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Adventure Tourism Market, Growth during 2022-2030 | Rise in Demand, Opportunities, Type, Future Analysis

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Kanika Bath

The Global Adventure Tourism Market size valued to USD 374.2 million in 2020, is expected an elevation of USD 4186.6 million by 2030 witnessing a CAGR of 26.7% from 2020-2030. Adventure tourism involves exploration of exotic destinations, venturing in remote areas, discovering the wilderness, and travelling to such other out-of-the-comfort-zone destinations that includes physical activities, exchange of cultural values and framing a deeper connection with the nature. This niche tourism entails a certain degree of real/perceived risk or physical danger as well as, it may require special skills and physical exertion. Adventure tourism includes various air, water and land activities like mountaineering, trekking, hiking, scuba diving, canyoneering, sandboarding, paragliding, river rafting, and others. These activities are performed under the guided supervision of experts, using all the safety measures like helmets, harness, and others, to avoid mishaps.

Market Segmentations and Scope of the Study:

The global adventure tourism market share analysis is based on type, activity, type of travelers, age group and geography. Based on type, the market is segmented into hard, soft and others. Based on activity, the market is classified into land based activity, water based activity, and air based activity. Based on type of traveler, the market is divided into solo, group, couple, and family. Based on age group, the market is bifurcated into below 30 years, 30 to 41 years, 42 to 49 years, and 50 years & above. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.

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Geographical Analysis

North America is expected to dominate the global adventure tourism market, holding the highest market share over the forecast period. This is attributable to factors such as presence of various adventurous places, high per-capita disposable income, increased service offering, and upsurge in social media trends for visiting new places in vacations. Asia Pacific is anticipated to grow at the highest CAGR throughout the forecast period owing to increase in public-private initiatives to promote tourism and inclination of youth towards adventure sports.

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Competitive Landscape

The global adventure tourism market, which is highly competitive, consists of various market players. Some of the major market players include G Adventures Inc., Austin Adventures, Inc., Mountain Travel Sobek, ROW Adventures, TUI AG., REI Adventures, Intrepid Group Limited, InnerAsia Travel Group, Inc., Abercrombie & Kent Group of Companies S.A. and Butterfield & Robinson Management Services, Inc. others. The past endeavors, present developments along with futuristic advancements, sum-up to comprehend the overall growth of the Adventure tourism market. For instance, in January 2020, Austin Adventures pioneered multisport and family adventure travel company offered eighty-plus trips across all seven continents, including a trip for every month in a year. Recently the five major players of the global adventure tourism market announced 5 exotic destinations to visit in the year 2020 viz: the ROW Adventures announced ‘Founder's Trip to Turkey,’ the Backroads announced ‘Sardinia & Corsica Multi-Adventure Tour’, a trip to the beaten path islands in Italy and France, the Austin Adventures announced the ‘Wyoming Yellowstone & Grand Teton National Parks Family Trip’ to Alaska, the Classic Journeys announced ‘Galapagos Island trip,’ and the Wilderness Travel announced ‘Hiking in the Celestial Mountains of Kyrgyzstan’.

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Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics. We carefully analyse the historical data, augment it by constantly keeping an eye on the latest industry trends and estimate the future events to arrive at accurate market forecasts.

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