Intrepid is the only operator and experience provider named in this year’s list, which also features market leaders in their respective sectors such as Apple, Disney and Patagonia.

“People want to travel more responsibly – both environmentally and socially – and business is booming for the certified B Corp," said Time. "The carbon-neutral company was the first global tour operator to establish verified, science-based carbon-reduction targets."

James Thornton, Intrepid chief executive, said: “This honour is a testament to the power of travel; not only does exploring the world provide thought-provoking, incredible, fun experiences – it also has the power to transform our world and create more resilient communities.

"This proves that our style of locally-led, small-group adventures is no longer a ’niche’. Our way of travelling is actually helping to shape the future of travel. As an industry, we can support more responsible travel habits and make a substantial difference by using our collective power, influence and voice to help make the world a better place."

Time’s list is based on nominations from its global network of contributors and correspondents, as well as outside experts. Its editors then assessed each on factors including impact, innovation, ambition and success.