New report forecasts huge growth in ecotourism

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New report forecasts huge growth in ecotourism
Aguada de Lunas
Source: ronda360
September 14, 2022

Globally, the segment could reach a size of USD 7.11 billion by 2031

A report by ResearchAndMarkets.com reveals that the size of the global adventure tourism market could increase in size to USD 2,824.41 billion by 2030, with a CAGR of 28.8% between 2022 and 2030.

Adventure tourism involves exploring exotic destinations, venturing into remote areas, discovering nature, and traveling to other destinations outside of the comfort zone that includes physical activities, exchange of cultural values, and framing a deeper connection with nature. This tourism niche involves a certain degree of real/perceived risk or physical danger and may require special skills and physical exertion.

Adventure tourism includes various air, water and land activities such as mountaineering, trekking, hiking, diving, canyoning, sandboarding, paragliding, rafting, among others. These activities are carried out under the guided supervision of experts, using all safety measures such as helmets, harnesses and others, to avoid mishaps.

Market dynamics and trends
The global adventure tourism market is booming due to the exponential growth of the tourism industry. Furthermore, the youthful inclination towards exploring unknown destinations, growing demand for adventure sports, rising disposable income and reasonable travel packages are expected to complement the growth of the market during the forecast period.

However, factors such as potential risks involved in adventure travel, unpredictable weather conditions, and chances of mishaps are expected to hamper the growth of the global adventure travel market during the forecast period.

In addition, the increase in government initiatives in the form of public-private partnerships to promote tourism, the increase in travel trends on social networks, the high competition among travel agencies to offer reasonable travel packages, the restrictions on Reduced travel and economic developments are the responsible factors. to drive the growth of the adventure tourism market in the future.

North America is expected to dominate the global adventure tourism market, holding the largest market share during the forecast period. This is attributable to factors such as the presence of various adventure spots, high per capita disposable income, increased service offerings, and increased social media trends to visit new places on vacation.

Asia Pacific is anticipated to grow at the highest CAGR during the forecast period due to the increase in public-private initiatives to promote tourism and the inclination of youth towards adventure sports.

Glamping on the rise
According to a report by Valuates Reports, the global glamping market size was valued at $2.68 billion in 2021 and is projected to reach $7.11 billion by 2031, growing at a CAGR of 10.5 % between 2022 and 2031.

The main factors driving the growth of the Glamping market are:

The growing consumer preference for luxurious and comfortable campsites is one of the main factors driving the glamping market.

The growth of the glamping market will be fueled by the rise of music festivals and concerts, as well as the increased desire of clients to spend time in nature.

The growth of the industry will be fueled by the advent of retirement tourism, rising income levels and a greater emphasis on personal care in the coming years.

The growing influence of consumers on social media is anticipated to increase awareness of glamping and its benefits. Deep discounts and attractive vacation packages offered by numerous travel websites are also anticipated to benefit the Glamping market.

Trends influencing the growth of the glamping market
Over the course of the forecast year, more customers are anticipated to be interested in outdoor activities and close-to-nature experiences. This factor is expected to drive the glamping market.

One of the main variables anticipated to drive the Glamping Market is an expansion in the number of significant concerts and music festivals taking place every two weeks in different parts of the world. Furthermore, observers of travel trends have pointed out that while in the past home holidays were used exclusively for special occasions, in recent years families, groups of people, etc. They have discovered the desire to pamper themselves on their days off from work. People now prefer nearby getaways on long weekends, which is another contributing factor to the booming Glamping market.

Globally, the glamping movement promotes environmental awareness. Glamping site owners have a unique opportunity to highlight their selection of eco-friendly providers and educate visitors on the importance of reducing, reusing and recycling waste. Companies that are leading the sustainability movement are expanding their approaches to having a positive ecological impact and integrating ethical responsibilities into their corporate cultures. Being accredited by organizations like Green America or 1% for the Planet, as well as the American Glamping Association or TripAdvisor can distinguish conscientious glampers. This is expected to further boost the glamping market.

Due to the increasing emphasis on the need to create family memories and maintain relationships, the family travel segment is anticipated to dominate glamping market share based on application. Going out with the family is becoming more and more popular.

The 18-32 age group will have the highest earning potential. The demand for a comfortable and opulent outdoor experience will make the 33–50 segment grow faster.

Based on size, the 4-person segment will see a significant increase in glamping market share as group travel becomes more and more popular.

Due to their penchant for outdoor activities and demand for nature, consumers will experience the fastest growth among end users. The change from conventional camping to glamping is another factor of expansion.

Thanks to the discounts offered and the demand for a personalized shopping experience, the specialty store segment will enjoy the highest growth in terms of revenue during the forecast period.

The camping pods and cabins segment will experience the fastest growth in terms of product type due to increasing demand for services, lockable windows and doors, and security.

With the growing influence of social media influencers and the need for wilderness travel, North America will hold the largest market share and be the most lucrative region.


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