The Adventure Travel Trade Association (ATTA) recently released its 2024 Adventure Travel Industry State Snapshot Report, which analyzes market trends.
Key findings include popular travel destinations such as the Mediterranean, Western Europe, Scandinavia and North-East Asia, while popular activities range from hiking, walking and e-bike cycling to gastronomy, culture, safaris and wildlife watching, as well as wildlife and nature photography.
ATTA also found that adventure travel companies are diversifying their market base, targeting families, women, travelers over 50, LGBTQ+ travelers, etc.
In terms of business health, the survey found that revenue has recovered steadily since 2021, with 83% of respondents seeing increases from 2022 to 2023, and 85% expect their net profit in 2024 to be the same or higher than 2023. Notably, 80% expect revenue to be the same or higher than pre-pandemic 2019. Staffing is also doing well, with all departments reporting stable or 1-25% increases since 2022.
Our analysis: Adventure travel is becoming more appealing
The findings prove that adventure travel is a growing sector of the industry, and that this niche market has grown far beyond extreme activities and remote travel to encompass a variety of opportunities that appeal to a more diverse demographic of travelers. As adventure travel operators look to attract new types of guests, travel advisors should also look at their client lists to find the right fit for this niche market. Research shows that people who want to have new experiences, get off the beaten path and travel like a local are all top motivators for consumers.
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Breaking News: Other Key Findings from the Snapshot
– ATTA reported that average occupancy rates for trips in 2023 were 65%, the same as the previous year.
– The average number of travelers served was 6,553, up 54% from 2022 and 65% from 2019.
– Only 17% of companies reported a slight decrease in revenue in 2023 compared to 2022.
– 48% of respondents have or are working towards sustainability certification. The top reason for becoming certified is to contribute to protecting or improving the natural environment. The biggest obstacle to becoming certified is the high cost.
– In terms of ways businesses are taking climate positive action, 53% are reducing emissions by buying from more sustainable suppliers, 45% are sharing climate-conscious travel education, 41% are reducing emissions through water conservation and 40% are reducing emissions by sourcing food sustainably.
– Globally, the study found that almost two-thirds (62%) of bookings are made directly with service providers.
– Most of 2023's guests were couples, but Africa was popular with solo travellers, with groups flocking to the Middle East, Africa and Asia.
– 53% of guests were female (rising slightly to 55% among solo travelers) and 46% were male.
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– Similar to previous years, most adventure travelers in 2023 will be between the ages of 29 and 60. The average age ranges are 45 to 54 (38%), 55 to 64 (35%), and 35 to 44 (16%).
– Popular trip types include custom itineraries, soft adventures, remote locations, culinary-focused adventures, e-bike itineraries, expert or specialist-led trips, slow travel, more sustainable itineraries, off-peak travel, and family/multi-generational trips.
