The Adventurous Travel Market Size is on the Rise in 2021
The adventure travel market is booming and it shows no signs of stopping in 2021. People are seeking new experiences and opting for more thrilling and adventurous travel options. In this article, we will explore the size of the adventure travel market and its opportunities.
The Adventure Travel Market: By the Numbers
According to a report by Allied Market Research, the global adventure travel market size was valued at $619.5 billion in 2018 and is expected to reach $1,626 billion by 2026, with a CAGR of 13.3% from 2019 to 2026. The growth of this market is driven by factors such as an increase in disposable income, a rise in the number of middle-class families, and a surge in interest in adventure sports and activities.
Types of Adventure Travel
Adventure travel includes various types of activities such as hiking, mountaineering, rock climbing, bungee jumping, white-water rafting, kayaking, camping, and more. People are also looking for off-the-beaten-path experiences, such as exploring remote areas of countries and immersing themselves in different cultures. Adventure travelers often engage with local communities and seek eco-friendly and sustainable travel options.
The Impact of COVID-19 on the Adventure Travel Market
The COVID-19 pandemic had a significant impact on the travel industry, including the adventure travel market. However, as travel restrictions are easing, people are looking for safe and secure travel options and adventure travel is becoming one of the go-to options. Post -COVID, people are more aware of their mental and physical wellbeing, and they are willing to invest in experiences that promote a healthy lifestyle.
Opportunities in the Adventure Travel Market
Travelers are looking for unique and authentic experiences that cannot be replicated. The adventure travel market provides opportunities for travel agencies, tour operators, and accommodations to tap into this growing market. By providing exciting, safe, and sustainable travel options, companies can differentiate themselves and attract a larger customer base.
Conclusion
The adventure travel market is expanding and presents opportunities for businesses to capitalize on this trend. With increasing demand for unique and authentic travel experiences, the adventure travel market is ripe for innovation and growth. Companies that can offer safe and sustainable travel options while catering to the needs of the adventure traveler stand to benefit the most.
