Adventure Tourism Market Share 2023- Future Challenges, Growth Opportunities, Demand, Upcoming Trends and Analysis Research Report 2022-2032: SPER Market Research
According to SPER Market Research, the Adventure Tourism Market is estimated to reach USD 1187.73 billion by 2032 with a CAGR of 15.46%. Adventure travel includes activities such as caving, climbing, cycling, hiking, hunting, rafting, and more. One of the industries that is expanding quickly is tourism, and one of its fastest-growing subsectors is adventure tourism. Due to its beautiful scenery, delectable cuisine, and convenient lodging options, Asia-Pacific is one of the most popular tourist destinations. Many activities based on land, sea, and the air are permitted in cities including Sydney, Melbourne, Brisbane, and Perth. Beaches and wildlife refuges are also found in Asia-Pacific, which adds to the region’s appeal as a tourism destination. The most popular type of travel in the world is adventure sports since it includes activities like scuba diving, white water rafting, surfing, trekking, cycling, and others.
Adventure Tourism Market Overview (2022-2032)
- Forecast CAGR (2022-2032): 15.46%
- Forecast Market Size (2032): 1187.73 billion
The picturesque terrain and wide range of activities offered in the nation’s cities are two factors that have contributed to the expansion of the adventure tourism industry. Global industry is also driven by strategic marketing actions made by industry participants combined with an increase in government activities to encourage tourism. The danger associated with adventure travel and unpredictability of weather, however, limit market expansion internationally. The market’s expansion may be hampered by several issues, which could cause adventure tourism to fail. On the other hand, more social media networking and the rising popularity of travel blogging and video recording on social media sites like Instagram and Twitter are projected to further spark the curiosity of travelers worldwide. As a result, the market for adventure travel is predicted to develop and Australia will become a more attractive tourist destination.
Impact of COVID-19 on the Adventure Tourism Market
The COVID-19 incident had a significant negative impact on tourism. The expansion of the tourism sector was severely hampered by it. International travel abruptly came to a standstill, there were mobility issues, and there were more health and safety worries. Together with the nation’s travel industry, the aviation sector was the most severely harmed. A decrease in passengers was caused by erratic border security and a sharp decline in demand. The arrival of the pandemic caused a similar fall in revenue for the hospitality sector.
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Adventure Tourism Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Austin Adventures, Inc., Butterfield & Robinson Inc., Cox & Kings Ltd., Discovery Nomads, G Adventures, Geographic Expeditions Inc., Intrepid Group, Itd., Mountain Travel Sobek, Tui Group.
Adventure Tourism Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2032. This report contains statistics on product type segment growth estimates and forecasts.
- Air-based Activity
- Land-based Activity
- Water-based Activity
By Booking Mode:
- Marketplace Booking
- Travel Agent
By Age Group:
- 28 and under
- 1 and over
- Middle East & Africa
- North America
- Latin America
Asia-Pacific is anticipated to continue to grow significantly throughout the projected period, with the greatest growth rate. These areas’ expansion can be linked to the region’s increasing business climate.
For More Information, refer to below link:-
Adventure Tourism Market Future Growth
Domestic Tourism Market Size- By Location, By Mode of Booking, By Tour Type, By Age Group- Regional Outlook, Competitive Strategies and Segment Forecast to 2032
Travel and Tourism Spending Market Size- By Type, By Application, By Travel Days- Regional Outlook, Competitive Strategies and Segment Forecast to 2032
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Sara Lopes, Business Consultant – U.S.A.
SPER Market Research