Adventure Tourism Market Report by Technavio predicts USD 2.50 Tn growth — Driven by increasing disposable incomes – QNT Press Release


NEW YORK, Sept. 5, 2022 /PRNewswire/ — The adventure tourism market has grown substantially over the years. To estimate the size of the market, Technavio has tracked the recent trends and developments in the adventure tourism market. The analysts at Technavio have considered various aspects such as the consumer base, adoption rate, average selling price, revenue generated by vendors, and various other factors to estimate the market size. Download Sample PDF Report Here to get an idea of ​​the overall scope of the full report.

The report on the adventure tourism market by Technavio expects the market size to increase at a CAGR of 38.87% and register an incremental growth of USD 2.50 trillion between 2021 and 2026. However, the growth forecast could be missed with the market growing slower than expected if the following factors come into play: low penetration rate in developing economies and fluctuations in weather patterns and seasonality variation.

According to Technavio, the growth of the market is primarily driven by increasing disposable incomes.

The disposable income of people across the globe has increased significantly over recent years. It can be attributed to factors such as the rise in dual household income, per capita income, and rapid growth in employment rates. These factors have increased the spending power of consumers which is driving the demand for luxurious travel to different destinations across the world, thereby driving the growth of the market in focus.

“Rising number of soft adventure sports enthusiasts and the launch of low-cost airlines will further accelerate the growth of the market”, says an analyst at Technavio.

The global adventure tourism market is highly fragmented due to the presence of several global, regional, and local players competing with each other. Key players in the global adventure tourism market have relied on strategies such as product launches and business expansion to expand their market share and stay relevant in the global adventure tourism market. The key players in the market include Abercrombie and Kent USA LLC, Austin Adventures, Butterfield and Robinson Inc., G Adventures, and others.

The global adventure tourism market has many significant players. These players are profusely working on product advancements with plans of launching new trip destinations to ensure market growth. For instance, in January 2020Austin Adventures, a pioneer multisport and family adventure travel company, offered eighty-plus trips across all seven continents, including a trip for every month in a year. The past activities in adventure tourism, recent developments along with futuristic advancements in adventure tourism activities will contribute to the overall growth of the global adventure tourism market.

The report breaks down the market into the following segments:

  • Type: domestic adventure tourism and international adventure tourism
  • Source: indirect contribution, direct contribution, and induced contribution
  • Geography: EuropeAPAC, North America, South Americaand the Middle East and Africa

Based on the type, the domestic adventure tourism segment is expected to create more revenue in the market. The segment is driven by favorable government regulations, the absence of currency exchange rates, and familiarity with the culture and language.

Similarly, by source, the market is expected to witness significant growth in the indirect contribution segment growth during the forecast period. The segment is driven by increasing government spending in the travel and tourism sectors.

In terms of region, APAC will emerge as the dominant region, occupying 31% of the global market share. The regional market is driven by the increased eagerness among people to travel and growing economic prosperity.

The complete report on the global adventure tourism market offers detailed insights into the potential business segments and regions to invest in over the forecast period. Before making the purchase, we recommend reading our Sample PDF Report.

The adventure tourism market report answers questions such as:

  • Is the market structure fragmented or concentrated?
  • What was the market size in 2021 and the forecast for the adventure tourism market through 2026?
  • Which are the best product segment areas to invest in over the forecast period?
  • What is the market share of dominant and strong vendors in the adventure tourism market?
  • What are the inhibiting factors and the impact of COVID-19 on the adventure tourism market growth?
  • What are the latest trends and regulatory frameworks in the adventure tourism market?

Got more queries? Speak to our analyst now

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Adventure Tourism Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 38.87%

Market growth 2022-2026

USD 2.50 trillion

Market structure

Fragmented

YoY growth (%)

24.26

Regional analysis

Europe, APAC, North America, South America, and Middle…

Full story available on Benzinga.com



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