Technavio, a tech-focused market research firm, has published a new report on the global adventure tourism market, which is expected to experience a slow but steady growth rate with a CAGR of around 46% during the forecast period 2016-2020.
This latest report by Technavio covers the market outlook and growth prospects of the global adventure tourism market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global adventure tourism market into the following key regions: Africa, the Americas, APAC, Europe, and ME.
Geographical segmentation of the global adventure tourism market for 2015 (market share %)
|
Europe |
40.64% |
|
APAC |
29.71% |
|
Americas |
22.57% |
|
ME |
4.33% |
|
Africa |
2.75% |
Source: Technavio
Adventure tourism market in Europe
In 2015, Europe accounted for around 41% of the global adventure tourism market. The countries like Germany, Switzerland, Iceland, and Spain are the biggest contributors of the tourism market in Europe. Adventure sports like paragliding, kite surfing, and hiking on mountains and glaciers make these countries quite popular.
According to Ujjwal Doshi, a senior analyst at Technavio, specializing in research on media and entertainment services “The emerging tourist attractions in countries like Albania and Serbia primarily drives growth in the adventure sports market in Europe, with their double-digit growth rates. With an impressive growth in the tourism markets of Hungary, Romania, Latvia, and Armenia, the European adventure tourism market is likely to grow at a tremendous CAGR of around 46% by 2020.”
Click here to request a free sample of this report
Adventure tourism market in APAC
In 2015, APAC accounted for around 30% of the global adventure tourism market. The APAC region was primarily driven by the Chinese population travelling internationally for adventure. The tourism market of China witnessed an outstanding growth in 2015 while Japan is expected to pick up growth by 2016. Tourism being the major revenue generator in countries such as Singapore, Malaysia, and Thailand, the governments of these countries have taken lots of initiatives to promote tourism, which led to an increase in the number of tourists in these regions. With the impressive global economic developments leading to better spending capability, more people in the APAC region are expected to travel internationally and engage in tourism activities. Owing to the launch of budget airlines such as Air Asia and Tiger Airways, travelling abroad has become much easier leading to the overall growth in the adventure tourism market.
Adventure tourism market in the Americas
The Americas accounted for around 23% of the global adventure tourism market in 2015. The key revenue generator of the region is the US. During the forecast period, the Americas is expected to witness high growth, especially in the tourism sector of South American countries. The Americas is a major hub for adventure sports such as surfing, trekking, caving, and hill climbing. Depending on the attractions which each country has to offer, the total contribution of adventure tourism to the GDP of the Americas varies. With the growing preference for hard adventure activities in several regions within the Americas, the adventure tourism market will witness considerable growth in the coming years.
Adventure tourism market in ME
In 2015, ME accounted for around 4% of the global adventure tourism market. This region is considered to be fastest- growing region in the global tourism market with key revenue generators like Saudi Arabia, Qatar, Egypt, and UAE. There have been several developments in the tourism sector of this region due to the growing popularity of adventure tourism across the globe. For example, Dubai has become quite popular for its growing tourism industry, which is due to the promotions of adventure sports such as skydiving, desert camping, reef-and-wreck-diving, and sea-kayaking done by the government. With a significant increase in adventure sports and activities, the revenue of the market is likely to boost during the forecast period.
Adventure tourism market in Africa
In 2015, ME accounted for around 3% of the global adventure tourism market. Famous for its wide variety of flora and fauna, Africa has huge number of beaches and cultural and natural attractions that leads to a positive growth of its adventure tourism sector. The country’s government is planning to come up with strong strategies to improve and promote natural resources of the country, resulting in increased number of tourists and subsequent growth in the adventure tourism market.
The top leading vendors operating in the global adventure tourism market are:
- Austin Adventures
- Explore Worldwide
- G Adventures
- Mountain Travel Sobek (MTS)
Other prominent vendors in the adventure tourism market include Boundless Journeys, Butterfield & Robinson, Classic Journeys, Geographic Expeditions, Intrepid Travels, Kensington Tours, Mantis Extreme, and Wilderness Travels.
A more detailed analysis is available in the Technavio report tilted, ‘Global Adventure Tourism Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Camping Tent Market in Europe 2016-2020
- Global Camp Kitchen Market 2016-2020
- Global Camping Tent Market 2016-2020
- Global Avalanche Safety Gear Market 2016-2020
To read more press releases- click here.
For any assistance or query, please contact our media team at:
media@technavio.com
US: +1 630 333 9501
UK: +44 208 123 1770
https://www.technavio.com/
