A recent report published by Infinium Global Research on the adventure tourism market provides in-depth analysis of segments and sub-segments in the global as well as regional adventure tourism market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional adventure tourism market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global adventure tourism market. According to the report, the global adventure tourism market is projected to grow at a CAGR of 13.7% over the forecast period of 2021-2027.
Adventure Tourism market was valued at USD 837.8 billion in 2021 and is expected to reach USD 1814.3 billion in 2027, with a CAGR of 13.7% during the forecast period. Tourism is one of the most rapidly growing sectors in the world, and adventure tourism are one of the fastest-growing categories of tourism. Adventure tourism includes adventure sports include hiking, climbing, cycling, rafting, scuba diving, para-gliding, surfing, and others. Some of the destinations are particular for a type of adventure sport, for instance, the Great Barrier Reef in Australia is famous for scuba diving while the Grand Canyon in America is known for hiking and mountain climbing. Furthermore, Airbnb, the travel and tourism company has launched a new Airbnb Adventure, which allows its users to book and travel across the world for adventure sports. The service offers hundreds of small-group excursions and bucket list nature trips, where the guests stay in nature and are offered all the essential tools and equipment.
People are traveling more for vacations and trips, which helps the travel and tourism industry to grow. This is the major driving factor for the growth of the adventure tourism market. People tend to travel to new destinations for their vacations, as they are keener to explore undiscovered destinations. Moreover, the increasing disposable income and increase in government initiatives are encouraging people to go on a vacation or trip. This has contributed to the growth of the adventure tourism market. Furthermore, a variety of options available for travelers and several offers from travel agencies is boosting the demand for adventure tourism. However, the increase in crime rates and growing terrorism in some countries are restraining the growth of the adventure tourism market. Nevertheless, increasing penetration of the internet has encouraged travelers to adopt online travel agencies to book their trips. This is anticipated to offer favorable opportunities to the players in the market. The recent coronavirus has triggered a concern worldwide in early January 2020, and by the end of March 2020, the outbreak has infected several people globally. The pandemic has negatively affected the global tourism industry and the severity of the pandemic may be assessed based on the figures of the past epidemics such as SARS, Spanish Flu. Tourism and hospitality businesses are profoundly affected by COVID-19. Due to the COVID-19 pandemic, the travel and tourism industry's employment loss is predicted to be 100 million worldwide.
Region-wise, Europe generated the highest revenue in the market, dominating the global adventure tourism market. The dominance of the European market is attributed to the presence of the most popular destinations in the region. Moreover, the people in Europe are engaged in some of the popular adventure sports including paragliding, kite surfing, and hiking on mountains and glaciers, which is anticipated to boost the adventure tourism market in this region. North America is the second-largest market for adventure tourism due to the presence of various adventurous places, high per-capita disposable income. Asia Pacific is anticipated to grow at the highest CAGR throughout the forecast period.
The report on global adventure tourism market covers segments such as type, activity, and sales channel. On the basis of type, the sub-markets include hard, soft, and other types. On the basis of activity, the sub-markets include land-based activity, water-based activity, and air-based activity. On the basis of sales channel, the sub-markets include travel agent, and direct.
The report provides profiles of the companies in the market such as Austin Adventures, Inc., G Adventures, Intrepid Travel, Mountain Travel Sobek, Natural Habitat Adventures, TUI Group, REI Adventures, InnerAsia Travel Group, Inc., Butterfield & Robinson Inc, and Butterfield & Robinson Inc..
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of adventure tourism market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.