Project report for Adventure Tourism Industry

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Introduction

Adventure tourists alsofollow cultural and environmental aspects of destinations they visit. These cangreatly aide economic opportunities of local people in rural and remote communitiesin India. The best examples of which can be found in Jammu & Kashmir, Sikkim,North East India, etc. Apart from sustainable development of local communitiesadventure tourism also brings in socio-economic and cultural development in theregion. Adventure tourism is a vibrant, dynamic and fast-changing sector. Adventureactivities around the world are many and varied adapted  to available local resources and entrepreneurship. Over the past years, the tourism sector has developed and evolved significantly. Adventure tourism has evolved into one of the most important subsector in the Industry. The study is to explore the scope for Adventure tourism in India.

Adventure tourism is a niche tourism activity involving exploration or travel to remote area, where the traveller should expect the unexpected. Adventure tourism has grown exponentially worldwide over the pastfew years. Tourists explore new destinations looking for rare, incomparableexperiences. Adventure tourism can be domestic or international, and like all travelmust include an overnight stay, but not last longer than one year. Adventure tourism is resilient, supports local economies, attracts high valuecustomers and encourages sustainable practices. Adventure activities can belocalised in a particular place or could be extended over a region defined across adistrict in a particular state or across states. Similarly, the activities could vary greatlyamong tourists based on interests, inclinations and physical capacities.

Market potential & Strategy

The global adventure tourism market was valued at INR 44,313.05 Crores in 2018, and is projected to reach INR 1,22,947.37 Crores in 2026, registering a CAGR of 13.3% from 2019 to 2026. The development of the travel & tourism sector fosters the growth for adventure tourism market demand. Adventure tourism in India is growing 5-7 per cent annually and domestic adventure tourism is growing by 20-25 per cent. Over the past few years, the adventure tourism industry has grown exponentially, globally. Furthermore, travelers are interested to visit undiscovered destinations for enjoyment.

Moreover, increase in government initiatives in the form of public-private partnerships to promote tourism, surge in travel trends on social media, high competition among travel agencies in offering reasonable travel packages, reduced travel restrictions as well as the economic evolution are the factors responsible for propelling the growth of Adventure tourism market in future. 20 lakh individuals contribute in adventure tourism in India. Adventure tourism is one of its fastest growing segments. According to travel market survey. In FinancialYear 2019, 39 million jobs were created in the tourism sector in India; this accounted for 8.0% of the total employment in the country. International Tourists arrival is expected to reach 30.5 billion by 2028. e-Visa facility was offered to 169 countries as of December 2019.

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