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Published on : Thursday, February 10, 2022
As per the latest report published by Allied Market Research with the title – “Adventure Tourism Market by Type, Activity, Type Of Travelers, Age Group, Sales Channel and Region: Global Opportunity Analysis and Industry Forecast, 2021–2028,” in 2020, the adventure tourism market size was valued at $112,227 million. By 2028, it’s expected to reach the market value of $1,169,095 million, growing at a CAGR of 20.1% from 2021 to 2028. By type, in 2020, the soft segment was the most prominent segment accounting for $37,595 million and by 2028 is hoped to reach the market size of $380,687 million, growing at a CAGR of 20.1% throughout the forecast period. Last year, the land-based activity segment was the most prominent category and is hoped to remain dominant all through the forecast period.
Adventure tourism comprises searching and unravelling remote exotic areas with unique and challenging experiences while vacationing, in which travelers talk with locals and connect with their values.
Demand and Growth of the market:-
The presence of attractive landscape and availability of a large variety of activities within different cities of the country have actually raised adventure tourism possibilities. In addition, strategic marketing efforts adopted by the key industry players together with increase in the efforts of the government to promote tourism drive the global industry. However, risk involved in adventure travelling and erratic conditions of weather act as an obstruction to the market growth worldwide. These factors might lead to collapse of adventure tourism, thereby hindering the market growth. On the other hand, rise in social media networking and popularity of travel blogging/video logging in Instagram, and twitter is expected to pique the interest of travelers even more across the globe. This is expected to increase the popularity of tourism industry making way for adventure tourism market growth.
Tags: adventure tourism