Destination management service market size worth USD 6.9 billion by 2032

27.11.2023 - 09:40 / traveldailynews.com / Vicky Karantzavelou

Leisure travel segment accounted for nearly one-third of the global market and is expected to grow with the highest CAGR of 7.2% during the forecast period.

PORTLAND, OREGON, UNITED STATES – According to a new report published by Allied Market Research, titled, “Destination Management Service Market” The destination management service market was valued at $3.6 billion in 2022, and is estimated to reach $6.9 billion by 2032, growing at a CAGR of 6.8% from 2023 to 2032.

Destination management services involve a variety of professional services offered by DMOs or DMCs to enhance the travel experience. Moreover, owing to growth in awareness regarding environmental & social issues, sustainability and responsible tourism have become destination management service market trends. Travelers increasingly prioritize destinations and destination management service providers that embrace eco-friendly practices, support local communities, and promote sustainable tourism initiatives surge the destination management service market size. Destination management service companies are incorporating sustainability into their offerings, such as eco-tours, community-based excursions, and partnerships with local conservation projects.

DMOs/DMCs offer tailored experiences, handle logistics, promote the destination, and provide assistance & information to ensure a hustle-free & memorable visit. By utilizing their expertise & local connections, destination management service providers strive to optimize the tourist experience and leave a positive impression on travelers surge the destination management service market share.

With increase in awareness about environmental & social concerns, there is rise in demand for sustainable & responsible tourism. Travelers are now seeking experiences that have minimal impact on the environment, contribute to local communities, and preserve cultural heritage. DMOs can take advantage of this trend by integrating sustainable practices into their operations, promoting eco-friendly activities, and collaborating with local stakeholders to ensure responsible tourism.

Modern travelers are looking for tourism beyond traditional sightseeing. As a result, experiential travel, which emphasizes immersive & authentic experiences, is gaining popularity. Moreover, travelers are looking for opportunities to connect with local communities, take part in cultural activities, and acquire new skills. Destination management companies can cater to this trend by curating unique experiences such as culinary tours, artisan workshops, and cultural exchanges that enable visitors to develop a deeper connection with the destination, which results in destination management service market growth.

The travel industry is