According to a report published by Research Dive, the global adventure tourism market is projected to increase in revenue from USD $609,000.million in 2019, to nearly $1.8 million by 2027.
That's a rise of 15 per cent each year.
The report revealed what’s driving adventure tourism, and what the industry can expect in the years ahead.
“Soft Adventure” travel has the highest market share with a growth rate of 60.9 per cent in 2019. The report says that soft adventure travel is further expected to maintain its top spot, and become the most lucrative type of adventure travel between now and 2027. That’s because of its lower risk level, and minimal experience required to participate.
Land-based adventure activities are the biggest money makers. In 2019 land-based activity accounted for over $380 million, and is expected to become the most profitable form of adventure travel by 2027. That’s a result of the perennial popularity of land-based sports activities including wildlife safaris, cycling tours, and trekking.
Family adventure travel was valued at nearly $170 million in 2019. The report claims that family adventure travel is the most beneficial, as adventure trips help enhance family bonding by engaging families in memorable activities. By the end of 2027, family adventure travel is expected to be worth over $500 million.
Nearly half of the adventure travel market in 2019 is attributed to 20 to 30-year-olds. The report points out that age group’s preferences in exploring other cultures and experiencing wildlife. The report suggests that this growth will continue, and that this age group will produce the highest revenue compared to all other age groups participating in adventure travel between now and 2027.
Europe as an adventure travel destination is expected to continue to dominate the adventure travel market, with revenues of over $600 million by the end of 2027, followed by the Asia-Pacific region.
