Subscribe to RR1 Live+ for exclusive virtual events all year long , conversations with Robb Report editors, special perks, and more., Michael Brown firmly grasped the safety ropes as he stepped onto the metal ladder. His crampons clinked on the rungs as he made his way across. Acutely aware of the danger he had put himself in, he continued, lured onward by something intangible.
“During the pandemic, people were sitting at home, examining their lives, which created a pent up demand for making travel a priority,” says President Shannon Stowell. “Now, adventure travel is exploding. The concept of small group travel in remote locations is way more appealing, compared to visiting over-touristed locations.”Then the industry received a reality check.
In 2021, the global adventure tourism market was valued at $282.1 billion, according to a report by Grand View Research. It’s now projected to expand at a compound annual growth rate of 15.2 percent from 2022 to 2030, with the hard adventure segment representing a significant revenue share of more than 20 percent. This is credited to a gradual increase in the number of travelers that are willing to take high-risk activities and are open to adventures.
Lifelong explorer Milbry Polk, co-author of “Women of Discovery,” emphasizes that travelers need to choose companies that have very good track records.