Global Adventure Tourism Market Overview
The key driver impacting the adventure tourism market is the expanding tourism industry, with an increasing number of travelers who like to travel to new destinations across the globe. For instance, According to the World Travel and Tourism Council, the Travel & Tourism sector experienced a 3.5% rise in 2019. It added around US$8.9 trillion to the world's GDP and 10.3% to worldwide GDP. The United Nations World Tourism Organization (UNWTO) report estimates that internationally there were just 25 million tourist arrivals in 1950, which climbed to 1.4 billion international arrivals per year. It shows a 56-fold growth. Earlier, Asia Pacific did not have much importance as a tourist destination, but in 2018, every fourth tourist arrived in the region. Moreover, increasing adventure trips with groups or solo or couples worldwide contributes to adventure tourism market demand in the coming years.
According to Value Market Research, the global Adventure Tourism market size was valued at about USD 550 million in 2020 and is estimated to grow at a CAGR of around 13.3% during the forecast period 2021 to 2027.
The growing tourism promotional activities by the government of several countries are likely to augment the demand in the forecast period. For instance, in Nov 2020, The Indian Ministry of Tourism has promoted adventure tourism in India by the ‘DekhoApnaDesh' webinar series titled“12 Months of Adventure Travel. The webinar virtually shows the enormous strength, potential, and the buried secrets of India. It covers forests, mountains, rivers, mangroves, deserts, islands, wildlife, canals, and more than 31 adventure activities that will enchant an Indian and an abroad traveler. However, unpredictable weather patterns may hamper the market in the long run. Also, the high cost associated with adventure activities is negatively impacting the market. Nevertheless, the current industry trends, such as the rapidly increasing social media advertising through various platforms such as Youtube, Facebook, Instagram, and others, and growing investment in the tourism sector are expected to offer several beneficial market opportunities to the key players.
The Adventure tourism market is vast, with many local and global players. The Adventure tourism market is extensive, with many regional and international players. The prominent market leaders follow several strategies to improve their market status, such as extending product portfolio, acquisitions, contracts, acquisitions, amalgamation, acquisitions, product upgrades to mount their market share across the globe. For instance, in January 2020, Austin Adventures establish a multisport and family adventure travel company that presented eighty-plus trips across all seven continents, including a trip for each month in a year. The prominent players studied in the report include Austin Adventures, Inc., G Adventures Inc., Mountain Travel Sobek, ROW Adventures, TUI REI Adventures, TUI AG., InnerAsia Travel Group, Inc., Intrepid Group Limited, Abercrombie & Kent Group of Companies S.A, and Butterfield & Robinson Management Services, Inc.
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In this research report, the adventure tourism market is segmented by type, activity, and region.
Analysis by Type:
By type, the report is categorized into soft adventure and hard adventure. The public segment dominates the type segment with over 35% share in 2020. It is due to a rising preference for soft adventure tourism activities such as trekking, biking, skiing, boat tours, wildlife viewing by people across the globe. Moreover, these activities possess moderate to low risks and thus attract a large customer base, contributes to the growth of the depot charging segment in the forecast period.
Analysis by Activity:
By activity, the report is categorized into water-based activity, land-based activity, and air-based activity. The land-based activity segment dominates the activity segment with over 40% share in 2020. It is due to the increasing inclination towards land-based activities such as wildlife, trekking, jeep safaris, and bird watching among individuals. Moreover, it requires less skill than water-based and air-based activities., which contributes to the growth of the land-based activity segment in the forecast period.
Analysis by Region:
In the regional outlook of the global Adventure tourism market, the Europe region dominates globally with a 30% market share in the forecast period. It is due to the well-developed tourism sector and high preference to visit countries in these regions among travelers in the region. Moreover, countries like Germany are the key market for adventure tourism, and the presence of several historically significant nations, languages, cultures, and range of cuisine contributes to tremendous market growth across Europe.
Market Segmentation covered in the Report:
By Type
- Soft Adventure
- Hard Adventure
By Activity
- Water-based Activity
- Land-based Activity
- Air-based Activity
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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