Agritourism in Asia is a new trend but highly promising one. As Asia becomes more urbanized there’s a longing for people to get back to the land and experience farming and other natural experiences. As such agritourism is riding a wave of new ways for people to explore the world.
As a vacation trend agritourism isn’t just popular in Asia but it is now a worldwide phenomenon. The agritourism market will register a CAGR of close to 18% by 2023.
The growing global travel and tourism industry is significantly contributing to the growth of the global agritourism market. Also, the considerable expansion of the global tourism industry has had a corresponding positive impact on the GDP of several nations. Several nations governments worldwide have implemented strategies to accelerate the growth of their tourism industry.
Technological advancements significantly impact vendors in the global agritourism market also, such advancements aid in expanding their customer base. The owners of agricultural properties are investing in smart safety devices and monitoring systems that detect intrusion and issue timely alerts. The increasing use of channel-management tools is expected to have a positive impact on the growth of the global agritourism market during the forecast period.
Risks associated with fraudulent vacation rental houses, apartments, and homestays
The global agritourism market is prone to the negative impact associated with multiple risk factors. Such factors also have an adverse impact on customer trust, which hinders the growth of the market. Scams, fraudulent reviews, and unethical dealings affect the operations of the key vendors in the market.
The market appears to be moderately fragmented with the presence of several companies. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
As agritourism in Asia grows more opportunities open up for companies and rural communities to benefit from the trend.