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Adventure Tourism Market Size - By Type (Hard, Soft), By Age Group (20-30 Years, 30-40 Years, 40-50 Years, Above 50), By Packages (Low, Medium, Premium), By Booking Mode (Travel Agent, Individuals, Event Planners) & Forecast, 2024 - 2032


Published on: 2024-07-28 | No of Pages : 240 | Industry : Professional-Services

Publisher : MRA | Format : PDF&Excel

Adventure Tourism Market Size - By Type (Hard, Soft), By Age Group (20-30 Years, 30-40 Years, 40-50 Years, Above 50), By Packages (Low, Medium, Premium), By Booking Mode (Travel Agent, Individuals, Event Planners) & Forecast, 2024 - 2032

Adventure Tourism Market Size

Adventure Tourism Market size was valued at USD 483.3 billion in 2023 and is estimated to register a CAGR of over 15.2% between 2024 and 2032. Increasing investments to enhance adventure tourism are driving market growth. These investments facilitate the development of infrastructure, such as improved trails, accommodations, and recreational facilities, attracting more adventurous travelers.

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For instance, in December 2023, A substantial uplift for the Indian tourism sector, Gujarat saw the signing of 15 Memoranda of Understanding (MoUs) totaling USD 543.8 million. These agreements are expected to generate over 11,500 direct and indirect job opportunities. Among these agreements is a pact aimed at building a submarine tailored for underwater adventure tourism in Dwarka, accommodating up to 32 individuals. This initiative will enable tourists to delve into marine ecosystems, encountering soft corals, hydroids, and sea anemones. Additionally, investments support marketing initiatives and promotional campaigns, raising awareness and attracting a broader audience to adventurous destinations.
 

Adventure Tourism Market Report Attributes
Report Attribute Details
Base Year 2023
Adventure Tourism Market Size in 2023 USD 483.3 Billion
Forecast Period 2024 to 2032
Forecast Period 2024 to 2032 CAGR 15.2%
2032 Value Projection USD 1.65 Trillion
Historical Data for 2018 – 2023
No. of Pages 220
Tables, Charts & Figures 320
Segments covered Type, age group, packages, booking mode
Growth Drivers
  • Increasing investments in tourism industry in Asia Pacific
  • Rising international tourist arrivals in UAE
  • Rising foreign direct investment in Saudi Arabia
  • Increasing sky adventure activities
Pitfalls & Challenges
  • Stringent regulations and permitting requirements
  • Extreme weather conditions

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The surge in disposable income among consumers is playing a pivotal role in propelling the adventure tourism market forward. With increased financial resources at their disposal, individuals are seeking unique and memorable experiences, driving demand for adventure tourism activities. As disposable income levels rise, people are more willing to allocate funds towards adventurous pursuits such as hiking, rafting, and wildlife safaris. This trend is particularly pronounced among younger demographics and affluent travelers who prioritize experiential travel, leading to sustained growth and expansion within the adventure tourism sector.

Regulatory constraints present significant challenges for the adventure tourism market. Local authorities and national park administrations often impose stringent regulations and permitting requirements on adventure tourism operators. Compliance with these regulations, which may encompass land use policies, safety standards, and environmental conservation measures, can be complex and time-consuming. Moreover, obtaining necessary permits and licenses may incur additional costs and administrative burdens for operators. Adapting to evolving regulatory frameworks while maintaining operational efficiency is crucial for adventure tourism businesses to navigate the regulatory landscape and ensure sustainable and responsible operation.

Adventure Tourism Market Trends

The use of Virtual Reality (VR) technology for history tours is driving growth in the adventure tourism industry. These immersive experiences transport participants to historical sites, allowing them to explore ancient civilizations and landmarks virtually. For instance, in February 2024, the Saudi Ministry of Culture introduced the inaugural National Cultural Metaverse Platform, providing users with access to virtual reality history tours and various immersive experiences.

This pioneering initiative in the Metaverse realm is underpinned by the Generative Media Intelligence (GMI) artificial intelligence system. Developed in collaboration with droppGroup and its groundbreaking Phygital Metaverse, this initiative leverages Hyperledger Fabric 2.5 blockchain technology to offer an innovative blend of physical & digital experiences.

Authentic cultural experiences are increasingly sought after by adventure travelers seeking meaningful connections with local communities and a deeper understanding of diverse cultures. These experiences often involve immersive interactions with indigenous groups, participation in traditional ceremonies and rituals, and hands-on engagement in local crafts and culinary traditions. By fostering cross-cultural exchange and mutual respect, authentic cultural experiences not only enrich the traveler's journey but also contribute to the preservation of cultural heritage and the socioeconomic development of local communities, making them a cornerstone of sustainable and responsible adventure tourism.

Adventure Tourism Market Analysis

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Based on type, the market is divided into hard and soft. The soft segment held over 65% of the market share in 2023. Soft adventure tourism is gaining momentum due to its accessibility and emphasis on safety and comfort. Unlike more physically demanding activities, soft adventures cater to a broader range of participants, including families and individuals with varying fitness levels. These experiences prioritize safety measures and are often guided by professionals, providing participants with a sense of security while still offering an element of excitement.

Moreover, soft adventure activities offer amenities such as comfortable accommodations and transportation, ensuring that travelers can enjoy their experiences without sacrificing comfort or convenience, thus appealing to a wider audience seeking accessible yet thrilling travel experiences.

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Based on booking mode, the market is categorized into travel agent, individuals, event planners. The individuals segment accounted for 42.5% of the adventure tourism market share in 2023. The increasing demand for personalized travel services is driving growth in the individual booking mode within the market. Travelers seek customized experiences tailored to their preferences, interests, and schedules, prompting a shift towards booking individualized adventures rather than pre-packaged tours.

For instance, in August 2023, Club Resorto Vacations Private Limited, an innovative travel firm headquartered in New Delhi, has introduced its newest travel platform, travel.clubresorto.com. With advanced functionalities, the portal facilitates the storage and analysis of individual travel preferences. This capability empowers us to offer tailored recommendations for exclusive deals and packages, addressing the unique needs of each individual traveler.

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Europe adventure tourism market recorded around 39% of the revenue share in 2023, propelled by its diverse landscape and established infrastructure. The continent offers a plethora of adventure activities thanks to its varied terrain, including mountains, forests, coastlines, and rivers, attracting outdoor enthusiasts seeking diverse experiences such as hiking, skiing, cycling, and water sports. Furthermore, Europe's well-developed tourism infrastructure, comprising extensive networks of trails, accommodations, transportation, and adventure tour operators, facilitates easy access to these activities, making it convenient for travelers to embark on adventurous journeys across the continent.

Adventure Tourism Market Share

Arabian Adventures offers a wide range of services that cater to the growing demand for unique & thrilling adventure experiences for travel enthusiasts. The company provides several options including jet-skiing, scuba diving, and snorkeling activities to gain the market share among the other major players in the market.

Moreover, in 2022, Austin Adventures in collaboration with Active Adventures have established themselves as the benchmark for immersive, all-inclusive, expertly guided small-group adventures in stunning natural landscapes, showcasing some of the most breathtaking scenery on the planet.

Adventure Tourism Market Companies

Major companies operating in the adventure tourism industry are

  • Austin Adventures, Inc.
  • Butterfield & Robinson Inc.
  • Desert Adventures
  • Discovery Nomads
  • G Adventures
  • Arabian Advetures
  • Get you Guide
  • Big Bus Tours
  • Geographic Expeditions Inc.
  • Intrepid Group, ltd.

Adventure Tourism Industry News

  • In February 2024, The Dalma Wildlife Sanctuary plans to enrich its adventure tourism options by introducing a canopy walk, scheduled for debut by the month's end. This fresh attraction, showcasing a 15-feet-high bridge, seeks to offer visitors an exciting experience, linking two points within the sanctuary.
  • In July 2023, Arabian Adventures launched ‘The Adventure Pass’, which offers bundles of either three or five experiences, with up to 40% savings compared to standard entry prices combined.

The adventure tourism market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Billion) from 2018 to 2032, for the following segments

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Market, By Type

 

  • Hard
  • Soft 

Market, By Age Group

  • 20-30 Years
  • 30-40 Years
  • 40-50 Years
  • Above 50

Market, By Packages

  • Low
  • Medium
  • Premium

Market, By Booking Mode

  • Travel Agent
  • Individuals
  • Event Planners 

The above information has been provided for the following regions and countries

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Russia
    • Nordics
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • ANZ
    • Southeast Asia
    • Rest of Asia Pacific 
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America 
  • MEA
    • South Africa
    • UAE
    • Saudi Arabia
    • Rest of MEA

 

Table of Content

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To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )