Tuesday, December 5, 2023
In a recent report titled “Adventure Tourism Market” by Allied Market Research, the adventure tourism market achieved a valuation of $324.90 billion in 2022 and is anticipated to reach $1947.5 billion by 2032, with a Compound Annual Growth Rate (CAGR) of 19.5% from 2023 to 2032.
The global adventure tourism market is witnessing growth driven by factors such as rising income levels in emerging geographical areas, decreased costs related to air travel and accommodation, the convergence of mobile applications, big data analytics, and artificial intelligence in the expanding tourism industry, and widespread internet penetration. However, challenges to market growth include increased terrorism, crime rates, political instability, and natural disasters. Conversely, opportunities arise from the surge in social media usage, substantial investment in infrastructure, and advancements in technology.
The Middle East Adventure Tourism Market dominated in 2032, with innovation and consumer behavior identified as key drivers. Tour operators are diversifying their offerings to attract customers, including adventure cruises featuring game shows, casinos, outdoor activities, and fine dining experiences. The market in the Middle East is expected to grow significantly, fueled by a variety of adventure activities, government support, and initiatives promoting tax incentives and subsidies.
Despite being perceived as an unsafe and unstable region due to armed conflicts and political unrest, the Middle East adventure tourism market presents growth opportunities for new entrants. E-visa policies, which streamline visa applications and reduce costs, are expected to benefit market growth. The region has seen a rise in tourism activities, with unique offerings like ‘no-limits’ tours, providing immersive cultural experiences and adventure activities.
The Middle East adventure tourism market is expanding with diverse activities like wildlife safaris, dune-bashing, hiking, camel safaris, and horse-riding gaining popularity. The region is witnessing rapid growth, with travel agents offering unique products and services, investing in new developments, and adopting various marketing and pricing strategies to remain competitive. Major players in the market include Qatar Airways, Thomas Cook, Kuoni Group, Emirates Airlines, Saudi Arabian Airlines, Expedia, Etihad Airways, TUI, Travel PLC, Intrepid Travel, and Lufthansa Airlines.
Tags: adventure tourism, Middle East
Saturday, April 27, 2024
Saturday, April 27, 2024
