The latest report by IMARC Group, titled “Adventure Tourism Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global adventure tourism market size reached US$ 852.4 Billion in 2021. Adventure tourism is a form of travel or exploration that includes activities such as caving, climbing, cycling, hiking, hunting, and rafting. These activities involve a certain amount of risk for the duration of the travel. Adventure tourism is a rapidly expanding industry as it consists of cultural exchange, physical activities, and connecting with nature in exotic destinations, isolated locations and out-of-the-comfort-zone destinations. These activities are carried out under the supervision of specialists and include necessary safety precautions such as helmets, harnesses, and other equipment. In addition to this, adventure tourism offers effective and economic incentives that enhance bio-cultural diversity while creating financial benefits for local and private industries.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Adventure Tourism Market Trends:
The market is primarily driven by the growing inclination toward adventure activities. The increasing popularity of attractive landscapes and different activities across various cities and countries are fueling the market growth. In addition to this, the rising penetration of social media networking and the growing popularity of travel and video blogging on platforms like Instagram, Facebook and Twitter are encouraging travelers to opt for adventure tourism activities. Furthermore, various governments and key players are taking initiatives in the form of private and public partnerships to encourage tourism, which is propelling the market growth. Moreover, key players are also integrating adventure tourism with technologies, including virtual reality (VR), artificial intelligence (AI), and the Internet of Things (IoT), to offer an enhanced experience. Furthermore, the desire of young people to travel to new places has increased the demand for adventure sports and affordable travel packages, which is creating opportunities for the market. Looking forward, the market is expected to grow at a CAGR of 20.23% during the forecast period (2022-2027).
- Based on the type, the market has been segmented into hard and soft adventure.
- On the basis of the activity, the market has been classified into land-, water-, and air-based activity.
- The market has been categorized based on the age group into below 30, 30-41, 42-49, and 50 years and above.
- On the basis of the sales channel, the market has been segregated into travel agent and direct.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Abercrombie & Kent USA, LLC, Austin Adventures Inc., Butterfield & Robinson Inc., Cox & Kings Limited, Discovery Nomads, G Adventures, Geographic Expeditions Inc., Intrepid Group Limited, Mountain Travel Sobek, Recreational Equipment Inc., ROW Adventures and TUI AG.
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