We know it sounds counter-intuitive, but it appears that we oldsters are rapidly becoming a driving force in the expansion of adventure travel – particularly in what’s known as global adventure travel.
A new report conducted by San Francisco-based market research and consulting company, Grand View Research concludes that the adventure travel segment is estimated to reach US$1.009 trillion by 2030, growing at 15 percent and outpacing traditional mass tourism all over the world.
Adventure Travel Defined
What is adventure travel? It’s travel that encompasses such activities as rafting, trekking, cycling or going on safari, among many other pursuits. Adventure travel can be pricey, and many of the key organisational players in the category include prestigious brand names such as Butterfield & Robinson Inc., Geographic Expeditions Inc., and Cox & Kings Ltd.
The worldwide adventure tourism business is anticipated to become one of the fastest expanding tourist sectors, driven by rising disposable incomes, the influence of social media, and affordable airline tickets.
Older Individuals Are Fueling This Growth
So, who’s going on these adventures? The 51-60 age group segment dominated the market and captured revenue share of over 25.0% in 2021, according to the report. The progressive rise in the number of adventure travellers from this age range is the key factor fueling the segment’s growth.
The older couples segment continues to be an important part of the travel market, capturing the largest revenue share of over 40.0% in 2021. The segment is expected to show prominent growth in the near future driven by increased disposable income and a growing desire for cultural and outdoor activities – which interest in our Everything Retirement travel blog posts seems to prove.
Direct Bookings On the Rise
The expansion of this market segment is attributed to the fact that people in this age group are financially stable and have the enthusiasm to engage in a variety of adventurous activities and experiences. Reaction to our E-Book Maverick: The Mindset of the Modern Retiree validated that point – in spades.
Although the more prestigious adventure travel organisations continue to dominate the adventure travel category, the fully independent traveller (FIT) appears to be pushing back. Direct bookings accounted for around 65.0% share in 2021 and they appear to be growing.
Social Media Savvy Seniors Lead the Charge
An increasing number of adventure travellers are choosing to book their tours, trips and packages directly using user-friendly adventure travel mobile websites that are accessible on smartphones.
The oldster generation is, as Everything Retirement audience data proves, increasingly social media literate. We are not afraid to book our adventure tour packages through direct booking channels. This brave new trend in travel proves, once again, that the older generation continues to celebrate their advancing years with an undiminished appetite for the unusual, the exciting, the challenging and the offbeat. Up, up and away!