India has opened its market to a new economic boom by enabling and restructuring its Adventure Tourism Market. The natural variance in the terrains of the subcontinent of India enables several types of Adventure Tourism including sports. The 500 Billion worldwide Industries are growing at a rapid 18% rate year on year and India has been identified as the next big thing in the world of adventure tourism with its biodiversity.
- Economic Impact of Adventure Tourism
The huge industrial boom in the tourism sector is directly impacting the local business prospects. Indian hotel chains have already started witnessing the change. Adventure Tourism and Sports attract a huge number of foreign tourists who want to live the thrill of the adventures. In 2019 the Average Room Rate (ARR) was 5458.68 rupees but due to the growth in adventure tourism, the hotels are directly benefiting from the boom and the average room rate has gone up a lot. The forecast is that it will go up to 6292.95 rupees by 2025 Financial Year, which is a significant raise. Eventually, it helps with the overall GDP of the country. The data shows that the RevPAR was close to 1951.34 rupees in FY 2029 and it would go up to 3336.28 rupees by FY 2025.
The compound growth rate has been estimated at 2.49% which is pretty good considering the current state of the Tourism industry in the country. As per the Adventure Tourism Market Forecast, the next economic growth will happen in India and China. India would be able to contribute to 50% of the year-on-year growth of the global industry in the next few years.
The Indian Government has started taking initiatives as well to drive growth. They have started schemes like PRASHAD and SWADESH DARSHAN to attract more tourists. They started distributing more and more e-VISA to tourists. Adventure Tourism in India generally gets worked in distant areas of the country where local people benefit the most from the footfalls both homegrown and unfamiliar.
The housing and fooding game plans are fundamentally masterminded by local people. Additionally they fill in as nearby aides also. According to insights from Nielsen, in 2015 alone 190 million US Dollars were produced from Adventure Tourism while foreign sightseers created roughly 70 million US Dollars. Adventure Tourism alongside Adventure Sports draws in high-esteem clients from across the world and makes reasonable practices.
- What makes India unique for Adventure Tourism?
The cultural diversity, as well as the geography of the Indian subcontinent, attracts more and more tourists every year. Very few countries in the world offer the diversity India provides when it comes to adventure tourism in India. Recently the government has permitted trekking on 124 new peaks in the Himalayan ranges. Also, the major reason behind the idea of coming to India for adventure sports is its availability and cheap price. Due to overall declining GDP, tourism has become way cheaper for foreigners compared to other countries. But there are problems as well that everyone should consider before deciding.