Wine tourism gets due attention, at long last
Emerging wine regions in countries like India, China, and Eastern Europe are gaining attention
image for illustrative purpose
The 7th edition of the UNWTO conference welcomed thought-leaders from both emerging and established wine destinations. As well as celebrating the growing interest in wine tourism, the event made clear the challenges for building more competitive destinations and transforming demand into economic growth and social inclusion
Tourism has again been identified as a key driver of economic recovery and growth in a new report by the International Monetary Fund (IMF). With UNWTO data pointing to a return to 95% of pre-pandemic tourist numbers by the end of the year in the best case scenario, the IMF report outlines the positive impact the sector’s rapid recovery will have on certain economies worldwide.
According to the World Economic Outlook (WEO) Report, the global economy will grow at an estimated 3% in 2023 and 2.9% in 2024. While this is higher than previous forecasts, it is nevertheless below the 3.5% rate of growth recorded in 2022, pointing to the continued impacts of the pandemic and Russia's invasion of Ukraine and cost-of-living crisis.
Unlocking excellence in wine tourism: As per the latest findings of Future Market Insights, global wine tourism revenue is expected to be $ 85,145.2 million by the end of 2023. In the long-term, its market is estimated to reach around $ 292,538.4 million in 2033.
The future outlook for the wine tourism market appears promising, with several factors shaping its growth. As travel restrictions ease post-pandemic, there is an expected recovery in the tourism industry, including wine tourism, which is expected to grow at a 13.1% CAGR. Travellers are increasingly seeking authentic and experiential travel experiences, driving the demand for immersive wine tourism offerings. Emerging wine regions in countries like India, China, and Eastern Europe are gaining attention. Sustainability and responsible tourism practices are becoming more important, and wineries are adopting eco-friendly measures.
Technology and digital platforms are likely to play a larger role in enhancing the wine tourism experience. Niche and specialized segments within the market may emerge to cater to specific interests. Collaboration and partnerships between wineries, tour operators, and tourism boards can create comprehensive wine tourism experiences. However, it's important to consider that market dynamics can be influenced by various factors, and the actual trajectory of the wine tourism market may differ from projections. Wine tourism is a growing segment of the global tourism industry, driven by increasing interest in wine and unique travel experiences. Popular destinations include traditional wine-producing regions like France, Italy, Spain, and the United States, as well as New World wine regions. Wine tourism offers a range of experiences such as winery tours, tastings, festivals and workshops.
It has a significant economic impact, contributing to job creation and local business growth. Wine regions are investing in tourism infrastructure to enhance the visitor experience. Wine education and sustainability are important aspects of wine tourism. While the Covid-19 pandemic did affect the industry, it is expected to regain momentum as travel restrictions ease.
The 7th edition of the UNWTO conference welcomed thought-leaders from both emerging and established wine destinations, including Argentina, Armenia, Chile, France, Germany, Portugal, South Africa, Spain, and the United States of America. As well as celebrating the growing interest in wine tourism, the event made clear the challenges for building more competitive destinations and transforming demand into economic growth and social inclusion. Over two days, workshops and master classes focused on:
Skills development and a better understanding of the impacts and trends of wine tourism were identified as crucial elements to create value and promote wine regions, ultimately enhancing their competitiveness.
With the impact of climate change affecting the sector, experts debated how to progress sustainability in wine tourism as well and progress digitalization for better processes.
Participants discussed the need to harmonise data collection, the use of new data sources and innovative strategies for expanding new products, outreach on social media, utilizing cutting-edge digital tools, and leveraging new technologies, including Artificial Intelligence, to create knowledge and a seamless experience.
Inclusion and sustainability: Creating partnerships for growth Navigating the complex network of stakeholders in wine tourism, the event also put the spotlight on the importance of having national and local wine tourism strategies while fostering the debate on new, innovative forms of collaboration. A series of masterclasses allowed participants from over 40 countries to exchange and expand their knowledge on the links of wine tourism with gastronomy, arts and culture, communication and branding, new technologies, product development and sustainability.
During the closing ceremony, La Rioja handed over the symbolic amphora to Armenia, marking the country’s status as the next host for the 8th UNWTO Global Conference on Wine Tourism in 2024.
