The Global Adventure Tourism Market was valued at USD 846.40 billion in 2020, and is projected to reach $1,756.75 billion in 2027, registering a CAGR of 15.7% from 2021 to 2027. The development of the travel and tourism sector fosters the growth for adventure tourism market demand. Travel spend has grown steadily across the world, especially in Asia Pacific, the Middle East, and Latin America. A key contributing factor to the market expansion is a growing middle class in many large markets with more spending power and interest in travel due to social media.
Europe tourism industry is the largest in the world accounting for 51% of share in 2015. Europe tourism industry is spiked by increase in number of international tourists in France, Spain, Italy, Germany and the U.K. The revenue generated from tourist travel in the U.K. accounted for USD 142.0 Billion in 2015. North America travel and tourism industry accounted for USD 1,412 Billion in 2015.With USD 1,218 Billion of revenues in 2015, the U.S. is the largest travel and tourism market in North America followed by Canada with USD 98.2 Billion. The U.S. tourism market is further anticipated to witness a robust CAGR during the forecast period. Asia-Pacific tourism industry accounts to witness the highest growth over the forecast period i.e. 2016-2027. The tourism market in Asia-Pacific is likely to get propelled from strengthening economy, rise in disposable income and increasing infrastructural developments in some of the major countries such as India, China, Japan and Singapore. Backed up by these factors, Asia-Pacific region is projected to attract over 502+ million visitors by 2027.
Over the past few years, the adventure tourism industry has grown exponentially, globally. Furthermore, travellers are interested to visit undiscovered destinations for enjoyment. In addition, significant increase in government initiatives in the form of private and public partnership to promote tourism fuels the growth of the global adventure tourism market. However, risk involved in unpredictable weather condition and adventure travelling restricts the adventure tourism market growth. Moreover, increase in trend of social media is anticipated to provide lucrative opportunity for the market growth, as Facebook has become the preferred social networking site among travellers to get the best travel deals.
Asia-Pacific is growing at a highest rate, as the Asia-Pacific adventure market is attracting various adventure travellers around the globe. Furthermore, tourist arrival and receipts are anticipated to increase, in this region as compared to any other region, which is expected to supplement the market growth. This region offers numerous diverse regions to explore, such as various national parks and wildlife reserves such as Mt. Everest in Nepal, rain forests in Borneo, Sundarbans in India, and whale watching and scouting kiwis in New Zealand. Moreover, increase in competition, reduced travel restrictions, economic growth, and aggressive promotion strategies are adopted by the regional tourism organizations, which directly contribute to the growth of the adventure tourism market size in this region.
The soft segment dominates the adventure tourism adventure tourism market share, as these activities possess moderate to low risks, and thus attract a large customer base. Moreover, adventure travellers are focusing toward less risky adventure activities and are more open to other elements such as natural environment, learning, and meaningful lifelong experience, which boost the adventure tourism market growth.
The major key players include: Austin Adventures, Inc., G Adventures Inc., Mountain Travel Sobek, TUI AG., ROW Adventures, REI Adventures, InnerAsia Travel Group, Inc., Intrepid Group Limited, Butterfield & Robinson Management Services, Inc., and Abercrombie & Kent Group of Companies S.A.
Europe tourism industry is the largest in the world accounting for 51% of share in 2015. Europe tourism industry is spiked by increase in number of international tourists in France, Spain, Italy, Germany and the U.K. The revenue generated from tourist travel in the U.K. accounted for USD 142.0 Billion in 2015. North America travel and tourism industry accounted for USD 1,412 Billion in 2015.With USD 1,218 Billion of revenues in 2015, the U.S. is the largest travel and tourism market in North America followed by Canada with USD 98.2 Billion. The U.S. tourism market is further anticipated to witness a robust CAGR during the forecast period. Asia-Pacific tourism industry accounts to witness the highest growth over the forecast period i.e. 2016-2027. The tourism market in Asia-Pacific is likely to get propelled from strengthening economy, rise in disposable income and increasing infrastructural developments in some of the major countries such as India, China, Japan and Singapore. Backed up by these factors, Asia-Pacific region is projected to attract over 502+ million visitors by 2027.
Over the past few years, the adventure tourism industry has grown exponentially, globally. Furthermore, travellers are interested to visit undiscovered destinations for enjoyment. In addition, significant increase in government initiatives in the form of private and public partnership to promote tourism fuels the growth of the global adventure tourism market. However, risk involved in unpredictable weather condition and adventure travelling restricts the adventure tourism market growth. Moreover, increase in trend of social media is anticipated to provide lucrative opportunity for the market growth, as Facebook has become the preferred social networking site among travellers to get the best travel deals.
Asia-Pacific is growing at a highest rate, as the Asia-Pacific adventure market is attracting various adventure travellers around the globe. Furthermore, tourist arrival and receipts are anticipated to increase, in this region as compared to any other region, which is expected to supplement the market growth. This region offers numerous diverse regions to explore, such as various national parks and wildlife reserves such as Mt. Everest in Nepal, rain forests in Borneo, Sundarbans in India, and whale watching and scouting kiwis in New Zealand. Moreover, increase in competition, reduced travel restrictions, economic growth, and aggressive promotion strategies are adopted by the regional tourism organizations, which directly contribute to the growth of the adventure tourism market size in this region.
The soft segment dominates the adventure tourism adventure tourism market share, as these activities possess moderate to low risks, and thus attract a large customer base. Moreover, adventure travellers are focusing toward less risky adventure activities and are more open to other elements such as natural environment, learning, and meaningful lifelong experience, which boost the adventure tourism market growth.
The major key players include: Austin Adventures, Inc., G Adventures Inc., Mountain Travel Sobek, TUI AG., ROW Adventures, REI Adventures, InnerAsia Travel Group, Inc., Intrepid Group Limited, Butterfield & Robinson Management Services, Inc., and Abercrombie & Kent Group of Companies S.A.
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