MKT8055 25 OCT JEETU CANADA

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ECOTOURISM INDUSTRY 1 IA2: Market Research Analysis Ecotourism Industry MKT8055: Sustainable Marketing & Consumerism Conestoga University

ECOTOURISM INDUSTRY 2 1. INTRODUCTION After global COVID-19 lockdowns, people are eager to start the world again and wish to travel because they are bored at home. Ecotourism is growing. This market analysis was done by sustainable marketing expert HYPE Consultants for Green World Pvt Ltd., which plans to enter eco-tourism next year. Ottawa will house Green World Pvt. Ltd. Eco-tourism's Canadian commercial potential and appeal will be studied. Evaluation after market research. Travelers to Thailand, Vietnam, Mexico, and South Korea can use Green World Pvt Ltd services. We include hotel, tour, and car rental. Due to the US-Canada strong relationship, their economic development in Canada is crucial. They value sustainability in business and service. They succeed in all four countries due of their ecotourism reliability. Energy-saving innovations made Green World Pvt Ltd famous. Elevators and lobby use clean electricity. They offer great prices and promote environmental awareness. Some schemes let guests plant trees or earn hotel points for less housework. The organization promises clients have fun while saving the environment. The firm does this for client retention. 2. MARKET OVERVIEW Current market Size: Tourism spending is expected to reach $104.9 billion, employ 1 in 10, and generate $43.5 billion in GDP in 2019. Travel trends change estimates. Recent hospitality trends inform these predictions. Predictions for hospitality. The GDP contribution of tourism to Canada is shown. Projected future annual growth rates and market size : Analysts predict these annual growth rates. This list includes: The 2027 forecast is $333.8 billion, up 14.3% from 2021. 2021–

ECOTOURISM INDUSTRY 3 2027 increase expected. This expansion should last until 2027. The table shows Canadian tourism's billion-dollar GDP contribution from 2000 to 2019: 3. MARKET ENVIRONMENT, OPPORTUNITIES AND RISKS Environmental damage from tourism. Remote locations are only accessible by air, automobile, or boat. Noise, air, and soil pollution from these mediums is immense. Effective tourism promotion strengthens economies. Political upheaval, terrorism, and other factors may hinder tourism. This is excellent or terrible depending on the situation. Technology impacts tourism worldwide. Bug-filled websites and mobile apps make it hard to attract and keep customers. Customers now understand that the price includes lodging, activities, and booking technology. Internet booking prices are growing. Clients want a simple website or app to book services. People may hate newcomers in their regions. Many governments allow it. All explorers find ways. Tourist pollution plagues indigenous people daily. Guests should help the

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ECOTOURISM INDUSTRY 4 environment. Many locals enjoy meeting tourists because they learn their traditions. Conditions hurt tourism and hospitality. 4. INDUSTRY ATTRACTIVENESS Threat of new entrants (5- Very high): Threat of another contestant in the travel industry is extremely high because of restricted suppliers of visits, exercises, rentals at efficient cost. It requires less investment to dissect the business' future in a specific and don't bother spending large add up to assemble the economic situation. Threat of Substitute products (4- High): There are normally more chances to begin another business and fill in the Travel industry, Relaxation, and Neighbourliness industry. Another organization chain could disintegrate the customer base with a recently evolved web-based technique or showcasing effort. Buyer Power (4- High): Purchasers may now effectively investigate the best association that offers superb types of assistance by going on the web. They needn't bother with the assistance of travel services, business travel specialists, or some other sort of mediator to sort out where they'll get their administrations. Competitive Rivalry (5- Very High): At the point when potential clients find about a lodging on the web, the web limits the hole between contenders. Finance managers are inclined to looking for the best valuing for the best insight, and to bringing costs down to a cutthroat level. Since the travel industry business

ECOTOURISM INDUSTRY 5 traverses an enormous geographic region, the market is broadened, bringing about an expansion in the quantity of opponents. Supplier Power (2- Low): Albeit this is certainly not a critical risk to the travel industry, recreation, and friendliness business, it can have repercussions, especially in the field of providers. Providers help more strength through contest for their proposals as their things are more popular by a bigger number of organizations. Overall Industry attractiveness: 4 (Average of all ratings) 5. CUSTOMER ANALYSIS Who are the customers? Demographic: Skift and Student Universe discovered $320 billion in foreign student tourism, 20% in 2014. International students comprise 20% of immigration. Say a student trip costs $600. Read Skift and Student Universe's report. Students spend $600 on learning excursions. Previous sentence. Generation Y: Over-30 travelers rose from 10% to 17% from 2007 to 2008. Under-30 travelers fell least. Few Generation X under-30 tourists died. Completed 2007–2008 expansion. Psychographic: Unlike demographics, psychographic segmentation identifies persons by their inner traits. Demographic segmentation groups people by appearance. Rebuts claim psychological absorbability is hidden. Social status, ethics, and behavior are included client purchases are more influenced by internal factors than demography. Psychographics attract

ECOTOURISM INDUSTRY 6 travelers, not demographics client qualities determine desirability. Product may be popular not demographics, but psychographics dictates attractiveness. Behavioural: Studies show that 20- to 30-year-olds book the most overnight stays and out-of-home events. As long as the merchant provides great or good service, people will keep buying their favorite brand. Needs/Wants/Issues: Customers want easy service from their source. A XYZ hotel and outdoor activities customer expects no amenity or cleaning issues. Customers want timely service and good hospitality for outdoor activities. Factors Influence Their Buying Decision: Personal, social, situational, and economic factors affect consumer behavior. Value, motivation, expectations, perceptions, satisfaction, trust, loyalty, technology, group and collaborative decision making, cross-cultural issues, and emotions affect customer purchases. Best Ways To Inform / Communicate With Consumer: Here are a few viable routes through which a travel industry organization can advance their items:  Feature primary attractions  Center around marking (ad)  Look for associations  Make a convincing objective site  Use Search engine optimization standards (Computerized Showcasing)

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ECOTOURISM INDUSTRY 7  Commitment advertising  Draw in Forces to be reckoned with How does your product/service meet their various above needs and buying behaviours? Green World Pvt Ltd chooses the greatest home stay, outdoor activity, and rental car deals for a great holiday. Enjoyable for customers experience is unique and memorable with low rates and a simple mobile app are Green World Pvt Ltd.’s greatest customer acquisition methods. Strategy mix works is the best client acquisition method streamline booking with minimum client interaction client migration is predicted. Customers and providers must produce government-issued IDs for environmental protection. Customers and service providers must comply defines uniqueness no one worries about booking or serving an unknown client because identity verification is hard can verify ID due to their riddles. 6. COMPETITIVE ANALYSIS The 2019 Tourism Human Resource Module lists 1.9 million full-time jobs, 10% of all Canadian jobs, however ecotourism enterprises are unknown. Tourism added 748,000 employments in Canada. 5 Canadian green tourism firms: 1. Victoria-based Eagle Wing Tours whale-watching: First carbon-neutral whale- watching company in Canada and 1% for the Planet member. 2. Island Lake Lodge (Fernie, BC): The Lodge is in Fernie, a beautiful mountain town in southeast British Columbia. Breanne Springs' two flow-through hydro turbines generate all their electricity and monitor Island Lake aquatic life.

ECOTOURISM INDUSTRY 8 3. Solar panels purify Fogo: Island Inn toilet, laundry, and appliance water. The inn's restaurant serves Fogo Island meals, and local artists' Woodshop furnishings embellish all rooms. 4. Victoria's Maple Leaf Adventures lack pollutants: Maple Leaf preserves a fourth of the coastal temperate Great Bear Rainforest. Maple Leaf sponsored the Raincoast Conservation Foundation $100,000 over ten years. 5. Marriott luxury hotel Westin Ottawa (ON): Hotels have pioneered local conservation energy-efficiency solutions for over a decade. Bullfrog Power, Canada's largest green energy provider, powered Westin Ottawa's elevators, lobby, and 500 rooms' LED lighting with 100% emissions-free electricity. 7. CONCLUSIONS AND RECOMMENDATIONS A thorough market analysis shows that Canadian ecotourism is profitable. Evidence and arguments support this. Canadian territory is the second largest in the world despite its sparse population. Offering discounts on trips to natural sites of their choice may attract tourists and make visits more appealing. Branding and advertising can enhance sales after the outbreak because people want to go. Travel is popular after the pandemic. Others may compete with us, but they cannot stop a new Canadian tourism enterprise from succeeding. The 2017 World Happiness Report rated Canada 15th, demonstrating its capacity to attract visitors. Product branding may benefit this sector. Canada had 18.6 million foreign tourists in the first 10 months of 2018, a record. It is 1.2% greater than 2017, when 17.8 million entered. Canada's tourist business employs 1.8 million, up 1.2% from 2017. About 1.8 million Canadians work in tourism.

ECOTOURISM INDUSTRY 9 References Destination Canada. (n.d., para. 1). Retrieved from https://www.destinationcanada.com/en/news/canada-experiences-third-consecutive- record-breaking-year-tourism-2019 EIN Presswire. (2021). Eco-Tourism Market Size. Retrieved from https://www.einnews.com/pr_news/548404192/ecotourism-market-size-is-projected-to- reach-333-8-billion-by-2027-registering-a-cagr-of-14-3-from-2021-2027 Groups Today. (2016). Travel Trends by Age Demographic. Retrieved from https://groupstoday.com/business/404-travel-trends-by-age-demographic Kolb, B. (2006). Tourism Marketing for Cities and Towns: Using Branding and Events to Attract Tourists. Retrieved from https://www.globalspec.com/reference/47109/203279/psychographic-segmentation Moioli, J. (2021). 5 Canadian companies that are making a difference in sustainable tourism. Retrieved from The Starfish: https://thestarfish.ca/journal/2021/02/5-canadian- companies- that-are-making-a-difference-in-sustainable-tourism-2 Toursim HR Canada. (n.d. 7th point). Toursim Facts. Retrieved from https://tourismhr.ca/labour- market-information/tourism-facts/ UKEssays. (2018). Five Forces Analysis of the Leisure, Tourism and Hospitality Industry. Retrieved from https://www.ukessays.com/essays/tourism/the-tourism-leisure-and- hospitality-industry- tourism-essay.php?vref=1

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ECOTOURISM INDUSTRY 10 APPENDICES PESTEL ANALYSIS PESTEL Factors (under each category, briefly state the factors that affect your industry/market; add rows as needed) Opportunities (created/expected for your organization) Threats/Risks (created/expected for your organization) Political-Legal In some countries, local government help their tourism companies to promote the tourism of that area, which can generate income for that country and help in fixing their economy Political instability in a country can ruin their chances of expanding tourism in their country and which impacts their economy Economic Tourism can drive the economy of a country if they are promoting it in a right way Terrorist attack or criminal acts in a country can the economic risks for tourism industry Socio-cultural (incl. Demographic) In many cultures, native people welcome tourists with warm welcome, there’s scope of increasing tourism Cultural heritage protection must be considered while operating in the tourism industry

ECOTOURISM INDUSTRY 11 in those areas Technological Technology helps in reducing cost, enhance operational efficiency, improve services and customer experience One of the disadvantages of technology for tourism industry is unemployment. Risk of losing customer is another factor if technology is not user-friendly. Environmental It creates awareness in the tourists regarding the environment and they can learn best practices of the host country to preserve the environment. Over consumption of natural resources of the host country

ECOTOURISM INDUSTRY 12 PORTER’S FIVE FORCES

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ECOTOURISM INDUSTRY 13 TOP COMPETITOR PROFILES Top 1 Competitor Name Top 2 Competitor Name Company name Eagle Wing Tours Island Lake Lodge Major locations - for manufacturing/operations and sales/distribution Victoria, BC Fernie, BC Company size - annual sales revenue $, number of employees and/or supply capacity 28 employees 7 employees Market position - rank and/or market share 1 2 Profitability – gross and net margin % (if data available) Growth rates – past and projected future Product lines/types/categories (all, including your products/services) Wildlife watching (Whales via Boat) Catski, Stay Unit selling prices (for your product/service) CVP (customer value proposition), USP (unique selling points), product/technology differentiation and/or salient features Marketing strategies – target markets and positioning in terms of 4Ps Company/product/service

ECOTOURISM INDUSTRY 14 strengths and weaknesses Projected future annual growth and market size (in billion Canadian Dollars):

ECOTOURISM INDUSTRY 15

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MKT8055 25 OCT JEETU CANADA

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