Global Adventure Tourism Market Overview, 2023-28

Adventure tourism is a growing section of the tourist business that focuses on vacation experiences that include adventure activities. These activities usually entail physical exertion, interaction with environment, and excitement, and they are frequently held in wild or distant places. Hiking, mountain climbing, rafting, and scuba diving are all examples of adventure tourism. The adrenaline rush and the possibility for personal growth, skill development, and a deeper regard for natural and cultural contexts are what draw people to adventure tourism. This tourism category is gaining popularity due to its potential to encourage sustainable practices, as it frequently relies on pristine natural settings and hence has an interest in their preservation. The adventure tourism industry witnessed humongous growth and related spending due to the increased number of travelers in recent years. Driven by rising income levels in developing geographical locations and reduction in prices of costs in aviation and accommodation, the demand for adventure tourism is expected to expand. The number of international tourists has increased to an exorbitant number, thus, favoring the growth of the market. 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 include 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, sand-boarding, 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. The growing tourism promotional activities by the government of several countries are likely to augment the demand in the forecast period. For instance, in Nov 2020, The Indian Ministry of Tourism has promoted adventure tourism in India by the ‘DekhoApnaDesh' webinar series titled“12 Months of Adventure Travel. The webinar virtually shows the enormous strength, potential, and the buried secrets of India. It covers forests, mountains, rivers, mangroves, deserts, islands, wildlife, canals, and more than 31 adventure activities that will enchant an Indian and an abroad traveler.

According to the research report, “Global Adventure Tourism Market Overview, 2023-28” published by Bonafide Research, the market is anticipated to cross USD 750 Billion by 2028, increasing from USD 328.29 Billion in 2022. The market is expected to grow with more than 15% CAGR by 2023-28. The rapid growth of the tourism industry and demand from young travellers are important drivers for the Global Adventure Tourism Market. The youth are inclined towards exploring less explored destinations. Other important drivers are the rising demands of adventure sports, the rise in disposable income, and travel package offerings. Rising tourism promotional activities and initiatives by the government and the growing popularity of travel trends on social media are expected to provide new profitable opportunities leading to the growth of the Adventure Tourism Market. Also, several travel agencies are providing packages at nominal prices. Other opportunities lie in the adoption of simulators and virtual environments in adventure tourism and continuous innovation with the introduction of artificial intelligence in the operations of adventure tourism. Thus, there are ample growth opportunities for the market. However, there are some restraints like unpredictable weather conditions, risks associated with it, and the chances of mishaps. 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 include 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, sand boarding, 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.

The Asia-Pacific region is experiencing significant growth in the adventure tourism industry, driven by a combination of diverse landscapes, cultural richness, and a surge in demand for unique and immersive travel experiences. The region boasts a wide range of natural wonders, from the towering peaks of the Himalayas to the lush rainforests of Southeast Asia, providing a playground for various adventure activities such as trekking, mountaineering, jungle safaris, and water sports. Moreover, the cultural diversity and historical heritage of countries within the Asia-Pacific region add an extra layer of appeal for adventurous travelers seeking authentic experiences. The rise of a burgeoning middle class with increased disposable income in countries like China and India has led to a growing appetite for experiential travel, further fueling the demand for adventure tourism. Governments and tourism boards in the region are also recognizing the economic potential of adventure tourism and investing in infrastructure, safety measures, and marketing efforts to promote their unique offerings. As a result, the Asia-Pacific region has become a hotspot for adventure enthusiasts, contributing significantly to the global growth of the adventure tourism industry. Hard activities, encompassing physically challenging and adrenaline-pumping pursuits, are experiencing a notable surge in popularity within the adventure tourism industry. This growth can be attributed to the evolving preferences of modern travelers who increasingly seek experiences that go beyond conventional sightseeing. The allure of hard activities lies in the thrill of pushing one's physical and mental limits, providing a sense of accomplishment and self-discovery. Whether it's rock climbing, extreme trekking, or engaging in water sports like white-water rafting, these activities offer an unparalleled opportunity for individuals to test their courage and resilience in unique and awe-inspiring environments. The rise of social media has also played a significant role, with adventurers sharing their daring experiences and inspiring others to seek similar challenges. As the demand for transformative and memorable travel experiences continues to grow, the popularity of hard activities in adventure tourism is poised to expand, attracting a diverse range of thrill-seekers from around the globe. The industry's focus on safety standards and the provision of expert guides further contributes to the appeal of these hard activities, ensuring that participants can embark on these adventures with confidence.

Water-based activities are experiencing a notable surge in the adventure tourism industry, driven by a combination of factors that cater to the evolving preferences of modern travelers. The allure of water activities lies in the dynamic and immersive experiences they offer, combining the thrill of adventure with the natural beauty of aquatic environments. From white-water rafting on rushing rivers to kayaking through scenic coastal landscapes, water-based adventures provide a unique blend of excitement and connection with nature. The growing interest in sustainable and responsible tourism practices has also played a role, as water activities often allow participants to explore and appreciate fragile ecosystems firsthand. Additionally, the rise of social media has amplified the visibility of water adventures, inspiring individuals to seek out and share their experiences. Adventure seekers are increasingly drawn to the diverse offerings of water activities, recognizing them as a refreshing and exhilarating way to engage with the environment while satisfying their thirst for memorable and transformative travel experiences. As the demand for adventure tourism continues to rise, water-based activities are positioned for further growth, providing a thrilling avenue for travelers to explore the world's waterways. Solo activities are witnessing significant growth within the adventure tourism industry as a result of shifting travel trends and changing consumer preferences. The rise of solo travel is a manifestation of the increasing desire for independent and self-directed journeys, where individuals seek personal growth, self-discovery, and a sense of empowerment through solo adventures. This trend is particularly pronounced among millennials and solo female travelers who value the freedom to explore destinations at their own pace, make spontaneous decisions, and immerse themselves in unique experiences. Adventure tourism operators are responding to this demand by offering specialized solo-friendly packages that prioritize safety, flexibility, and opportunities for solo travelers to connect with like-minded individuals during group activities. The appeal of solo activities lies in the autonomy they provide, allowing solo travelers to tailor their itineraries, challenge them in a controlled environment, and cultivate a deeper connection with the destinations they explore. As the stigma around solo travel diminishes and the perception of adventure as a personal journey evolves, the growth of solo activities in adventure tourism is expected to continue, reshaping the industry to cater to the needs and aspirations of the independent and adventurous solo traveler.

Adventure tourism is experiencing notable growth among the 30-50 years age group, reflecting a shift in the preferences and priorities of this demographic. Individuals within this age range often find themselves at a life stage where they seek a balance between career responsibilities and personal fulfillment. The desire for adventure serves as a means of breaking away from routine and embracing novel experiences. The 30-50 age group is increasingly drawn to activities that provide a mix of excitement, cultural enrichment, and opportunities for self-reflection. Adventure tourism operators are responding to this trend by curating experiences that cater to the diverse interests and fitness levels within this demographic. Whether it's embarking on a challenging trek, exploring vibrant local cultures, or engaging in water-based adventures, these activities offer a perfect blend of thrill and introspection. Additionally, as this age group often has greater financial stability, they are more inclined to invest in unique and meaningful travel experiences. The growing popularity of adventure tourism among the 30-50 years age group signifies a quest for a balanced and fulfilling lifestyle, contributing significantly to the overall expansion of the adventure tourism industry. The travel agents' booking mode is experiencing growth in the adventure tourism industry due to the complexity and unique requirements associated with adventure travel. As the demand for personalized and immersive experiences rises, travelers often seek the expertise and convenience offered by travel agents. Adventure tourism involves intricate logistics, safety considerations, and access to specialized activities, making it a more intricate planning process compared to traditional vacations. Travel agents, equipped with industry knowledge and a network of reliable operators, can navigate the complexities of adventure travel seamlessly. Their role extends beyond booking flights and accommodations; they assist in crafting comprehensive itineraries, arranging guided excursions, and ensuring that safety standards are met. Additionally, for those new to adventure travel, the guidance of a travel agent provides a sense of reassurance and expertise, addressing concerns about unfamiliar destinations and challenging activities. This booking mode not only streamlines the planning process for adventure enthusiasts but also enhances the overall quality and safety of their experiences, contributing to the growing prominence of travel agents in the adventure tourism industry.



Market Drivers

• Increasing Disposable Income and Affluent Millennial Demographic: The growing affluence of the millennial demographic, coupled with increasing disposable income, is a significant driver of the global adventure tourism market. Millennials, known for prioritizing experiences over possessions, are fueling the demand for unique and memorable travel adventures. The financial capacity of this demographic allows them to invest in more specialized and premium adventure experiences, ranging from luxury safaris to exclusive trekking expeditions. As this influential demographic continues to shape travel trends, adventure tourism operators are tailoring offerings to meet the preferences and expectations of the economically empowered millennial traveler.

• Globalization and Cultural Exchange: The interconnectedness of the modern world and the ease of global travel contribute to the growth of adventure tourism. The exchange of cultural influences and the desire to explore diverse landscapes attract travelers to venture beyond their local surroundings. The globalization of adventure tourism is evident in the increasing popularity of cross-cultural experiences, where travelers seek encounters with unique traditions, cuisines, and lifestyles. The interconnected nature of the globalized world fosters a sense of curiosity and a desire for cross-cultural interactions, driving the demand for adventure tourism experiences worldwide.

Market Challenges

• Regulatory and Permitting Challenges: The regulatory landscape for adventure tourism activities varies significantly across regions and countries. Obtaining permits, adhering to safety regulations, and navigating bureaucratic processes can pose substantial challenges for adventure tourism operators. Inconsistent standards and regulations create complexities in planning and executing adventure experiences. Addressing these regulatory challenges requires collaboration between the industry and regulatory bodies to establish clear guidelines that prioritize both participant safety and the sustainability of adventure tourism destinations.

• Changing Climate and Natural Disasters: Climate change poses a threat to adventure tourism destinations, affecting weather patterns, natural landscapes, and the predictability of outdoor activities. Increased occurrences of natural disasters, such as hurricanes, wildfires, and earthquakes, can disrupt adventure tourism operations and compromise the safety of participants. Sustainability and resilience planning are crucial in the face of climate-related challenges, emphasizing the need for the industry to adapt practices that contribute to environmental conservation and disaster preparedness.

Market Trends

• Solo Adventure Travel: Solo adventure travel is an emerging trend within the global adventure tourism market, driven by the increasing number of solo travelers seeking independent and self-discovery journeys. Adventure tourism operators are responding to this trend by offering solo-friendly packages, ensuring safety measures, and creating opportunities for solo travelers to connect with like-minded individuals during group activities. The desire for personal growth and the freedom to pursue individual interests contribute to the popularity of solo adventure travel.

• Customization and Personalization: The trend towards customization and personalization in the global adventure tourism market reflects the diverse preferences of modern travelers. Adventure tourism operators are providing more flexibility in itineraries, allowing participants to tailor their experiences based on specific interests and skill levels. Personalized adventures cater to a broad spectrum of travelers, from novices seeking introductory experiences to seasoned adventurers looking for more challenging pursuits. This trend underscores the industry's commitment to delivering tailored and memorable experiences that resonate with the unique preferences of each traveler.

Competitive Landscape

The worldwide adventure tourism market is characterized by a dynamic and competitive landscape, with existing businesses and emerging entrants competing to meet the growing demand for adventurous and experiential travel. The market's major companies are actively changing the industry through strategic efforts. They also place a premium on sustainability, using eco-friendly techniques and responsible tourism concepts to reduce their environmental impact. Furthermore, these main businesses are investing in technology, utilizing digital platforms to expedite bookings, improve client experiences, and supply explorers with real-time updates. Collaborations with indigenous organizations and local communities are becoming increasingly widespread, ensuring that the benefits of adventure tourism are shared with the population of the regions. Major companies profiled in the market includes Globus Tours, Topdeck Travel, World Expeditions, Recreational Equipment, Inc, Thomson Family Adventures, International Expedition, Make My Trip Pvt.Ltd., Austin Adventures, G Adventures, Cox & Kings Ltd., Intrepid Travel , ROW Adventures, Expedia, Inc., Lindblad Expeditions, Abercrombie & Kent , MT Sobek - Mountain Travel-Sobek, TUI Group, Logistur DMC, CVC Corp , Wild Frontiers.

Key Developments

• In January 2023, Austin Adventures Inc. announced special packages for families planning holidays in the U.S. with free visits to national parks, including adventure sports such as water activities trekking, and many others.

• In April 2023, Abercrombie & Kent, luxury Travel Company launched a new expedition cruise that will give guests a chance to venture to Earth's northernmost point.

• In December 2022, the Maharashtra government of India introduced Adventure Tourism Activities Policy for travellers across the globe. The new policy implementation is mandatory for all the camps, hotels, adventure companies, and other adventure activity conductors to follow the Directorate of Tourism (DoT) guidelines.

• In October 2022, Row Adventures announced a four-day trip of water-based adventure sports like river rafting with the lodge to lodge row adventures in Oregon. The marketing strategy is considered to initiate consumer footfall during peak seasons.

• In December 2022, Active Adventures and Austin Adventures launched their revamped brands, driven by feedback from guests, employees, and partners, with a focus on delivering inspiring global adventure travel experiences.

Considered in this report:

• Geography: Global
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report:

• Global market with its value and forecast along with its segments
• Region -wise Adventure Tourism market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Regions covered in the report

• North America
• Europe
• Asia-Pacific
• South America
• Middle-East & Africa

By Type

• Hard
• Soft

By Activity

• Land Based Activity
• Water Ways Activity
• Air Ways Activity

By Type of Traveller

• Solo
• Group
• Family
• Couples

By Age Group

• Below 30 Years
• 30–50 Years
• Above 50 Years

By Sales Channel

• Travel Agents
• Direct

The approach of the report:

This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:

This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Adventure Tourism industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.