Adventure Tourism Industry Analysis Report 2024: Global Market to Reach $739.656 Billion in 2028 from $351.57 Billion in 2024 - Long-erm Forecast to 2033
Adventure Tourism Market
Dublin, Sept. 26, 2024 (GLOBE NEWSWIRE) -- The "Adventure Tourism Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The adventure tourism market size has grown exponentially in recent years. It will grow from $292.68 billion in 2023 to $351.57 billion in 2024 at a compound annual growth rate (CAGR) of 20.1%. The adventure tourism market size is expected to see exponential growth in the next few years. It will grow to $739.56 billion in 2028 at a compound annual growth rate (CAGR) of 20.4%.
Adventure tourism attracts thrill-seekers and individuals seeking unique experiences in natural environments, often requiring specialized skills, equipment, and sometimes guidance from experienced professionals. The growth during the historic period can be attributed to several factors, including rising disposable incomes globally, increasing interest in sustainable and eco-friendly travel options, the growing popularity of outdoor activities and adventure sports, expanding global connectivity and ease of travel, and a rising consumer preference for experiential travel over material possessions.
The growth in the forecast period can be attributed to several factors, including the growing demand for unique and off-the-beaten-path experiences in travel, an increasing adoption of adventure tourism by older demographics seeking active and enriching experiences, rising awareness and participation in adventure travel among emerging markets, the expanding availability of adventure tourism packages and operators catering to diverse preferences, and a rise in multi-generational adventure travel experiences.
Major trends expected in the forecast period include advancements in technology that enhance safety and accessibility in remote areas, a shift towards personalized and customized adventure travel experiences tailored to individual preferences, the integration of digital platforms for easier booking and planning of adventure trips, the emergence of new adventure tourism destinations and unique experiences, and a heightened focus on sustainable practices and responsible tourism within the adventure travel sector.
The growth of the adventure tourism market is expected to be driven by the expanding influence of social media. This influence encompasses user-generated content, influencers, and the impact of social media platforms on people's decisions and behaviors. The widespread adoption of smartphones, the popularity of social media platforms, and the rise of influencers who create engaging travel content all contribute to this expansion. In adventure tourism, social media influence is utilized to inspire and attract travelers to engage in adventurous activities and explore unique destinations.
For example, the Influencer Marketing Factory reported in May 2023 that the influencer marketing industry, part of the broader creator economy, reached a valuation of approximately $21.1 billion, with significant growth since 2021. This reflects the increasing impact and value of social media in shaping travel trends and preferences, thereby driving growth in adventure tourism.
Leading companies in the adventure tourism sector are innovating with strategies such as discount passes to enhance their competitive position. These passes offer reduced prices on activities or services, aiming to attract customers and boost sales within specific timeframes. For instance, Arabian Adventures launched The Adventure Pass in June 2023, providing up to 40% savings on popular attractions in Dubai and the UAE. Available in flexible 3 or 5-activity packages at fixed prices, the pass offers convenience and accessibility through the Smartvisit app, which features real-time availability, instant confirmations, and personalized itineraries to streamline booking processes.
In January 2022, Intrepid Travel acquired Wildland Trekking, strengthening its presence in the U.S. domestic travel market and expanding its portfolio of sustainable adventure trips. Wildland Trekking, known for its hiking and trekking tours, enhances Intrepid Travel's offerings in adventure tourism, catering to travelers seeking immersive and environmentally conscious travel experiences.
Europe was the largest region in the adventure tourism market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the adventure tourism market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the adventure tourism market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The main categories of adventure tourism include soft and hard adventures. Soft adventure involves relatively gentle or low-risk outdoor activities that offer participants a sense of exploration and excitement without extreme physical exertion or significant danger. These activities can be land-based, air-based, or water-based and cater to groups such as families, couples, and solo travelers. Booking options typically include direct bookings, travel agents, and online marketplaces.
The adventure tourism market research report is one of a series of new reports that provides adventure tourism market statistics, including adventure tourism industry global market size, regional shares, competitors with a adventure tourism market share, detailed adventure tourism market segments, market trends and opportunities, and any further data you may need to thrive in the adventure tourism industry. This adventure tourism market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Key Attributes:
Report Attribute | Details |
No. of Pages | 175 |
Forecast Period | 2024 - 2028 |
Estimated Market Value (USD) in 2024 | $351.57 Billion |
Forecasted Market Value (USD) by 2028 | $739.56 Billion |
Compound Annual Growth Rate | 20.4% |
Regions Covered | Global |
Competitive Landscape and Company Profiles
REI Adventures
Overview
Products and Services
Strategy
Financial Performance
TUI AG
Natural Habitat Adventures
G Adventures Inc.
Abercrombie & Kent USA LLC
Adventure Tourism Market Other Major and Innovative Companies
Intrepid Group Ltd.
Backroads
Butterfield & Robinson Inc.
World Expeditions
GeoEX
Mountain Travel Sobek
Exodus Travels
Austin Adventures Inc.
Thomson Family Adventures
ROW Adventures
KE Adventure Travel
Wild Frontiers Adventure Travel Ltd.
Cox & Kings Ltd.
Discovery Nomads
AdventureWomen
Key Topics Covered:
1. Executive Summary
2. Adventure Tourism Market Characteristics
3. Adventure Tourism Market Trends and Strategies
4. Adventure Tourism Market - Macro Economic Scenario
4.1. Impact of High Inflation on the Market
4.2. Ukraine-Russia War Impact on the Market
4.3. COVID-19 Impact on the Market
5. Global Adventure Tourism Market Size and Growth
5.1. Global Adventure Tourism Market Drivers and Restraints
5.1.1. Drivers of the Market
5.1.2. Restraints of the Market
5.2. Global Adventure Tourism Historic Market Size and Growth, 2018-2023, Value ($ Billion)
5.3. Global Adventure Tourism Forecast Market Size and Growth, 2023-2028, 2033F, Value ($ Billion)
6. Adventure Tourism Market Segmentation
6.1. Global Adventure Tourism Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Soft
Hard
6.2. Global Adventure Tourism Market, Segmentation by Activity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Land-Based
Air-Based
Water-Based
6.3. Global Adventure Tourism Market, Segmentation by Group, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Groups
Family
Couples
Solo Travelers
6.4. Global Adventure Tourism Market, Segmentation by Booking Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Direct
Travel Agents
Marketplace
7. Adventure Tourism Market Regional and Country Analysis
7.1. Global Adventure Tourism Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Adventure Tourism Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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