Press release
Outdoor Vacation Market Report, Size, Share, Growth, Trends, Analysis, Forecast to 2033
Outdoor Vacation Market
The new report published by The Business Research Company, titled Outdoor Vacation Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.
As per the report, the outdoor vacation market size has grown rapidly in recent years. It will grow from $702.07 billion in 2023 to $841.01 billion in 2024 at a compound annual growth rate (CAGR) of 19.8%. The outdoor vacation market size is expected to see rapid growth in the next few years. It will grow to $1,740.16 billion in 2028 at a compound annual growth rate (CAGR) of 19.9%.
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What Is Driving The Growth Of The Global Outdoor Vacation Market?
Growth of Adventure Tourism Boosts The Outdoor Vacation Market
The shift towards adventurous tourism is expected to propel the growth of the outdoor vacation market going forward. Adventure tourism involves travel that includes physical activity, exploration, or travel to remote or exotic locations, often providing a high level of excitement and challenge. The rise in adventure tourism highlights the growing consumer desire for unique, immersive experiences, a quest for personal challenges, and increased accessibility to previously remote destinations. Outdoor vacations enhance adventure tourism by offering diverse, immersive environments for activities like hiking, climbing, and kayaking, which appeal to adventure seekers and contribute to the industry's growth. For instance, in January 2022, according to the Outdoor Industry Association, a US-based non-profit organization, the number of participants in hiking was 58.7 million in 2021, marking an addition of 889,000 participants compared to 2020. Therefore, the shift towards adventurous tourism will drive the outdoor vacation market.
What Is The Key Trend In The Global Outdoor Vacation Market?
Adventure Tourism Transforming The Outdoor Vacation Market
Major companies operating in the outdoor vacation market are focusing on advanced travel services, such as adventure tours, to attract thrill-seekers and adventure enthusiasts, providing unique experiences. Adventure tours provide exciting and immersive experiences, ranging from hiking and wildlife safaris to extreme sports. For instance, in March 2024, Trek Travel, a US-based tour company, launched new hiking and walking tours. These tours include destinations such as Italy's Cinque Terre, Scotland, Portugal, and Ireland. It provides guests with top-notch accommodations, fine dining, and knowledgeable guides, providing a remarkable adventure experience.
How Is The Global Outdoor Vacation Market Segmented?
The outdoor vacation market covered in this report is segmented -
1) By Tour Type: Volunteering Trips, Culinary Tour, Leisure Tour, Heritage Trip, Other Tour Types
2) By Traveler Type: Couple, Family, Solo, Group
3) By Age Group: Generation Z, Millennial, Generation X, Baby Boomers, Other Age Groups
4) By Mode Of Booking: Travel Agent, Online Travel Agency
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How Is The Competitive Landscape Of The Global Outdoor Vacation Market?
Major companies operating in the outdoor vacation market are American Express, Expedia Inc., Recreational Equipment Inc., Travel + Leisure, World Travel Inc., Abercrombie & Kent USA LLC, Intrepid Travel, Thomas Cook, Kensington Tours Ltd., G Adventures, Micato Safaris, Backroads, Autocamp, Hipcamp Inc., Butterfield & Robinson, Zicasso, Exodus Travels Limited, Scott Dunn Ltd., JTB Americas Ltd., Austin Adventures, Cox & Kings, Outdoor Travel Adventures
Contents Of The Global Outdoor Vacation Market
1. Executive Summary
2. Outdoor Vacation Market Report Structure
3. Outdoor Vacation Market Trends And Strategies
4. Outdoor Vacation Market - Macro Economic Scenario
5. Outdoor Vacation Market Size And Growth
…..
27. Outdoor Vacation Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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