The Global Adventure Tourism Market was valued at US$ 292 billion in 2022, while it is predicted that it would rise at a CAGR of 16.2% to reach US$ 1,491.5 billion by 2033. The growing popularity of adventure travel as well as affordable airfares may be contributing factors to the market’s expansion.
Worldwide travel businesses have introduced quick, responsive websites that are easy to use on smartphones. Reviews from other users, video 360-degree tours, and a straightforward pricing comparison are some of the services offered here. It aids travelers in developing a better understanding of the advantages, destinations, and sights they prefer to visit. This has increased consumer interest in booking and organizing vacations online, which, in turn, forecasts profits for the adventure tourism sector as a whole. Growing internet usage helps people and travel agencies choose, acquire, and provide the best vacation spots at reasonable costs.
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The market for adventure tourism is driven by a rise in demand for unique and authentic travel experiences. Social media, accelerated urbanization, rising disposable income, as well as low-ticket pricing, significantly influence this. The major participants in the industry collaborate with marketing companies to boost interest in adventure travel around the globe through Internet advertising, giving them access to high-value clients. Government organizations in a number of nations are also encouraging adventure tourism since it creates job possibilities and aids in local development. Adventure tourism is anticipated to grow in popularity globally.
Key Takeaways from the Market Study
- Sales increased significantly between 2018 and 2022, with a CAGR of 11.1%.
- In 2022, it was predicted that the soft adventure sector would hold 62.5% of the overall adventure tourism industry.
- In 2022, the direct booking method had a 65% revenue share, accounting for the greatest revenue share.
- In 2022, it was predicted that the Asia Pacific would account for 30.5% of the global market for adventure travel.
- The market for adventure travel in Europe was projected to have 35.5% of the market share in 2022.
- In terms of market share for adventure travel in 2022, North America is predicted to have 25.9% of the market.
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“The demand for the service is being driven by the robust rise that the adventure tourism sector saw and the associated expenditure that resulted from the increase in passengers in recent years,” remarks an FMI analyst.
Competitive Landscape
The leading market companies are committed to producing innovative products and act rapidly to finalize mergers and acquisitions. A competitive climate for new market entrants is being created by the leading industry participants’ rising innovation.
Prominent 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 Ltd.
Some key developments of the leading companies in this market are:
- In 2021, Wilderness England announced a brand-new adventure holiday package to let travelers see England’s National Parks and wildest areas. In some of the most renowned and remote parts of the country, such as the Lake District, Cotswolds, Peak District, Yorkshire Dales, as well as Northumberland, the program will launch with 17 all-new trips. Even Wales will be breached for leisure and cultural pursuits. The sole options to stay are in little inns and motels that provide excellent customer service and scrumptious local food.
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More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global adventure tourism market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the adventure tourism market, the market is segmented on the basis of activity type (soft and hard), group (groups, family, couples and solo travelers), age group (28 and under, 29-40, 41-50, 51-60, 61-70, 71 and over), by booking mode and across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and Middle East and Africa)
About the Travel and Tourism Division at Future Market Insights
The travel and tourism team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
Key Segments Profiled in the Adventure Tourism Market
By Type:
- Soft
- Hard
By Group:
- Groups
- Family
- Couples
- Solo Travellers
By Booking Mode:
- Direct
- Travel Agents
- Marketplace
By Age Group:
- 28 and Under
- 29-40
- 41-50
- 51-60
- 61-70
- 71 and Over
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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