Adventure Tourism Market Size
The adventure tourism market was worth $483.3 billion in 2023, and it is expected to grow at a rate of more than 15.2% per year from 2024 to 2032. The market is growing because more money is being put into improving adventure tourism. These investments help build infrastructure, such better trails, places to stay, and recreational amenities, which draws in more adventurous travelers.
For example, in December 2023, The Indian tourism industry got a big boost when 15 Memoranda of Understanding (MoUs) worth USD 543.8 million were signed in Gujarat. These deals are estimated to create more than 11,500 jobs, both directly and indirectly. One of these agreements is to develop a submarine that can hold up to 32 people for underwater adventure tourism in Dwarka. With this project, guests will be able to explore marine ecosystems and see soft corals, hydroids, and sea anemones. Investments also help with marketing and advertising strategies that raise awareness and bring in a wider range of people to adventurous places.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Adventure Tourism Market Size in 2023 | USD 483.3 Billion |
| Forecast Period | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR | 15.2% |
| 2032 Value Projection | USD 1.65 Trillion |
| Historical Data for | 2018 – 2023 |
| No. of Pages | 220 |
| Tables, Charts & Figures | 320 |
| Segments covered | Type, age group, packages, booking mode |
| Growth Drivers |
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| Pitfalls & Challenges |
|
The surge in disposable income among consumers is playing a pivotal role in propelling the adventure tourism market forward. People are looking for unique and unforgettable experiences now that they have more money to spend. This is pushing up the demand for adventure tourism activities. People are more likely to spend money on pleasurable activities like hiking, rafting, and animal safaris when they have more money to spend. This trend is especially strong among younger people and wealthy tourists who value experiencing travel. This has led to steady growth and expansion in the adventure tourism industry.
Regulatory limits make it very hard for the adventure tourism market to grow. Adventure tourism providers generally have to follow strict rules and get permits from local governments and national park administrations. Following these rules, which could include rules about how to utilize land, safety requirements, and ways to protect the environment, can be hard and take a lot of effort. Also, getting the right permissions and licenses may cost more money and take more time for operations. Adventure tourism businesses need to be able to adapt to changing rules while still running their businesses efficiently. This is important for staying on top of the rules and making sure they operate in a responsible and sustainable way.
Adventure Tourism Market Trends
Virtual reality (VR) technology is making history tours more popular, which is good for the adventure tourism business. These immersive experiences take people to historical locales, where they can virtually explore ancient civilizations and landmarks. For example, in February 2024, the Saudi Ministry of Culture launched the first National Cultural Metaverse Platform, which gave people access to virtual reality history tours and other immersive activities.
The Generative Media Intelligence (GMI) AI technology supports this groundbreaking project in the Metaverse. This project, which was made with help from droppGroup and its cutting-edge Phygital Metaverse, uses Hyperledger Fabric 2.5 blockchain technology to create a new mix of real and digital experiences.
Adventure travelers who want to interact with local communities and learn more about different cultures are increasingly looking for real cultural encounters. These experiences generally include spending time with native tribes, taking part in traditional rites and rituals, and learning about local crafts and cooking. Real cultural experiences not only make the traveler's journey more interesting, but they also help protect cultural heritage and improve the economy of local communities. This is why they are such an important part of sustainable and responsible adventure tourism.
Adventure Tourism Market Analysis
The market is split into hard and soft based on type. In 2023, the soft sector had more than 65% of the market. Soft adventure tourism is becoming more popular since it is easy to get to and focuses on safety and comfort. Soft adventures are open to a wider range of people, including families and people of all fitness levels, than activities that require greater physical effort. Safety is always the top priority in these activities, and they are generally led by professionals. This gives participants a sense of security while still being fun.
Soft adventure activities also offer facilities like pleasant lodging and transportation, so passengers may enjoy their experiences without giving up comfort or convenience. This makes them appealing to a larger range of people looking for exciting yet easy-to-reach travel experiences.
The market is divided into travel agents, individuals, and event planners based on how they book. The persons sector made up 42.5% of the adventure tourism market in 2023. The individual booking mode is growing in the industry since more and more people want individualized travel services. People who travel want experiences that are tailored to their tastes, interests, and schedules. This has led to a trend away from pre-packaged tours and toward scheduling unique excursions.
For example, in August 2023, Club Resorto Vacations Private Limited, a new travel company based in New Delhi, launched its newest travel website, travel.clubresorto.com. The site makes it easier to store and analyze individual travel preferences by adding more features. This feature lets us make personalized suggestions for special deals and packages that meet the preferences of each traveler.
The adventure tourism market in Europe made for around 39% of the total income in 2023, thanks to its varied scenery and well-developed infrastructure. The continent has a lot of different types of terrain, like mountains, woods, beaches, and rivers, which makes it a great place for outdoor enthusiasts who want to try new things like hiking, skiing, biking, and water sports. Europe's well-developed tourist infrastructure, which includes a lot of trails, places to stay, transportation, and adventure tour companies, also makes it easier for travelers to go to these activities. This makes it easy for them to go on adventurous trips across the continent.
Adventure Tourism Market Share
Arabian Adventures offers a wide range of services that cater to the growing demand for unique & thrilling adventure experiences for travel enthusiasts. The company provides several options including jet-skiing, scuba diving, and snorkeling activities to gain the market share among the other major players in the market.
Moreover, in 2022, Austin Adventures in collaboration with Active Adventures have established themselves as the benchmark for immersive, all-inclusive, expertly guided small-group adventures in stunning natural landscapes, showcasing some of the most breathtaking scenery on the planet.
Adventure Tourism Market Companies
Major companies operating in the adventure tourism industry are
- Austin Adventures, Inc.
- Butterfield & Robinson Inc.
- Desert Adventures
- Discovery Nomads
- G Adventures
- Arabian Advetures
- Get you Guide
- Big Bus Tours
- Geographic Expeditions Inc.
- Intrepid Group, ltd.
Adventure Tourism Industry News
- In February 2024, The Dalma Wildlife Sanctuary plans to enrich its adventure tourism options by introducing a canopy walk, scheduled for debut by the month's end. This fresh attraction, showcasing a 15-feet-high bridge, seeks to offer visitors an exciting experience, linking two points within the sanctuary.
- In July 2023, Arabian Adventures launched ‘The Adventure Pass’, which offers bundles of either three or five experiences, with up to 40% savings compared to standard entry prices combined.
The adventure tourism market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Billion) from 2018 to 2032, for the following segments
Market, By Type
- Hard
- Soft
Market, By Age Group
- 20-30 Years
- 30-40 Years
- 40-50 Years
- Above 50
Market, By Packages
- Low
- Medium
- Premium
Market, By Booking Mode
- Travel Agent
- Individuals
- Event Planners
The above information has been provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Nordics
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- ANZ
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- MEA
- South Africa
- UAE
- Saudi Arabia
- Rest of MEA
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