Reportocean.com have announced the addition of a new report titled "Global Adventure Tourism Market and Forecast to 2026"
Delhi, India -- (SBWIRE) -- 11/26/2019 -- Based on the latest insights in the report title " Global Adventure Tourism Market by Type (Hard, Soft, and Others), Activity (Land-based Activity, Water-based Activity, and Air-based Activity), Type of Traveler (Solo, Friends/Group, Couple, and Family), Age Group (Below 30 Years, 30-41 Years, 42-49 Years, and 50 Years & Above), and Sales Channel (Travel Agents and Direct): Global Opportunity Analysis and Industry Forecast, 2019-2026", by Report Ocean the Market is growing at a CAGR of more than 13.3% by 2026.
The report published on the global adventure tourism market revealed the growth to be at a CAGR of 13.3% between 2019 and 2026. The adventure tourism market was further stated to surpass its previous valuation of $586.3 billion in 2018 and generate a potential valuation of $1,626.7 billion by 2026.
The surging growth of the travel and tourism industry stands out as the root behind the growth of the adventure tourism market. It is referred to as a form of traveling wherein an individual is out of their comfort zone or regular environment. Adventure tourism includes length of stay, repeat visits, average spending, amenities, adding anchors and activities, and elements that increases the attendance level. It can involve a number of adventurous activities like caving, climbing, hunting, hiking, rafting, cycling, and others. Tourism is a highly profitable market landscape, under which adventure tourism comes-in and is growing at a rapid pace.
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The market for adventure tourism is gaining considerable growth in recent years due to the increasing competition level in the travel industry, economic growth, growing number of government initiatives introduced to promote the tourism industry, reduced restrictions surrounding travel, and heavy promotion strategies adopted by tourism organizations. The growth of social networking has opened up new opportunities for the market and is majorly driving the market demand among travelers. However, the unpredictable weather conditions and the risks associated with adventure-based traveling can challenge the growth of the market in the coming years.
The global adventure tourism market has been segmented in terms of type, travelers, age group, sales channel, and activity.
By type, the market includes soft, hard, and others.
By travelers, the market segments into family, solo, friends/group, and couple.
By activity, the market is categorized into water-based activity, air-based activity, and land-based activity.
By age group, the market narrows down into 42-49 years, below 30 years, 30-41 years, and 50 years & above
By sales channel, the market divides into direct channel and travel agent.
The global adventure tourism market is geographically distributed across the following key regions: Latin America, Asia Pacific, North America, Europe, and the Middle East and Africa.
Asia Pacific regional market for adventure tourism is enjoying significant growth and is attracting travelers from all around the globe. Moreover, herein the tourist arrival and receipts are anticipated to rise continually, compared to other regions. The diverse landscape of Asia Pacific makes it one of the most sought-after locations when it comes to traveling. The region includes a host of attractions in the form of national parks, rainforests, wildlife reserves, and so on.
The global adventure tourism market comprises a host of key players. This includes names like Intrepid Group Limited, ROW Adventures, Austin Adventures, Inc., Butterfield & Robinson Management Services, Inc., Mountain Travel Sobek, TUI AG., InnerAsia Travel Group, Inc., G Adventures Inc., REI Adventures, and Abercrombie & Kent Group of Companies S.A.
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