The outdoor vacation global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Outdoor Vacation Market, 2024The outdoor vacation global market report 2024
Market Size – The outdoor vacation market size has grown rapidly in recent years. It will grow from $702.07 billion in 2023 to $841.01 billion in 2024 at a compound annual growth rate (CAGR) of 19.8%. The growth in the historic period can be attributed to growth in disposable income levels, growing awareness about health, rising interest in adventure and experiential travel, support and promotion of tourism by government bodies, and growth in middle-class spending.
The outdoor vacation market size is expected to see rapid growth in the next few years. It will grow to $1,740.16 billion in 2028 at a compound annual growth rate (CAGR) of 19.9%. The growth in the forecast period can be attributed to the rise of remote work and digital nomadism, improvements in global transportation networks, demand for high-quality outdoor gear, increasing interest in ecotourism, and growing awareness of climate change impacts encouraging eco-friendly and nature-based travel choices. Major trends in the forecast period include the adoption of IoT and artificial intelligence-based technology, rising use of virtual reality (VR) technology, increasing adoption of contactless payments, growth in mobile payment solutions, and a rise in integrated payment systems.
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Scope Of Outdoor Vacation MarketThe Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Outdoor Vacation Market Overview
Market Drivers -The shift towards adventurous tourism is expected to propel the outdoor vacation market forward. Adventure tourism involves travel that includes physical activities, exploration, or visits to remote locations, often providing excitement and challenges. This growth in adventure tourism reflects consumers’ desires for unique experiences, personal challenges, and greater accessibility to previously remote destinations. Outdoor vacations play a vital role in this trend by offering diverse environments for activities like hiking, climbing, and kayaking, appealing to adventure seekers and contributing to market growth. According to the Outdoor Industry Association, as of January 2022, the number of participants in hiking was 58.7 million in 2021, marking an increase of 889,000 participants from 2020. Therefore, the shift towards adventurous tourism is driving growth in the outdoor vacation market, with sustained expansion projected through 2024 and into 2028.
Market Trends – Major companies operating in the outdoor vacation market are focusing on advanced travel services, such as adventure tours, to attract thrill-seekers and adventure enthusiasts, providing unique experiences. Adventure tours provide exciting and immersive experiences, ranging from hiking and wildlife safaris to extreme sports. For instance, in March 2024, Trek Travel, a US-based tour company, launched new hiking and walking tours. These tours include destinations such as Italy’s Cinque Terre, Scotland, Portugal, and Ireland. It provides guests with top-notch accommodations, fine dining, and knowledgeable guides, providing a remarkable adventure experience.
The outdoor vacation market covered in this report is segmented –
1) By Tour Type: Volunteering Trips, Culinary Tour, Leisure Tour, Heritage Trip, Other Tour Types
2) By Traveler Type: Couple, Family, Solo, Group
3) By Age Group: Generation Z, Millennial, Generation X, Baby Boomers, Other Age Groups
4) By Mode Of Booking: Travel Agent, Online Travel Agency
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Regional Insights – North America was the largest region in the outdoor vacation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the outdoor vacation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies – Major companies in the market are American Express, Expedia Inc., Recreational Equipment Inc., Travel + Leisure, World Travel Inc., Abercrombie & Kent USA LLC, Intrepid Travel, Thomas Cook, Kensington Tours Ltd., G Adventures, Micato Safaris, Backroads, Autocamp, Hipcamp Inc., Butterfield & Robinson, Zicasso, Exodus Travels Limited, Scott Dunn Ltd., JTB Americas Ltd., Austin Adventures, Cox & Kings, Outdoor Travel Adventures
Table of Contents 1. Executive Summary2. Outdoor Vacation Market Report Structure3. Outdoor Vacation Market Trends And Strategies4. Outdoor Vacation Market – Macro Economic Scenario5. Outdoor Vacation Market Size And Growth…..27. Outdoor Vacation Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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