Water adventure tourism revival supporting diving tourism growth at 5.9% CAGR: New study
27.11.2023 - 09:48
/ traveldailynews.com
/ Tatiana Rokou
In the year 2019, the diving tourism industry witnessed a growth of approximately 4.9% due to better and quicker air traveling, making previously remote areas accessible, easier traveling, increase in the number of paid holidays per person globally, increase in the outdoor activities among millennials in developing countries and other factors.
Diving tourism is becoming increasingly popular globally. With global travel and tourism industry projected to grow at above 13% in the coming decade, it will present lucrative opportunities for growth of diving tourism. ESOMAR-certified market research in a recent study has forecast the market for diving tourism to exhibit 5.9% CAGR between 2020 and 2030.
Rise in water adventure tourism is expected to remain a chief growth driver. Increasing demand for experiencing adventure sports and water activities has been driving special interest tourism. Against this backdrop, diving tourism market will be presented with attractive opportunities for growth.
Disintermediation-the Evacuation of Middle-Man Enabling Growth
In the travel & tourism sector, the inclination has been towards disintermediation, meaning the evacuation of the middleman – a tour administrator or travel planner/agent – who has traditionally associated the customer in the source market to the ground overseer in the objective market. As the vacationers can access information and trusted customer reviews online, they are likelier to go straight to the provider.
Explorers are progressively more associated with the adventure activities and seldom leave without a phone or tablet to capture their vacation moment or keep in contact with friends and family. This trend is breaking down geographic limits and permitting explorers to wander further afield than ever before.
Moreover, with the increase in government initiatives in the form of public-private partnerships to promote tourism, the surge in travel tendencies on online media, rivalry among travel services in the contribution of reasonable travel packages, reduced travel restrictions as well as the economic evolution are the factors responsible for propelling the growth of diving tourism market in foreseeable future.
Key Takeaways from the Diving Tourism Market Study
“Companies are recommended to focus on innovation & attractive services pertaining to various diving tourism activities and create moments beyond the expectations of travellers. Run more events like Fiji Fiesta which help to drive the bookings,” says the research analyst.
Impact of COIVD-19 & 2020 Market Analysis
The COVID-19 pandemic has considerably diminished global economic activity and caused critical instability and disturbance in global financial markets. The COVID-19 pandemic and the