The adventure tourism global market report 2024 from 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.
Adventure Tourism Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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 growth in the historic period can be attributed to rising disposable incomes worldwide, 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 rising consumer preference for experiential travel over material possessions.
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%. The growth in the forecast period can be attributed to growing demand for unique and off-the-beaten-path experiences, increasing adoption of adventure tourism by older demographics, rising awareness and participation in adventure travel among emerging markets, expanding availability of adventure tourism packages and operators and rising multi-generational adventure travel experiences. Major trends in the forecast period include advancements in technology enhancing safety and accessibility in remote areas, shift towards personalized and customized adventure travel experiences, integration of digital platforms for booking and planning adventure trips, emergence of new adventure tourism destinations and experiences and focus on sustainable practices and responsible tourism in adventure travel.
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Scope Of Adventure Tourism Market
The 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.
Adventure Tourism Market Overview
Market Drivers –
The expanding social media influence is expected to propel the growth of the adventure tourism market going forward. Social media influence refers to user-generated content, influencers, and social media platforms’ impact on individuals’ perceptions, decisions, and behaviors. The expansion of social media influence is due to the widespread adoption of smartphones, the increasing popularity of social media platforms, and the growing number of influencers who actively engage their audiences with compelling travel content. Social media influence in adventure tourism involves leveraging user-generated content, influencers, and social media platforms to inspire and attract travelers to participate in adventure activities and explore exotic destinations. For instance, in May 2023, according to the Influencer Marketing Factory, a US-based influencer marketing agency, the creator economy encompassed the influencer marketing industry, which reached a valuation of around $21.1 billion in 2023. It includes numerous new social startups, contributing to the creator economy’s total value surpassing $104.2 billion and continuing to grow. Further, the value of the influencer marketing industry has surged by roughly 53% since 2021. Therefore, expanding social media influence is driving the growth of the adventure tourism market going forward.
Market Trends –
Major companies operating in the adventure tourism market are focusing on developing innovative solutions, such as discount passes, to gain a competitive edge in the market. Discount passes are promotional tools that offer reduced prices for goods or services, often used to attract customers and increase sales within a specific period. For instance, in June 2023, Arabian Adventures, a UAE-based travel and tourism company, launched The Adventure Pass. The Adventure Pass offers up to 40% savings on popular attractions in Dubai and the UAE. Available in 3 or 5-activity packages at a fixed price, it provides convenience and flexibility. Accessible via the Smartvisit app, the pass is valid seven days after the first use. This app features real-time availability, instant confirmations, and personalized itineraries, making booking seamless and efficient.
The adventure tourism market covered in this report is segmented –
1) By Type: Soft, Hard
2) By Activity: Land-Based, Air-Based, Water-Based
3) By Group: Groups, Family, Couples, Solo Travellers
4) By Booking Mode: Direct, Travel Agents, Marketplace
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Regional Insights –
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.
Key Companies –
Major companies operating in the adventure tourism market are REI Adventures, TUI AG, Natural Habitat Adventures, G Adventures Inc., Abercrombie & Kent USA LLC, 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
Table of Contents
1. Executive Summary
2. Adventure Tourism Market Report Structure
3. Adventure Tourism Market Trends And Strategies
4. Adventure Tourism Market – Macro Economic Scenario
5. Adventure Tourism Market Size And Growth
…..
27. Adventure Tourism Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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