PUBLISHER: The Business Research Company | PRODUCT CODE: 1582560
PUBLISHER: The Business Research Company | PRODUCT CODE: 1582560
An outdoor vacation is a travel experience centered around engaging with natural environments and participating in activities such as hiking, camping, or wildlife observation. It focuses on spending time in natural settings to enjoy recreational, adventurous, or relaxing pursuits, often with minimal urban interference and a strong emphasis on interacting with the outdoors.
The main types of outdoor vacations include volunteering trips, culinary tours, leisure tours, heritage trips, and others. Volunteering trips involve travel where participants engage in community service or environmental projects, combining vacationing with contributing to meaningful causes, such as building homes or teaching local communities. Travelers for these vacations can be couples, families, solo adventurers, or groups of various age groups, including Generation Z, millennials, Generation X, and baby boomers. Bookings for outdoor vacations can be arranged through different modes, such as travel agents or online travel agencies.
The outdoor vacation market research report is one of a series of new reports from The Business Research Company that provides outdoor vacation market statistics, including outdoor vacation industry global market size, regional shares, competitors with a outdoor vacation market share, detailed outdoor vacation market segments, market trends and opportunities, and any further data you may need to thrive in the outdoor vacation industry. This outdoor vacation market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The outdoor vacation market size has grown rapidly in recent years. It will grow from $702.07 billion in 2023 to $841.01 billion in 2024 at a compound annual growth rate (CAGR) of 19.8%. The growth observed during the historic period can be attributed to several factors, including increased disposable income levels, growing awareness about health, rising interest in adventure and experiential travel, government support and promotion of tourism, and expanded spending by the middle class.
The outdoor vacation market size is expected to see rapid growth in the next few years. It will grow to $1,740.16 billion in 2028 at a compound annual growth rate (CAGR) of 19.9%. The projected growth during the forecast period can be attributed to several factors, including the rise of remote work and digital nomadism, improvements in global transportation networks, increasing demand for high-quality outdoor gear, a growing interest in ecotourism, and heightened awareness of climate change impacts promoting eco-friendly and nature-based travel choices. Key trends expected during this period include the adoption of IoT and AI-based technologies, rising use of virtual reality (VR) technology, increased adoption of contactless payments, growth in mobile payment solutions, and the rise of integrated payment systems.
The shift towards adventurous tourism is anticipated to drive significant growth in the outdoor vacation market. Adventure tourism involves travel that includes physical activity, exploration, or visits to remote or exotic locations, often providing a high level of excitement and challenge. This trend reflects a growing consumer demand for unique, immersive experiences, a pursuit of personal challenges, and increased access to previously remote destinations. Outdoor vacations complement adventure tourism by offering diverse environments for activities such as hiking, climbing, and kayaking, which appeal to adventure seekers and contribute to the market's expansion. For example, in January 2022, the Outdoor Industry Association, a US-based non-profit organization, reported that the number of hiking participants reached 58.7 million in 2021, an increase of 889,000 from 2020. This shift towards adventurous tourism is thus expected to propel the growth of the outdoor vacation market.
Key companies in the outdoor vacation market are focusing on advanced travel services, including adventure tours, to attract thrill-seekers and adventure enthusiasts by offering unique experiences. Adventure tours provide a range of exciting and immersive activities, from hiking and wildlife safaris to extreme sports. For instance, in March 2024, Trek Travel, a US-based tour company, introduced new hiking and walking tours featuring destinations such as Italy's Cinque Terre, Scotland, Portugal, and Ireland. These tours offer guests premium accommodations, fine dining, and expert guides, delivering a remarkable adventure experience.
In April 2021, GetYourGuide, a Germany-based travel platform, acquired Guidatours for an undisclosed amount. This acquisition allows GetYourGuide to gain greater control over its supply chain and establish a vertically integrated tour and distribution brand. Guidatours, based in France, specializes in city tours and outdoor activities, including adventure sports.
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
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.
The countries covered in the outdoor vacation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The outdoor vacation market includes revenues earned by entities through accommodation services, guided tours, activities, and transportation services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Outdoor Vacation Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on outdoor vacation market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for outdoor vacation ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The outdoor vacation market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.