Global Outdoor Vacation Market Size, Share And Growth Analysis For 2024-2033
Outdoor Vacation Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Global Outdoor Vacation Market Size, Share And Growth Analysis For 2024-2033
LONDON, GREATER LONDON, UNITED KINGDOM, October 12, 2024 /EINPresswire.com/ -- The outdoor vacation market has experienced rapid growth in recent years. It is projected to increase from $702.07 billion in 2023 to $841.01 billion in 2024, reflecting a CAGR of 19.8%. Contributing factors include rising disposable income, growing awareness of health benefits, increased interest in adventure and experiential travel, government support for tourism promotion, and enhanced spending by the middle class.
What Is The Estimated Market Size Of The Global Outdoor Vacation Market And Its Annual Growth Rate?
The outdoor vacation market is projected for rapid expansion, reaching $1,740.16 billion in 2028 at a CAGR of 19.9%. Key growth drivers include remote work, improved transportation networks, and rising interest in eco-friendly travel. Major trends include IoT and AI technology adoption, VR integration, and contactless payment solutions.
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Growth Driver of The Outdoor Vacation Market
The shift towards adventurous tourism is anticipated to drive the growth of the outdoor vacation market in the future. Adventure tourism encompasses travel that involves physical activities, exploration, or visiting remote or exotic locations, often providing excitement and challenges. The rise in adventure tourism reflects consumers' growing desire for unique and immersive experiences, a quest for personal challenges, and increased access to previously remote destinations. Outdoor vacations enhance adventure tourism by offering diverse, immersive environments for activities such as hiking, climbing, and kayaking, appealing to adventure seekers and contributing to the sector's growth.
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Which Market Players Are Driving The Outdoor Vacation Market Growth?
Major companies operating in the outdoor vacation market are American Express, Expedia Inc., Recreational Equipment Inc., Travel + Leisure, World Travel Inc., Abercrombie & Kent USA LLC, Intrepid Travel, Thomas Cook, Kensington Tours Ltd., G Adventures, Micato Safaris, Backroads, Autocamp, Hipcamp Inc., Butterfield & Robinson, Zicasso, Exodus Travels Limited, Scott Dunn Ltd., JTB Americas Ltd., Austin Adventures, Cox & Kings, Outdoor Travel Adventures
What Are The Emerging Trends Shaping The Outdoor Vacation Market Size?
Companies in the outdoor vacation market are focusing on advanced travel services, such as adventure tours, to attract thrill-seekers and adventure enthusiasts. These tours offer unique experiences ranging from hiking and wildlife safaris to extreme sports, appealing to those looking for excitement and immersion in nature.
How Is The Global Outdoor Vacation Market Segmented?
1) By Tour Type: Volunteering Trips, Culinary Tour, Leisure Tour, Heritage Trip, Other Tour Types
2) By Traveler Type: Couple, Family, Solo, Group
3) By Age Group: Generation Z, Millennial, Generation X, Baby Boomers, Other Age Groups
4) By Mode Of Booking: Travel Agent, Online Travel Agency
Geographical Insights: North America Leading The Outdoor Vacation Market
North America was the largest region in the outdoor vacation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the outdoor vacation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Outdoor Vacation Market Definition
An outdoor vacation emphasizes travel experiences that engage with natural environments, featuring activities such as hiking, camping, and wildlife observation. This type of vacation promotes recreational and adventurous pursuits, maximizing interaction with nature and minimizing urban interference.
Outdoor Vacation Global Market Report 2024 from The Business Research Company1 covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global outdoor vacation market report covering trends, opportunities, strategies, and more
The Outdoor Vacation Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on outdoor vacation market size, drivers and trends, outdoor vacation market major players, competitors' revenues, market positioning, and market growth across geographies. The market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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