Himalayan Tourism Market Surges to US$ 3.26 Billion, Anticipating a 5% Compound Annual Growth Rate by 2032 | FMI

The Himalayan tourism market is poised to reach a valuation of US$ 2 Billion in 2022. Sales are projected to increase at a 5% CAGR, with the market size reaching US$ 3.26 Billion by 2032.

Himalayan Tourism appears resilient against pandemic. Even though about 80% reduction of the tourists visiting Himalayas in 2020, the tourism sector was capable quickly recover and welcome tourists coming after a year’s gap.

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The tourists from all around the world come and visit Himalayas to observe the scenic beauty including forests, farms, lakes, mountains and fields. Along with sightseeing, there are number of adventure sports and activities to perform, from treks, rock climbing to kayaking and river rafting and safaris. There are also cultural heritages with Hindu temples and Buddhist Monasteries in districts surrounding Himalayas.

The Himachal Tourism working with Government of Himachal are proposing new ideas related adventure activities, schemes and loans for Hospitality sector, encouraging local entrepreneurs to enter in Himalayan tourism sector.

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Key Takeaways:

• Based on tourism type, ecological/sustainable tourism is popular among international as well as domestic travellers.
• By booking channel, the online booking segment is preferred by most travellers.
• In terms of age group, individuals from age group of 26-35 are most common travellers to Himalayas.
• COVID-19 affected 80%(Dip) sales in this market.

Impact of COVID-19 on the Himalayan Tourism Market

As the COVID-19 pandemic brought restrictions of travelling and tourism all around the world, the absence of tourists had a severe impact on the Himalayan tourism industry.

In 2019, about 1,72,12,107 tourists (domestic and international) visited Himalayas and the number indicated 4% growth in tourists than 2018. But, in 2020, this number decreased by 81%, 32,13,379 tourists in the year. This decrease was due to restrictions on public gathering and travelling, along with closed borders of multiple countries to contain and eliminate the virus. (Figures by https://himachaltourism.gov.in/)

Even after observing such decline in tourists, 2021 observed 75% increase in tourists, as there were less restrictions and public was allowed to travel to other countries. Such increase in tourists is promising the recovery of tourism sector in Himalayas, opening doors for development, new opportunities and unexplored challenges.

Get More Valuable Insights

Future Market Insights, in its new offering, provides an unbiased analysis of the Himalayan Tourism market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.

The study divulges compelling insights on the Himalayan Tourism market based on the tourism type (cultural & heritage tourism, eco/sustainable tourism, adventure & sports tourism, wellness tourism & others), booking channel (phone booking, online booking & in person booking) tourist type (domestic & international), age group (15-25 years, 26-35 years, 36-45 years, 46-55 years, 66-75 years) across Asia.

Key Companies Profiled

• Himalayan Tours
• Himalaya Travels
• Himalayan Tour Operators & Travel Agents
• Enchanting Travels
• Himalayan Holidays
• Sherpa Expedition and Trekking Pvt. Ltd.
• Trafalgar
• G Adventures
• Explore!
• Nepal Hiking Team
• Himalaya Heart Treks & Expedition