Adventure tourism involves traveling to remote and exotic places for physical activity, natural environment, and cultural immersion. It encourages travelers to connect with the core values of the local people via interaction. In addition, it offers effective and economic incentives for enhancing bio-cultural diversity while generating financial benefits for local and private industries. Nowadays, adventure tourism is gaining traction over conventional mass tourism across the globe as it is resilient, supports economies, and encourages sustainable practices.
The global adventure tourism market reached a value of US$ 852.4 Billion in 2021. Looking forward, the a new report expects the market to reach US$ 2,548.2 Billion by 2027, exhibiting at a CAGR of 20.23% during 2022-2027. Of course all this could change thanks to COVID.
Why the market is growing
The escalating demand for authentic and personalized traveling experience on account of rapid urbanization, improving disposable incomes, rising social media influence, and affordable air travel tickets represents one of the key factors bolstering the market growth.
Moreover, the growing awareness about the adverse impact of conventional tourism, such as soil erosion, increasing pollution, and natural habitat loss, is shifting the preferences of travelers towards sustainable and adventure tourism. Apart from this, travel companies are introducing fast and mobile-friendly websites that are easy to navigate on smartphones. These websites allow peer reviews, 360-degree video tours, and clear price comparisons, which help tourists plan vacations online and make informed booking decisions.
This, in confluence with the increasing penetration of the internet and boosting sales of smartphones, is creating a lucrative outlook for the market. In addition to this, they are partnering with marketing organizations to attract high-value customers through online marketing, which is positively influencing the demand for adventure tourism worldwide. Furthermore, governing agencies of numerous countries are promoting adventure tourism as it creates employment opportunities and contributes effectively to community development. This is projected to increase the popularity of adventure tourism around the world.