Adventure Tourism Market Size to Grow by USD 2.50 Tn, 31% of Market Growth to Originate from APAC – Technavio – QNT Press Release


NEW YORK, Nov. 11, 2022 /PRNewswire/ — The adventure tourism market size is expected to grow by USD 2.50 trillion from 2021 to 2026. In addition, the growth momentum of the market will accelerate at a CAGR of 38.87% during the forecast period, according to Technavio. The market has been segmented by type (domestic adventure tourism and international tourism), source ( indirect contribution, direct contribution, and induced contribution), and geography (EuropeAPAC, North America, South Americaand Middle East and Africa). The report offers a detailed analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Download FREE Sample Report

Adventure Tourism Market: Segmentation Analysis

APAC is expected to lead the adventure tourism market during the forecast period. The region will account for 31% of the market’s growth. The region is expected to register the highest growth owing to factors such as the significant increase in disposable income and the presence of numerous exotic destinations. Moreover, market growth in this region will be faster than the growth of the market in other regions. China and Japan are the key countries for the adventure tourism market in the region.

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The domestic adventure tourism segment is expected to witness significant growth during the forecast period, as the COVID-19 outbreak has restricted international travel, and consumer spending power has declined due to the economic slowdown. The growth in domestic adventure tourism is also driven by the absence of currency exchange favorable rates, government regulations, and familiarity with the culture and language. In addition, the growth of this segment is driven by the strong growth in developing economies owing to an increase in support opportunities by economic development and regional economic benefits.

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Adventure Tourism Market: Driver and Trend

The increasing disposable income is driving market growth. For instance, according to the data stated by the Bureau of Economic Analysis, in 2019, the disposable personal income (DPI) after the income tax increased from 0.3% in May 2019 to 0.4% in June 2019. According to the data published by the Department of Commerce, 95.5 million international visitors are expected to visit the US annually by 2023. This will boost the demand for luxurious travel to various destinations, which, in turn, will fuel the market growth during the forecast period.

Online reviews encouraging the travel industry is a key trend in the market. Travelers tend to check online reviews before planning a visit, owing to easy internet access and the rise in smartphone penetration. They get all the necessary information and tools in terms of testimonials through these reviews. This allows travelers to plan their journey and obtain food and lodging facilities in advance. In addition, online reviews provide direct access to images, videos, reviews, weather reports, and maps and guides of the destination. These factors will further support the market growth.

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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 East and Africa

Performing market contribution

APAC at 31%

Key consumer countries

US, China, Japan, Germany, Italy, US, China, Japan, Germany, and Italy

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Abercrombie and…

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