he global adventure tourism market size is estimated to reach US$1.009 trillion by 2030, growing at 15 percent year and outpacing traditional mass tourism all over the world due to its versatility, capacity to assist economies, and promotion of sustainable practices, says a new report.
Conducted by Grand View Research, a San Francisco-based market research and consulting company, the report says the travel segment will be influenced by declining travel-related costs, growing incomes, and a wider variety of possible tourist activities – factors that have already seen global adventure tourism business experience rapid expansion, with associated expenditure and visitor numbers rising dramatically in recent years.
Defining adventure tourism as including both domestic and international travel that includes a range of adventurous activities including rafting, trekking, cycling, and caving, among others, as well as exposure to the outdoors and different cultures, the report identifies the following as “key players: in the sector: Austin Adventures, Inc., Butterfield & Robinson Inc., G Adventures, Geographic Expeditions Inc., Intrepid Group, Mountain Travel Sobek, Discovery Nomads, Row Adventures, Tui Group, and Cox & Kings Ltd.
Key insights and findings from the report include:
• The soft adventure tourism segment dominated the market and accounted for around 65.0% share in 2021 driven by rising tourist inclination towards less or no-risk adventure activities and rising inclination among elder age group.
• The solo adventure traveller segment is expected to witness annual growth of 15.2% during the forecast period, attributable to key initiatives taken by leading market players.
• The direct booking segment captured the largest revenue share of around 65.0% in 2021 on account of key benefits offered by companies such as immersive experience, offers on next bookings, and effective tour experience.
• Due to a strengthening economic climate, growing income levels in the area, and government measures to promote travel and tourism, Europe accounted for the largest market share of around 40.0% in 2021.
Growth & trends
The worldwide adventure tourism business is anticipated to become one of the fastest expanding tourist sectors, demonstrating profitable growth all over the world, during the course of the projection period.
The growing need for an authentic and personalized travel experience, which is being driven by quick urbanization, rising disposable incomes, the influence of social media, and affordable airline tickets, are the key factors driving market expansion.
Additionally, travel companies are introducing speedy, user-friendly mobile websites that are accessible on smartphones. The demand for adventure tourism is rising globally as a result of major industry participants collaborating with marketing companies to attract high-value clientele through online marketing.
Government agencies in several countries are also promoting adventure tourism since it creates employment opportunities and benefits local development. This is further expected to drive market growth in near future. However, constantly evolving demographics, adverse weather conditions, and geopolitical tensions resulting in limited air traffic are expected to hinder the market growth.
The 51-60 age group segment dominated the market and captured revenue share of over 25.0% in 2021. The progressive rise in the number of adventure travellers from this age range is the key factor fueling segment’s growth.
Soft adventure
Given that many people prioritized their health and outdoor activities like cycling, walking, trekking, and swimming during and after the pandemic lockdown, adventure tourism has been identified as a potential area for growth in the domestic market. The soft adventure tourism segment held the largest revenue share of around 65.0% in 2021.
The growth of the segment is driven on account of rise in the adoption of soft adventure activities such as trekking, hiking, camping, and cycling among others.
The older age group has become one of the main age groups choosing soft adventure travel. Additionally, a large variety of soft adventure activities within different cities of countries and the presence of attractive landscape is expected to have a profound impact on soft adventure tourism.
The couples segment, however, has dominated the market, capturing the largest revenue share of over 40.0% in 2021. The segment is expected to show prominent growth in near future driven by increased disposable income and a growing desire for cultural and outdoor activities. The expansion of this market segment is attributed to the fact that people in this age group are financially stable and have the enthusiasm to partake in a variety of adventurous activities and experiences.
Safari market
The global safari tourism market size is expected to register annual growth of 5.3% from 2022 to 2030. Increasing disposable income, rise in the middle and upper-class expenditure, rising micro trips, and growing tourism all over the globe are anticipated to drive the market. Increasing travellers’ inclination toward personalized service, dependable transport, exclusivity, along with positive and professional collaboration with staff is setting the main benchmark for safari travel.
Booking mode
In 2021, the direct bookings accounted for around 65.0% share in 2021. Due to the customized experience and ease, an increasing number of adventure visitors and travellers are choosing to book their tours and packages directly through these channels thereby driving the segment’s development.
Additionally, significant actions taken by market participants, including online campaigns and social media advertising, are anticipated to draw potential clients and encourage them to book their tour packages through direct booking channels.