Mountain and Snow Tourism Market Eyes US$ 8 Billion Revenue and 5% CAGR by 2033 | FMI

Mountain and Snow Tourism Market

According to FMI’s analysis, the mountain and snow tourist market is expected to increase explosively, with a 5% compound annual growth rate during the predicted period. It is anticipated that the industry would grow to a market value of US$ 4.9 billion by 2023.

Many tourists are opting for snow-clad mountains to beat the summer heat. Tour agencies are introducing innovative amusement categories for tourists, such as sled rides and snow scooter rides, to create memorable experiences for visitors.

Tourism drives rural growth, preserving and promoting the local culture and values. The proliferation of mountain and snow tourism also stimulates the social structure of the respective place for the better by generating employment opportunities for those living therein.

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Customers are positively responding to the tours and packages curated by tour agencies, with good numbers of tourists showing up for a vacation in the mountains.

Over the next ten years, the tourism industry is projected to shift toward a more sustainable approach, keeping in mind an area’s social, environmental, and economic aspects.

Mountain tourism is prioritizing the promotion and growth of wellness and gastronomy. Additionally, the requirement to regulate tourism in the mountains and better manage the resources and waste produced while accounting for destinations’ carrying capacity and authorizing mountain communities is projected to expand market growth prospects.

Snow-clad mountains offer the experience of aesthetic appeal, diverse topography, local traditions, pure air and climate, and snow sports. Therefore, a large count of travelers are traveling to the mountains.

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Top Highlights from the FMI’s Analysis of the Mountain and Snow Tourism Market: 

  • The North American mountain and snow tourism industry accounted for 26% market share in the global market in 2022.
  • The European mountain and snow tourism industry recorded a value share of 22% in the global market in 2022.
  • In the historical period, the United States mountain and snow tourism industry represented 3% of the market.
  • Germany accounted for 4% of the global market share in 2022.
  • Japan’s mountain and snow tourism industry accounted for a 4.7% value share in 2022.
  • Australia’s mountain and snow tourism industry recorded a 5.5% market share in 2022.
  • China’s mountain and snow tourism industry is projected to expand at a CAGR of 5.9% from 2023 to 2033.
  • The Indian mountain and snow tourism industry is expected to experience a stellar CAGR of 6% in the upcoming years.
  • The United Kingdom’s mountain and snow tourism industry is expected to expand at a CAGR of 5.1% over the upcoming period.
  • Based on service type, the trekking segment accounted for 19% market share in 2022.
  • Based on the booking channel, the online booking segment represents a 25% value share.

How are Mountain and Snow Tour Service Providers Gaining a Large Footing in the Market?

Tour agencies and planners are concentrating on promotional tactics, enhancement, and technological advancements within the mountain and snow tourism industry. New merger strategies are also employed to drive more demand for mountains and snow tourism.

Growing focus on sustainable tourism is also projected to impact the market considerably. Companies are coming up with new projects to enhance tourist services, branch out with new categories and offers, and optimize the experience of tourists.

Key Players

  • Veena World
  • Epic Snow
  • Snow Tours
  • Thomas Cook India
  • Trip Advisor
  • Travel Triangle
  • Make My Trip
  • Bookmoutain Tours
  • Flying Fox
  • White Magic Adventure Travel
  • Mountain Watch Travel

Global Mountain and Snow Tourism Market by Category

By Services Types:

  • Skiing
  • Trekking
  • Rides
  • Sledding
  • Snowmobiling
  • Others

By Booking Channel:

  • Online Booking
  • In Person Booking

By Tourist Type:

  • Domestic
  • International

By Tour Type:

  • Independent Traveler
  • Group Trip
  • Family trip

By Consumer Orientation:

  • Men
  • Women
  • Children
  • Children

By Age Group:

  • 15-25 Years
  • 26-35 Years
  • 36-45 Years
  • 46-55 Years
  • 66-75 years

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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