Adventure Tourism Market

Global Adventure Tourism Market Size (2024 to 2029)

The global adventure tourism market size is expected to reach USD 1645.31 billion by 2029 from USD 881.25 billion in 2024, growing at a compound annual growth rate (CAGR) of 13.3% during the forecast period.

Adventure tourism refers to traveling or exploring with some degree of risk while on vacation. Adventure tourism includes some activities like rock climbing, hiking, caving, rafting, and others. Tourism is one of the fastest-growing sectors, of which adventure tourism is one of the most dynamic. Adventure tourism includes various air, water, and land activities such as mountaineering, trekking, hiking, scuba diving, canyoning, sandboarding, paragliding, rafting, and others. These activities are carried out under the guided supervision of experts, using all safety measures, such as helmets, harnesses, and others, to avoid accidents. Adventure tourism includes physical activity or activities in nature that may require exertion and special skills. Adventure travel includes various activities such as rock climbing, hiking, rafting, caving, cycling, hunting, and others.

Global Adventure Tourism Market Drivers:

In recent years, the adventure tourism industry has grown exponentially around the world. In addition, travelers want to visit unknown destinations. Also, the significant increase in government initiatives in the form of public and private partnerships to promote tourism is fuelling the growth of the global adventure tourism market. The improvement in the economic situation and the growth of disposable income are important factors that are driving the growth of the adventure tourism market.

The increase in the number of travelers wishing to visit new destinations around the world is a key factor that is expected to drive the growth of the global adventure tourism market during the forecast period. In addition, the growth of the tourism industry, the hike in the disposable income of people, and the increase in adventure travel in groups or alone or as a couple across the world are important factors that are supposed to fuel the growth of the target market.

The increase in tourism promotion activities by the government, the increase in investment in the tourism sector by the government, and the upward trend of adventure activities during the holidays are the main factors that are likely to drive the growth of the global market during the outlook period. In addition, the relaxation of travel restrictions and the aggressive tourism promotion strategies adopted by various countries around the world are factors that are supposed to proliferate the growth of the world market in the following years. Also, increasing social media advertising through various social media platforms such as Facebook, YouTube, Instagram, and others to offer better travel deals is another important factor that is estimated to contribute significantly to the growth of the target market.

Global Adventure Tourism Market Restraints:

However, unpredictable weather conditions are a major factor that can hamper the growth of the world market to some extent. Additionally, the high cost associated with adventure activities is another factor that can limit the growth of the target market to some extent.

Impact Of COVID-19 On The Adventure Tourism Market:

The coronavirus is spreading around the world with a serious impact on the global economy and market. North America and Europe are the countries most affected by the coronavirus, which are key players in the global tourism industry. The strict lockdown conditions that resulted in the ban on international and local travel have resulted in huge losses in the tourism industry, affecting the adventure tourism wing also. The rising consumer concerns about avoiding group gatherings are likely to impact the growth of the adventure tourism market.

REPORT COVERAGE:

This research report on the global adventure tourism market has been segmented and sub-segmented based on type, type of traveller, age group, and region.

Global Adventure Tourism Market – By Type:

• Cycling
• Trekking
• Boating
• Skiing

Among activities segmentation, the land-based business segment is foreseen to represent a significant revenue share in the global market due to the growing inclination towards land activities like trekking, wildlife and jeep safaris, and bird watching among people.

Global Adventure Tourism Market- By Type of Traveller:

• Solo
• Friends/group
• Couple
• Family

Global Adventure Tourism Market – By Age Group:

• 30 years
• 30–41 years
• 42–49 years
• 50 years & above

Global Adventure Tourism Market – By Region:

• North America
• Europe 
• Asia Pacific 
• Latin America 
• Middle East and Africa

The Asia-Pacific region is expected to record the highest growth in the global adventure tourism market during the projection period. Increased tourist arrivals, the surge in disposable income, the availability of several national parks and wildlife sanctuaries, and the relaxation of travel restrictions in several countries in the area are factors expected to drive growth in the regional market of the Asia-Pacific.

The market in Europe is supposed to dominate the market in terms of revenue, followed by the market in North America, due to the well-developed tourism sector and the high preference of travelers to visit countries in these areas. The markets of Latin America, the Middle East, and Africa are expected to experience significant growth in terms of turnover due to the increasing awareness of tourists towards the different adventure destinations in the countries of these regions.

KEY MARKET PLAYERS:

Abercrombie & Kent USA, LLC, Butterfield & Robinson Inc., Cox & Kings Ltd, Jet2holidays.com, Lindblad Expeditions, Oku Japan, Scott Dunn Ltd., Tauck, TCS World Travel, Thomas Cook Group, G Adventures, Audley Travel, Exodus Travel, Intrepid Group and Urban Adventures are some of the major players in the global adventure tourism market.

RECENT HAPPENINGS IN THE MARKET:

• In January 2020, Austin Adventures, a pioneer in multi-sport and family adventure travel, offered more than eighty trips to seven continents, including one for each month of the year.