Adventure tourism is a form of travel that includes caving, rock climbing, biking, hiking, hunting, rafting, and others. Tourism is one of the fast growing sectors with adventure tourism being one of its fastest growing segments. Asia Pacific is one of the most popular travel destinations as it offers great scenery, good food and accommodation options
NEWARK, Del., Aug. 05, 2022 (GLOBE NEWSWIRE) — A recent study by Future Market Insights projects that the global adventure tourism market will grow at a CAGR of 16% from 2022 to 2032. By the end of said valuation period, the market is expected to be valued at $1,484.01 billion. Adventure tourism is gaining momentum due to the thriving travel industry around the world. In addition, attractive travel packages, the increase in domestic and international flights, and the availability of easy online bookings are positively affecting the demand for adventure tourism.
From 2017 to 2021, the industry saw remarkable growth, registering a CAGR of 10% and closing at $290 billion. The COVID-19 pandemic has affected the adventure tourism market due to the non-functioning of the airline industry. Therefore, post-pandemic adventure tourism companies are offering special and customized trips to different parts of the world. In addition, the proliferation of user-friendly websites along with easy booking systems is driving revenue for the adventure tourism market.
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Europe, Asia Pacific and North America are the largest contributors to the adventure tourism market. This is due to the provision of recreational activities such as scuba diving, rafting, camping and trekking offered by various travel and tourism industries. As more local companies have entered the market, opportunities to explore new geographic locations have expanded. Adventure tourism not only relies on recreation, but also does so in a sustainable way. This in turn attracts people to invest in the same.
Tourism was hit hard after the COVID-19 incident in 2020. It caused severe disruption to the growth of the tourism industry. The industry experienced a sudden halt in international attendance, mobility restrictions and rising health and safety concerns. The aviation industry suffered the most damage along with the travel industry in the country. Volatile border closures and a sharp drop in demand resulted in a 95% drop in passenger numbers. The hospitality industry also suffered the same drop in sales due to the advent of the pandemic. All of this decisively reduced the growth of the tourism industry, which led to a significant drop in sales
Important insights from the market study
By activity type, soft adventures are expected to have a 60% market share in 2022
Direct adventure tourism booking is expected to account for 60% of sales in 2022
Europe is projected to have a 35% market share in adventure tourism by 2022
Asia Pacific is projected to own 30% market share for adventure tourism market in 2022
North America is projected to achieve a 25% market share for adventure tourism in 2022
The global market value of adventure tourism is expected to quadruple between 2022 and 2032
“The growth of travel industry in different geographic locations, cheaper flights, aggressive advertising by travel companies are positively impacting the adventure tourism market,” says an FMI analyst.
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Key segments profiled in the Adventure Tourism Market industry survey
Adventure Tourism Market by Activity Type:
Gentle adventure tourism
Hard adventure tourism
Adventure Tourism Market by Group:
Adventure tourism for groups
Adventure tourism for families
Adventure tourism for couples
Adventure tourism for solo travelers
Adventure Tourism Market by Booking Mode:
Direct booking of adventure tourism
Booking adventure tourism through travel agencies
Marketplace adventure tourism booking
Adventure Tourism Market by Age Groups:
Adventure tourism for 28 and under
Adventure tourism from 29-40
Adventure tourism from 41-50
Adventure tourism from 51-60
Adventure tourism from 61-70
Adventure Tourism for 71 and Over
Key players in the adventure tourism market are Intrepid Group, Ltd., Mountain Travel Sobek, G Adventures, Geographic Expeditions Inc., Discovery Nomads, Row Adventures, Austin Adventures, Inc., Butterfield & Robinson Inc., Tui Group, Cox & Kings GmbH .
In May 2022, Intrepid Group, Ltd. $7.85 million in CABN to expand off-grid experiences in Australia. Through this investment, the company plans to deliver more than 70 off-grid sustainable cabins nationwide by 2023.
In March 2022, Austin Adventures, Inc launched three summer trips for 2022. These trips allow tourists to travel to Jackson Hole Adventure, British Columbia Hut to Hut Hiking Adventure, and Galapogas Family Vacation.
More insights available
Future Market Insights presents in its new offering an unbiased analysis of the global adventure tourism market with historical analysis from 2017-2021 and forecast statistics for the period 2022-2032.
The study reveals key insights based on type (hard and soft), group (solo, couples, family, groups), booking mode (direct, travel agency, marketplace booking), age group (under 28, 29-40, 41-50, 51 -60, 61-70, 71 and older), in five major regions (North America, Latin America, Europe, Asia Pacific, and Middle East and Africa).
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Table of Contents
1.1. Important Findings
1.2. Summary of Statistics
1.3. Market Characteristics and Attributes
2. Market Overview
2.1. Introduction and Definition
2.2. research area
3. Market background
3.1. Country-related market attractiveness index
3.2. Scenario-Based Forecast for the Adventure Tourism Market
3.3. Analysis of the value chain
4. Global Adventure Tourism Market Price Analysis
4.1. Evaluation of the price point
4.1.1. Weighted average price (2020), by region
4.1.2. Key factors affecting pricing
4.1.3. Price benchmark by region
4.1.4. Price benchmark by activity type
Click here for the 295-page Adventure Tourism Market TOC Report
Via the Travel & Tourism Division at Future Market Insights
Future Market Insights’ travel and tourism team provides expert analysis, time-efficient research, and strategic recommendations with the goal of delivering authentic insights and accurate results to serve clients worldwide. With a repertoire of more than 100 reports and more than 1 million data points, the team has been analyzing the industry in more than 50 countries for over a decade. The team provides a brief analysis of key trends, including competitive landscape, profit margin, and research development efforts.
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