Global Adventure Tourism Market to Experience Accelerating Growth by 2027, due to Rapid Adoption of Novel Technologies by Industry Players

Analysis of Global Adventure Tourism Market

Adventurism tourism is a travel activity that involves cultural exchange, activities in the nature and physical activity. Although it includes travel and exploration, a certain degree of risk is involved in it. Moreover, adventure travelling is also about interacting and connecting with a new landscape and cultures. Due to these aspects, more people are becoming interested in adventure tourism. These factors are predicted to propel the growth of the adventure tourism market in the analysis period. According to United Nations World Tourism Organization (UNWTO), international tourist arrivals across the world were accounted to be 1.1 billion and adventure tourism has increased by 5.0% in 2019 as compared to 2018. Adventure travel operators are focusing on virtual reality, in order to offer tourists with realistic visual experience of adventure activities and natural surroundings. These factors are anticipated to boost the growth of the adventure tourism market in the analysis period.

The potential risks involved in the adventure tourism market are unpredictable climate changes, cultural & language loss, habitat loss, & erosion. These factors are predicted to hamper the growth of the adventure tourism market in the analysis period. As per a newly published report by Research Dive, the global adventure tourism market is predicted to garner $1,796,243.8 million by 2027. 

Geographically, European market for adventure tourism is estimated to dominate the global industry. A significant rise has been recorded in the number of solo travelers across the Europe in recent years, resulting in a surge in the number of online travel agents. Owing to this factor, the European market is anticipated to witness accelerating growth.The key players operating in the global industry include G Adventures, Butterfield & Robinson Inc., Abercrombie & Kent USA, LLC., MTSOBEK, Intrepid Group, Recreational Equipment, Inc., Austin Adventures, Topdeck Travel Limited, ElderTreks, and Lindblad Expeditions.

Key Developments in the Industry

The key companies operating in the industry are adopting several growth strategies & business tactics such as mergers & acquisitions, collaborations, partnerships, and launches to maintain a strong position in the overall market, which is subsequently assisting the adventure tourism market to grow across the world.

• In November 2019, Lindblad Expeditions, a travel and holiday company of the U.S., announced a nature and culture expedition that will explore the Caribbean coast. This is supposed to be an exhilarating 8-day expedition.  Starting from Cartagena and all the way to Panama City, it will explore the South American coast. In this the tourists can explore the region’s astonishing cultural and natural treasures.
• In November 2019, Topdeck Travel Limited, a global Australian travel brand, appointed Lab, a unit of the Lab group of agencies, to revamp its digital platform. The new platform will use a combination of consumer neuroscience and psychology in order to upgrade its digital experience and make it more appealing to the brand's target customers.
• In February 2020, Intrepid Group, an adventure travel company, partnered with WWF-Australia in order to support Antarctica’s marine life. The new partnership’s aim is to form a protected Southern Ocean marine area. The Intrepid Foundation declared that over the next two years, it will aid in WWF-Australia’s project to protect the Antarctic Giants with a funding of $150,000.

Impact of COVID-19 on the Industry

The pandemic of COVID-19 has had an undesirable impact on the global adventure tourism market growth in 2020. As per the World Travel and Tourism Council (WTTC), the number of adventure travelers has drastically declined due to global shutdown and travel limitations. But, the global adventure tourism market is anticipated to rise at a significant rate after recovery from COVID-19 pandemic, due to various strategies followed by leading market players.

For instance, in May 2020, Abercrombie & Kent, expanded their offering in the Alaska and American West by introducing 6 new tailor made adventure trips and 2 new American road trips. The company also introduced new trips through Tailor Made USA itineraries category. This category covers culinary tours and inspiring wine tours in Sonoma and Napa valleys, national parks in California, Arizona and Utah and wildlife experiences in Wyoming and Alaska. These factors are anticipated to propel the growth of the adventure tourism market in the analysis period.