Global Adventure Tourism Market to Grow at 17% During 2024-2032, Bolstered by Increasing Inclination Toward Adventure Activities

December 10, 2021 | Other Reports

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The latest report by IMARC Group, titled “Adventure Tourism Market Report by Type (Hard Adventure, Soft Adventure), Activity (Land-based Activity, Water-based Activity, Air-based Activity), Age Group (Below 30 Years, 30–41 Years, 42–49 Years, 50 Years and Above), Sales Channel (Travel Agent, Direct), and Region 2024-2032,” finds that the global adventure tourism market reached a value of US$ 407 Billion in 2023. 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.

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 17% during the forecast period (2024-2032).

Market Summary:

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.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Type, Activity, Age Group, Sales Channel, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Abercrombie & Kent USA LLC, Austin Adventures Inc., Butterfield & Robinson Inc., Cox & Kings Ltd., Discovery Nomads, G Adventures, Geographic Expeditions Inc., Intrepid Group Limited, Mountain Travel Sobek, Recreational Equipment Inc., ROW Adventures and TUI AG
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Adventure Tourism Market to Grow at 17% During 2024-2032, Bolstered by Increasing Inclination Toward Adventure Activities

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