Adventure Tourism Market to Cross $1,626.7 Billion by 2026
The global adventure tourism market was valued at $ 586.3 billion in 2018, and is projected to reach $1,626.7 billion in 2026, registering a CAGR of 13.3% from 2019 to 2026. The development of the travel & tourism sector fosters the growth for adventure tourism market demand.
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Globally billion of tourists are in search of unique experiences; therefore, adventure tourism has become a cornerstone of the tourism experience. Moreover, increase in search of authentic experience fuels the growth of the adventure tourism market. However, the growth of the adventure tourism market also brings the critical challenges of sustainable development and careful & responsible tourism management.
The collaboration of public and private sector is initiating the growth of adventure tourism market as it is linked with natural and human capital. In addition, with the increasing disposable income, many emerging economies such as Asia-Pacific and Europe has shown the faster growth in recent years. Moreover, now smaller companies are continuing their business in off seasons also after analyzing the footfall for adventure tourism.
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The global adventure tourism market is segmented on the basis of type, activity, type of traveler, age group, sales channel, and region. By type, the market is classified into hard, soft, and others. Based on activity, it is divided into land-based activity, water-based activity, and air-based activity. Depending on type of traveler, it is categorized into solo, friends/group, couple, and family. According to age group, it is fragmented into below 30 years, 30-41 Years, 42-49 years, and 50 years & above. The sales channel segment includes travel agent and direct. By region, the adventure tourism market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major companies profiled in the report 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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