by The Australia adventure tourism industry provides guests with unique experiences while promoting environmental awareness. The growing interest in eco-friendly travel and connectivity to nature has boosted demand for curated adventure tours. The Australia adventure tourism market offers a wide range of activities from jungle zip-lining and rock climbing to surfing lessons and diving in the Great Barrier Reef.
Australia Adventure Tourism Market is estimated to be valued at US$ 30.02 Bn in 2024 and is expected to exhibit a CAGR of 18% over the forecast period 2024 to 2031.
Key Takeaways
Key players: Key players operating in the Australia adventure tourism are AAT Kings Tours Limited, Contiki, Discovery Nomads, G Adventures, Insight Vacations, Inspiring Journeys, Intrepid Group, Ltd, Intro Travel, Ultimate Adventure Travel Pty Ltd, and Trafalgar Travel.
Key players operating in the Australia adventure tourism market are focusing on expanding their service offerings and global footprint. AAT Kings Tours Limited and Contiki being the largest operators are extensively using digital platforms to enhance customer experience.
Growing demand: The growing desire to explore new destinations coupled with increasing disposable income has been fueling demand for unique travel experiences. Moreover, Australia is witnessing a surge in adventure-seeking youth traveling.
Global expansion: Major players are exploring opportunities in emerging markets through partnerships and mergers. Companies are also promoting regional tours to international markets to further aid global expansion plans.
Market key trends
One of the key trends noticed in the Australia Adventure Tourism Market Size is customized tour packages. Operators are focusing on curating specialized itineraries tailored to the interests of customers rather than fixed group tours. This has helped improve customer satisfaction levels. Furthermore, factors such as flexible booking options, safe travel amid the pandemic, and sustainable practices by tour companies are some other trends gained traction in attracting new customers.
Porter’s Analysis
Threat of new entrants: The adventure tourism market in Australia requires high initial investments and has well established players, making entry difficult for new companies.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of various adventure travel options in Australia. However, differentiated offerings by companies provide some customer switch costs.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to the fragmented nature of the industry and availability of substitutes. However, asset specificity gives them an edge in negotiations for services like equipment rentals and transportation.
Threat of new substitutes: Substitute options like inland discovery, eco-tourism and wildlife experiences pose a moderate threat as they provide comparable experiences to adventure tourists.
Competitive rivalry: Intense due to presence of many global and regional players competing on the basis of experience, branding and regional specializations.
Geographically, Victoria and New South Wales account for over 60% share in the Australia adventure tourism market value owing to presence of adventure hotspots like Grampians and Blue Mountains.
Western Australia is emerging as the fastest growing regional market on back of increasing investments to promote adventure sports like hiking, surfing and rock climbing in destinations such as Ningaloo Reef and Pemberton. Abundance of natural assets and favorable government support schemes are helping the region attract more adventure tourists.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. LinkedIn
