The global adventure tourism market was valued at $444,850 million in 2016, and is projected to reach $1,335,738 million in 2023, registering a CAGR of 17.4 % from 2017 to 2023. The substantial boom in the travel and tourism sector fosters the growth for adventure tourism market.
Adventure tourism is defined as travelling outside a person’s regular environment. Adventure travel may involve various adventurous activities such as caving, climbing, cycling, hiking, hunting, rafting, and others. Tourism is one of the most rapidly growing sectors, while adventure tourism is one of its fastest growing segments.
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The growth of adventure tourism is driven by increase in government initiatives to promote tourism However, risk involved in adventure travelling and unpredictable weather conditions are few major challenges to the adventure tourism industry. Conversely, increase in social media trend has created lucrative opportunity for adventure service providers, as Facebook has become the most preferred social network among travelers.
The market is segmented on the basis of type, activity, type of travelers, age group, sales channel, and geography. By type, the market has been classified into hard, soft, and others. By activity, the market has been divided into land-based activity, water-based activity, and air-based activity. By type of travelers, the market has been segmented into solo, friends/group, couple, and family. By age group, it is categorized into below 30 years, 30‐41 years, 42‐49 years, and 50 years & above. The sales channel segment includes travel agent and direct. Based on geography, the global adventure tourism market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
KEY MARKET BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the adventure tourism market with current and future trends to elucidate the imminent investment pockets in the market.
- The report provides information regarding key drivers, restraints, and opportunities with impact analysis.
- Porters Five Forces model analysis of the industry illustrates the potency of the buyers and suppliers.
- Market player positioning in the report provides a clear understanding of the position of leading companies.
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- 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
- Abercrombie & Kent Group of Companies S.A.
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