Adventure Tourism Market Growing at Nearly 46%
2016 global adventure tourism market research says availability of low-cost airlines will be a key trend for market growth which saw 56.51% tourist travelling by flights, an increment from the 54% in 2014.
Further, adventure tourism involves more traveling to reach a point from where the adventure activities start. For instance, adventure tourists need different modes of transportation because activities such as mountain climbing, caving, hiking, and skydiving are organized far away from the main city.
Due to the increasing influx of international tourists, many new budget-friendly airlines are being launched to cater to the increasing transportation needs.
Complete report on adventure tourism market spread across 70 pages, analyzing 4 major companies and providing 50 data exhibits now available at www.sandlerresearch.org
This analyst forecast the global adventure tourism market to grow at a CAGR (compound annual growth rate ) of 45.99% during the period 2016-2020. According to the adventure tourism market report, increased preference for adventure over other tourism activities will be a key driver for market growth. In 2015, the adventure tourism industry generated revenue of $7.88 trillion.
However, the definition of tourism is changing rapidly. The beachside vacation or regular sight-seeing holidays are losing its market to adventurous activities such as skydiving, surfing, rock or mountain climbing, caving, and deep-sea diving that involve high risk.
The international adventure tourism market is likely to grow at a fast pace during the forecast period and is anticipated to post a CAGR of more than 46% by 2020. Much of the segment’s growth can be attributed to the increased popularity of international holiday destinations among global tourists.
Countries such as France, Germany, Spain, and Iceland are the most preferred adventure tourism destinations for the international tourists. The rise in the number of adventure sports in these countries is resulting in higher tourist arrivals, which is spurring the growth prospects for the overall market.
Europe dominated the adventure tourism market and accounted for more than 40% of the total market share. Some of the most popular adventure sports that attract tourists in the region include paragliding, kite surfing, and hiking on mountains and glaciers.
The market growth in the region is also driven by some of the emerging destinations in countries like Albania and Serbia, which have posted double-digit growth rates. The healthy growth of adventure tourism markets of Hungary, Romania, Latvia, and Armenia will result in the high growth of the European adventure tourism market, which will post a high CAGR of around 46% during the forecast period.
The following companies are the key players in the global adventure tourism market: Austin Adventures, Explore Worldwide, G Adventures, and Mountain Travel Sobek. Other prominent vendors in the market are: Boundless Journeys, Butterfield & Robinson, Classic Journeys, Geographic Expeditions, Intrepid Travels, Kensington Tours, Mantis Extreme, and Wilderness Travels. Order a copy of Global Adventure Tourism Market 2016-2020 report @ www.sandlerresearch.org.
Global Adventure Tourism Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. To calculate the market size, the report considers the revenue generated from tourism types.