WTM Global Travel Report: Hunger for adventure drives innovation in travel

Tuesday, Nov 05, 2024 0

The rise of the global middle class is driving more demand for new holiday experiences – prompting the industry to offer more adventurous options, according to research from World Travel Market London, the world’s most influential travel and tourism event.

The exclusive WTM Global Travel Report – compiled in association with renowned researchers at Oxford Economics – has revealed that the emergence of more affluent consumers in markets around the world is driving “shifts” in the traditional travel norms – with some intrepid travellers even seeking riskier activities.

“The popularity of travel has fuelled remarkable creativity. Be it volcano-boarding in Nicaragua or cage-diving with sharks in South Africa, a broadening range of activities is available to consumers, driven by growing demand for new and unique experiences,” said the report, unveiled at WTM London on 5 November.

“Consumers are also more open to adventure, thrill-seeking and extreme experiences.

“Soft adventure activities, which are generally low risk and require limited experience, such as hiking, cycling and wildlife watching, represent the largest share of adventure tourism opportunities.

“However, hard adventure activities, like skydiving, mountaineering and whitewater rafting, are likely to gain increased traction among a typically wealthier audience more open to adventure and willing to take higher risks. This type of riskier travel is also known as frontier travel.”

Tourism Economics – an Oxford Economics company – found that 29% of travellers reported increased interest in adventure travel; 34% of consumers reported a growing interest in rural and nature-based tourism; and 57% of travellers are more interested in visiting new destinations compared to five years ago.

This increased demand for fresh places to visit will drive growth in smaller countries, such as Armenia and Serbia in Europe, as well as African destinations which offer safari holidays and adventure travel, added the report.

Saudi Arabia and Albania achieved visitor arrival growth of 80% and 74% respectively in 2024 compared to 2019, it noted, thanks to the urge to explore off the beaten track.

The “experience economy”, in which consumers prioritise memories over physical goods, has also seen growth over the last decade as developing markets have spent a higher share of their disposable income on travel, catching up the proportion of spending in many advanced economies.

Furthermore, Gen Z and Millennials place greater emphasis on experiences rather than materialistic goods, “which bodes well for the travel outlook”, added the report. “The seemingly boundless opportunities for travel companies to innovate by offering distinct and personalised offerings, aided by technology, presents exciting possibilities for the industry,” it said.

Juliette Losardo, Exhibition Director at WTM London, said: “This WTM Global Travel Report is a crucial overview for the industry to see how trends have developed during 2024 and what could be around the corner in 2025 and beyond.

“With the rise of the middle class in many more countries, there’s ever more demand for more unusual and authentic experiences as holidaymakers want to get under the skin of different cultures – or even tick off those exciting bucket-list activities with the ‘frontier’ travel trend we’ve been seeing.

“Our report will prompt discussions throughout the three days of WTM London and beyond, helping drive the innovation that will support sustainable growth in our sector.”

For more information and to book your ticket, please visit: https://www.wtm.com/london/en-gb.html