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Adventure Tourism Market Trends

Report ID: GMI8396
Published Date: Mar 2024
Report Format: PDF

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Adventure Tourism Market Trends

The use of Virtual Reality (VR) technology for history tours is driving growth in the adventure tourism industry. These immersive experiences transport participants to historical sites, allowing them to explore ancient civilizations and landmarks virtually. For instance, in February 2024, the Saudi Ministry of Culture introduced the inaugural National Cultural Metaverse Platform, providing users with access to virtual reality history tours and various immersive experiences.

This pioneering initiative in the Metaverse realm is underpinned by the Generative Media Intelligence (GMI) artificial intelligence system. Developed in collaboration with droppGroup and its groundbreaking Phygital Metaverse, this initiative leverages Hyperledger Fabric 2.5 blockchain technology to offer an innovative blend of physical & digital experiences.

Authentic cultural experiences are increasingly sought after by adventure travelers seeking meaningful connections with local communities and a deeper understanding of diverse cultures. These experiences often involve immersive interactions with indigenous groups, participation in traditional ceremonies and rituals, and hands-on engagement in local crafts and culinary traditions. By fostering cross-cultural exchange and mutual respect, authentic cultural experiences not only enrich the traveler's journey but also contribute to the preservation of cultural heritage and the socioeconomic development of local communities, making them a cornerstone of sustainable and responsible adventure tourism.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of adventure tourism reached USD 483.3 billion in 2023 and is set to witness 15.2% CAGR between 2024 and 2032, attributed to the increasing investments to enhance adventure tourism, facilitating the development of infrastructure, such as improved trails, accommodations, and recreational facilities.

The soft adventure tourism segment accounted for a market share of over 65% in 2023, due to its accessibility, and emphasis on safety & comfort.

Europe market share was over 39% in 2023, propelled by the diverse landscape and established infrastructure in the region.

Austin Adventures, Inc., Butterfield & Robinson Inc., Desert Adventures, Discovery Nomads, G Adventures, Arabian Advetures, Get you Guide, Big Bus Tours, Geographic Expeditions Inc., and Intrepid Group, ltd.