Adventure tourism is growing in popularity among tourists looking for distinctive experiences that combine excitement, adventure, and exploration. Rock climbing, bungee jumping, white-water rafting, trekking, camping, and many other activities are included in adventure tourism. It is anticipated that this type of tourism will increase even more in the years to come. It has been expanding at an astounding rate in recent years.
The global adventure tourism market, estimated at $586.3 billion in 2018, is expected to reach $1,626.7 billion by 2026, rising at a CAGR of 13.3% from 2019 to 2026, according to a report by Allied Market Research. According to the survey, millennials and baby boomers are becoming more interested in adventure, there is more disposable income available, and outdoor activities are becoming more popular.
Small business owners, especially those in the outdoor industry, have a lot to gain from the expansion of adventure tourism. Sales of outdoor businesses that cater to adventure tourists, like camping supply shops, hiking and trekking outfitters, and adventure travel companies, are projected to rise. In the United States, the camping and outdoor recreation sector produced $788 billion in consumer spending in 2019, according to a Statista analysis.
Outdoor-related small company startups can be lucrative endeavors. However, it necessitates thorough preparation and a large start-up expenditure. Rent for the store location, inventory, equipment, and marketing fees are some of the start-up costs for an outdoor retailer. However, there is a good chance of making money, and given the rising interest in adventure travel, the investment may eventually be profitable.
There are various choices to take into consideration for individuals looking for a novel business concept in the adventure tourism sector. A glamping (glamorous camping) business is one of these concepts. Glamping provides visitors with a posh camping experience complete with facilities like cozy beds, hot showers, and gourmet food. An adventure travel firm that specialized in planning unique outdoor excursions for customers is another innovative company concept.
To sum up, the adventure tourism sector is expanding and offers tremendous opportunities for small business entrepreneurs. Sales of outdoor retailers targeting adventure travelers are projected to rise, and beginning a small business in the outdoor sector might be lucrative. Entrepreneurs can profit from the expanding demand for adventure tourism by carefully organizing their business ventures and investing in start-up costs. Additionally, there are innovative company concepts that can provide tourists with a fresh and thrilling experience, including glamping and adventure travel companies.
Traveling to far-flung or exotic destinations with the intention of taking part in physically demanding activities like trekking, rock climbing, or white-water rafting is known as adventure tourism. By providing distinctive and thrilling experiences that appeal to this demographic, small company owners can profit from the expansion of adventure tourism.
A distinctive benefit or advantage that a product or service gives to customers that differentiates it from the competition is referred to as a unique selling proposition (USP) in marketing. A unique selling proposition (USP) in the context of adventure tourism could be a particular activity or experience that is exclusively offered by a single business, such a guided tour of a remote mountain range or a personalized adventure package catered to a customer’s interests. In a cutthroat sector, having a compelling USP can assist small business owners draw in and keep clients.