Understanding the World of Tourism: Adventure Tourism Market Size, Key Providers, and Future Trends

This report delves into the adventure tourism market, discussing its market size, key providers, and future trends. It explores the customer profile, economic and socio-cultural impacts, and environmental factors affecting the sector. The report also conducts a SWOT analysis to identify the internal and external factors impacting the sector's growth.

Introduction
The tourism industry in connected to thoughts and ideas of people who are travelling to other
places either internationally or domestically for social, leisure or business purpose. In wider sense,
this industry is sum of all trades which directly offers products or services that help business, leisure
and pleasure activities (Mkono and Hughes, 2020).
Destinations/ activities/ sub-types
• Austin Adventure is offering its services in Billings, Montana, Australia, New Zealand, South
Carolina, Asia and Pacific, Africa, etc (Cheung and 2019). The activities offered by this small
ship adventure, safari and wildlife adventures, Hiking, Biking and multisport tours.
• Ultimate Adventure Travel Pvt. Ltd. offers its services in Australia, UK, South-east Asia,
Thailand, South Africa, New Zealand, Melbourne, Sydney and Europe. The activities offered
by this organisation are cycling trips, adventure holidays, walking and trekking, wildlife
adventure and river rafting.
Conclusion
From above discussion, it is interpreted that Adventure Tourism is a growing sector as
more and more people are excited to take adventure trips and activities throughout their life.
Key providers are discussed within the report who are operated in Adventure Tourism sector.
Destinations and activities are also discussed that states the locations where Adventure
Tourism is currently serving its activities. The future trends are also discussed within the
portfolio that shows what new activities and where will be introduced to develop this sector.
A SWOT Analysis of Adventure tourism is also conducted to know the impacts of internal
and external factors.
Future trends
Key providers/ organisations
There are several key providers or organisations in Adventure tourism and some of them are
listed below:
•Swim with seals, Lundy Island, Three peaks challenge, Discovery Nomads and Ultimate
Adventure Travel Pvt. Ltd, Austin adventure, etc.
•Other: Geographic Expedition, Recreational Equipment, Inc, TUI Group, Row Adventures, Orca
Dive club, Flying Fox, Snow leopard adventures, etc. References
Cheung, K.S. and Li, L.H., 2019. Understanding visitor–resident relations in overtourism:
Developing resilience for sustainable tourism. Journal of Sustainable Tourism. 27(8).
pp.1197-1216.
Hales, R. and Jennings, G., 2017. Transformation for sustainability: The role of complexity
in tourism students' understanding of sustainable tourism. Journal of Hospitality, Leisure,
Sport & Tourism Education. 21. pp.185-194.
Kaushal, V. and Yadav, R., 2020. Understanding customer experience of culinary tourism
through food tours of Delhi. International Journal of Tourism Cities.
Lam, K. L., Chan, C. S. and Peters, M., 2020. Understanding technological contributions to
accessible tourism from the perspective of destination design for visually impaired visitors
in Hong Kong. Journal of Destination Marketing & Management. 17. p.100434.
Macdonald, C. and Wester, J., 2021. Public understanding of wildlife tourism: defining
terms, harms, and benefits. Journal of Ecotourism. 20(2). pp.198-209.
Sharma, P. and Nayak, J.K., 2019. Understanding memorable tourism experiences as the
determinants of tourists' behaviour. International Journal of Tourism Research. 21(4).
pp.504-518.
Mkono, M. and Hughes, K., 2020. Eco-guilt and eco-shame in tourism consumption
contexts: Understanding the triggers and responses. Journal of Sustainable Tourism. 28(8).
pp.1223-1244.
PURNOMO, A., IDRIS, I. and KURNIAWAN, B., 2020. UNDERSTANDING LOCAL
COMMUNITY IN MANAGING SUSTAINABLE TOURISM AT BALURAN
NATIONAL PARK—INDONESIA. GeoJournal of Tourism & Geosites. 29(2).
Online
Demographic traits in customer profile, 2021[Online]Available
through:<https://www.alliedmarketresearch.com/adventure-tourism-market>
Adventure Tourism facts, 2021[Online]Available through:<https://www.rezdy.com/blog/5-
must-know-facts-about-adventure-tourism/>
Adventure Tourism statistics, 2021[Online]Available through:
<https://www.alliedmarketresearch.com/adventure-tourism-market>
Threats
Changes in regulation: When Government
make changes in the rules and regulations of
Adventure tourism, then it becomes a threat for the
sector as it might declines the profit margin.
Strengths
High barriers to entry: In Adventure tourism, it is
very complicated for businesses to take entry as there are
restrictions that has to be followed by the companies to take
entrance. Hence, it is a strength for the sector as no one can
easily take entry.
Opportunities
Develop more activities: It is an opportunity for
Adventure tourism to develop more adventure activities like
space tourism, underwater exploration within the sector
(Macdonald and Wester, 2021). It helps in expanding its market
share as well as business growth.
Weakness
Limited flexibility in pricing: Pricing
strategy within Adventure Tourism remains constant
for a long time period. It does not change frequently
like in other sectors because transportation cost is
high in this sector. So it becomes weakness for
Adventure Tourism that it cannot change its prices
frequently to increase the profits.
SWOT Analysis
Key facts, statistics and impacts Customer profile
Demographic
It involves gender, age group of people that are actively takes part in Adventure tourism. The age groups that
most prefers adventure tourism are 30 years, 30-41 years, 42-49 years, 50 years and above. Mostly male members are
active under Adventure tourism (Demographic traits in customer profile, 2021).
Geographic
It involves the locations and places from where the customers come. Within Adventure tourism, customers from UK,
Australia, New Zealand, Spain, India, United States, Germany, Thailand and Costa Rica come to do adventure trips and activities
like hiking and trekking, climbing, rafting, caving, etc.
Other
There are some factors that affect the behaviour of consumers. Examples of these factors are social factors,
personal factors, economic factors and situational factors (Sharma and Nayak, 2019). Main motivation to engage in
Adventure tourism is to have a “life-changing experience” and enjoy “ personal growth and challenge”. Travellers
also desires a sense of “accomplishment and achievement” and a feeling of “gratitude and mindfullness”.
Environmental impacts
The influence of Adventure tourism Adventure tourism impacts are caused by several activities like
rock climbing disturbing birds, hiking, diving damages coral reefs, etc. causes soil erosion (Hales and Jennings,
2017). Environmental depletion is caused by the disruption and deforestation of the environment.
Economic impacts
Within Adventure tourism this report displays a complex and large jump from 8% in 2019 to 18% in 2021. As
per the article which was published on Yahoo, a report of Allied market research discovers that $112 billion revenue
was there in Adventure tourism in 2020 during the period of COVID 19. But the prediction of research analyst
company was that Adventure tourism can earn $1,169 billion by the year 2028 (Adventure Tourism facts, 2021).
Socio-cultural impacts
The social impacts of tourism defines to changes in lives od people living in destination communities. The experiences
of the people are changed everyday. Its impact describes the effects of host countries direct and indirect realtion with
tourists.
Market size
Market size of Adventure tourism in 2020 was values at $112,227 million and it is assumed that it will reach
$1,169,095 million by the year 2028 (Adventure Tourism statistics, 2021). The report of Arival's Today's Tour taker
September 2021 expresses that in between 2019 and 2021, an increment in the number of adventure tourism was there
(Lam, Chan and Peters, 2020).
Title and Student names/ID/ Tutor name
Environmental
North America will be the largest destination for adventure tourism for the next decade as national parks
will be there that attracts global tourists and popularization of these destinations and others also on social media.
Asia pacific region is the second highest and it will estimated to have growth at the highest compound
annual rate of any region because of the recent initiatives taken by the destination fore promoting adventure tourism.
Economic
Market size of $380,687 million by the year 2028 which will be growing at a CAGR of 20.1% throughout
the forecast period.
Social
In context to consumer behaviour, the future trend involves:
• Sustainable holidays
• Consumers are more aware of their needs
• Interest in local culture and tradition
• Personalized experiences
• Looking for a personal challenge
Technological
Increasing automation, personalization of trips, mobile bookings, accommodation facilities are the
technological trends that will soon takes place in Adventure tourism.