Dublin, Jan. 06, 2025 (GLOBE NEWSWIRE) -- The "Outdoor Vacation Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global outdoor vacation market is experiencing a significant surge, showcasing rapid growth from $702.07 billion in 2023 to an anticipated $841.01 billion in 2024. This remarkable expansion, calculated at a compound annual growth rate (CAGR) of 19.8%, underscores a robust upward trajectory in the industry. Experts attribute this growth to a confluence of factors, including heightened disposable incomes, an increased emphasis on health consciousness, burgeoning interest in adventure and experiential travel, and considerable middle-class expenditure in the sector.
Forecasted Developments
Looking forward, the outdoor vacation market is poised to continue its swift ascension. Projections estimate that by 2028, the market will have ballooned to $1.74 trillion, boasting an impressive CAGR of 19.9%. Several key elements are fuelling this forecasted growth: the proliferation of remote work opportunities, enhancements in global transportation infrastructure, amplified demand for superior outdoor equipment, and a surging interest in eco-friendly tourism practices.
Adventurous Tourism: A Driving Force
Adventure tourism's evolution into a cornerstone of the outdoor vacation market indicates a profound shift in consumer preferences. This shift leans heavily towards experiences that are both immersive and thrilling, catering to the desires of those seeking personal challenges and unparalleled adventure. Outdoor activities such as hiking, climbing, and kayaking have seen an uptick, indicative of the broader market's expansion and diversification.
Industry Innovators
Leading companies within the industry are not resting on their laurels. Instead, they are steadfastly innovating, introducing cutting-edge travel services tailored to the demands of adventure seekers and enthusiasts. From premium guided tours to expertly curated excursions in remote locales, these firms are sculpting distinctive experiences that resonate with modern travelers' quest for adventure and exploration.
Acquisitions and Market Dynamics
The market has also witnessed strategic acquisitions, enabling the integration of advanced distribution and supply chain operations. These business maneuvers exemplify the industry's adaptive nature and relentless pursuit of greater market share and consumer satisfaction.
Regional Insights
North America currently leads the outdoor vacation market, with Asia-Pacific regions showing the most potential for accelerated growth within the forecast period. These regional market analyses present a comprehensive overview, reflecting the nuanced, multifaceted nature of the global outdoor vacation landscape.
Definition and Scope
The outdoor vacation market encompasses varied travel experiences, primarily focusing on interaction with natural environments. From leisurely excursions to high-octane adventuring, outdoor vacations offer a spectrum of activities that cater to a diverse clientele. The report covers assorted vacation types, including volunteer trips and heritage tours, and analyzes booking modes ranging from traditional travel agencies to modern online platforms.
Market Value and Considerations
The reported market value encompasses the totality of revenue generated through accommodations, activities, tours, and transportation services. It reflects the economic vitality of the sector and provides an accurate measure of goods and services exchanged. This comprehensive analysis ensures a clear understanding of the market's current state and its future outlook.
The industry's future is robust, with clear indicators of continual growth and diversification. The outdoor vacation market is not only contributing to economic prosperity but also reshaping the way people engage with travel and outdoor experiences worldwide.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $841.01 Billion |
| Forecasted Market Value (USD) by 2028 | $1740 Billion |
| Compound Annual Growth Rate | 19.9% |
| Regions Covered | Global |
Some of the major companies profiled in this Outdoor Vacation market report include:
- 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
For more information about this report visit https://www.researchandmarkets.com/r/kw0z70
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
