visitors would determine its success.
The middle-class population in regions such as Mexico, Brazil, India, and China is expanding in the wake of industrialization. This, in turn, calls for tourism to expand to more countries.
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At the same time, one cannot ignore the fact that tourism security is subject to threats, including virtual ones. It’s worth noting that cybersecurity is equally vital in today’s scenario. The web is the driving force of the entire travel and tourism industry. ; directly from room occupancy, check-in, bus schedules, flight patterns, credit card payments, room service, and more.
Initially, these activities fell under the category of “cybercrime”, but can now be classified as “cyberterrorism” (given the volumes committed). Many tourist sites are not well equipped to fight such attacks. In addition, nowadays, frauds also occur through fake payment gateways. Seniors would be among the hardest hit, as they would suffer huge losses the moment they were informed that their accounts had been falsified.
Future Market Insights has incorporated those aspects into long-term perspectives in its latest market study titled “Tourism Safety Market”. The diversity of expertise in the form of analysts and experts is there to execute your bottom-up strategy at your primary, secondary, and tertiary levels. modes of study.
“With the increasing frequency of tourists traveling abroad, the global tourism security market is expected to see abundant expansion during the forecasted period,” says an analyst at Future Market Insights.
Key Takeaways from the Tourism Security Market
North America holds the largest market share, followed by Europe and the Asia-Pacific region. This can simply be attributed to the growing awareness of tourism protection around the world.
Key Players in the Tourism Security Market
What does it say?
Tourism Security Market by Category
For security reasons:
By age group:
By Channel:
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Nandini Singh Sawlani
The Associate Vice President of Future Market Insights is deeply committed to uncovering actionable insights for customers and food and beverage stakeholders. It brings a combination of analytics, industry trends, and customer habits to put knowledge into perspective.
What he does with the knowledge makes for a gripping read. She is a reviewer and contributor to publications such as Process Industry Informer and Spinal Surgery News as she understands the pulse of the market and the conversion of customer preferences.
He likes to invite experts to a roundtable to assess the effect of a trend on an industry. Read their discussion on the effect of AI on packaging.