Camping and caravan market to rise 7.6 pc CAGR up to 2030

Europe to stay dominant, new markets join in, says Future Market Insights
2022-09-08
/
/ New Delhi
/ Hotels
Camping and caravanning
Camping and caravan market to rise 7.6 pc CAGR up to 2030

Millennials are increasingly seeking luxury camping as their preferred stay options

With development of proper infrastructure to boost camping and caravanning, the global market for this type of tourism is set to register a healthy growth of 7.6 pc on annualised basis between 2022 and 2030.
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Going camping or caravanning has long been a popular option for holiday-makers in Europe and the continent is set to retain its top position in this market as travel resumes after the Covid-19 pandemic, says a new study.

In its report on the market, Future Market Insights, a global industry and economy research firm, says that the European region is expected to retain its dominant position in the global camping and caravanning market, due to increase in frequency and length of holidays by young population in the caravan camping parks, coupled with growing trend of mobile homes without relying on hotels or motels in the region.

The market is set to expand steadily and will grow at a CAGR of 7.6 pc between 2020 and 2020, says FMI, adding that currently, many nations, including the Philippines, India, Thailand, Brazil, and the United Arab Emirates, are investing considerably in their airports to improve arrival/departure facilities for a large number of visitors in the near future.

The FMI report adds that besides infrastructure development and restoration of camping sites or construction of new ones will propel the growth. Other factors cited by FMI that is boosting the expansion of the camping and caravanning sector include the enhancement of lifestyle, highlighting culture and variety, and constructive collaborations between governments to develop infrastructure for better living and commuting.

According to the report, companies are increasingly focussed on customer loyalty programmes, as the camping and caravanning is a customer-driven market, and players target a particular set of customers and retain them by meeting their requirements. Accordingly, the development of technology-driven, customer-centric services and innovative discount offers through gift cards is expected to boost the revenue of the companies in the global camping and caravanning market, says the report.

Another trend helping the growth is e-gifting that is gaining popularity among consumers, owing to advantages such as convenience, easy availability, and customisation benefits. Thus, prominent players in the camping and caravanning market offer e-gift cards to customers with an objective to retain them in the future, it says.

Among destination types, the privately owned campgrounds segment is anticipated to show a relatively higher CAGR in the global camping and caravanning market in the near future, as increasing number of millennial campers has led to a rise in demand for luxury camping facilities across the globe.

“Prominent players in the global camping and caravanning market are focussing towards loyalty programs to attract customers towards camping activities. Moreover, prominent players are significantly advertising and promoting gift cards for campers through social media and other offline stores to increase customer awareness and retention rate,” says an FMI analyst.

Staying connected on social media while camping remains a priority for the millennials. The availability of Wi-Fi and improved cell phone service at campgrounds is increasing the active participation of millennials in camping parks and this in turn is anticipated to propel the camping and caravanning market in the foreseeable future. Additionally, the fast-paced advertising and technological landscape has become an essential part of the camping and caravanning industry, as tourists seek the best travel experience in a shorter duration is another factor drives the global camping and caravanning market over the forecast period.

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Hotel companies expand to camping

Over the years, some surprising players have entered the market that was earlier extremely fragmented with most camping sites being family-owned, single site companies. But besides consolidation of some camping firms, hotel giants have also entered the market. Some of the key players operating in the market today include the hotel giants Accor, Internacional Palamos, Radisson Hotel Group, Haven Leisure Limited,  Hilton, Tentrr, HIPcamp, Vacansoliel, Selectcamp and ACSI Holdings, says the FMI report.

Several prominent market players are significantly exploring new camping sites as more and more people are showing interest in adventure camping and glamping. Besides this, companies are also significantly improving their digital presence to meet customer expectations and introducing new customer loyalty programs by providing personalised experiences and reserving exclusive offers for members.

In January 2020, Hilton introduced a new lifestyle hotel brand ‘Tempo’, to serve the growing segment of modern achievers. This new chain of hotels, with wellness and sustainability at the foundation, provides a unique experience to younger and eco-friendly travellers. This expansion is anticipated to help the company expand its product portfolio and market footprint worldwide, says FMI.

In 2020, ACSI Holding BV introduced new ACSI guides and apps for campers who likes to visit campsites with their own motorhome. This will enable travellers to camp at bargain prices off-season at more than 3,600 campsites in Europe. It will also provide extensive information about 8,000 ACSI-inspected campsites, says the report.

Also ReadIncentive travel market to grow to USD 879 bn by 2032

Adventure tourism market to reach USD 336.4 billion in 2032.

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