Development of the travel and tourism adventure travel market

According to Precision Business Insights (PBI), the latest adventure travel market report is expected to be valued at US$68,730.8 million in 2022 and grow at a CAGR of 13.3% over the forecast period 2022- 2028. Adventure travel is a form of tourism that involves exploration or travel with perceived (and possibly real) risk and possibly requires specialized skills and physical exertion. In recent decades, adventure tourism has grown as tourists pursue various types of vacations. According to the US-based Adventure Travel Trade Association, adventure travel can be any tourism activity, including two of three components: physical activity, cultural exchange, or interaction and engagement with nature.

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The airline business accounted for a higher revenue share in the global adventure travel market:
On the basis of activity, the global adventure travel market is segmented into land activity, water activity, air activity. Airline activity generates higher revenues. Aerial adventure tourism includes hot air ballooning, paragliding/hang gliding, paramotoring, parasailing, ski diving, aerial safaris, kitesurfing. Paragliding is the recreational and competitive adventure sport of flying paragliders: a lightweight, free-flying, foot-launched glider aircraft with no rigid primary structure. The pilot sits in a harness or lies on his back in a cocoon-like “speed bag” suspended under a fabric wing that drives the global market.

North America leads the global adventure travel market:
Based on regional analysis, the global adventure travel market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. The global adventure travel market in North America contributed the largest share in 2021. “With national parks, bustling metropolises and quaint small towns connected by millions of miles of roads, North America offers something for everyone.Whether you want to get off the beaten track to explore the vast natural landscape or enjoy the amazing nightlife and cuisine offered across the continent.With the help of market players, significant growth of the market is observed.

The global adventure travel market is segmented on the basis of type of trip, activity, age group, sales channel and region:
By type of traveler
• Only
• Friends group
• Couple
• Family

By activity
• Land activity
• Aquatic activity
• Aerial activity

By age group
• Under 30 years old
• 30-41 years old
• 42-49 years old
• 50 years and over

By sales channel
• Travel agent
• Direct
• Others

By geography
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

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Profiles of key players in the global adventure travel market are: Austin Adventures, Inc., G Adventures Inc., Mountain Travel Sobek, TUI AG, ROW Adventures, REI Adventures, InnerAsia Travel Group Inc., Intrepid Group Limited, Butterfield & Robinson Management Services, Inc., Abercrombie & Kent Group of Companies SA

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Willie R. Golden