Mountain & snow tourism market to double to USD 8.6 bn by 2032, says FMI

Changing consumer preferences driving demand growth
/ New Delhi
Mountain & snow tourism
Mountain & snow tourism market to double to USD 8.6 bn by 2032, says FMI

Snow tourism sector is set to double in size globally within a decade

Mountain and snow tourism market is set to double within a decade, reaching USD 8.6 billion in the year 2032, says a new report by Future Market Insights, which attributes growth to changing consumer preferences and rising demand for fitness.
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Driven by rapidly growing demand for fitness and outdoor activity, the mountain and snow tourism sector is set to double in size globally within a decade, says a new report by market research and analysis company Future Market Insights (FMI).

As per newly released data by FMI, the mountain and snow tourism is estimated at USD 4.30 billion in 2022 and is projected to reach USD 8.60 billion by 2032, at a CAGR of 3.60 pc from 2022 to 2032.

FMI says that thanks to a rising disposable, travellers are keen to explore new places and as part of this mountain and snow tourism has received a great response from travellers in last few years. The report says that as mountain and snow tourism is based in remote regions far away from the city, it allows visitors to come out of the hectic city environment and enjoy their leisure activities peacefully.

Moreover, mountain and snow tourism is a year-round sector that is operational in summer as well as in winter, conducting various activities throughout the year. This, too, propels demand for this sector, says FMI.

Moreover, as people become more conscious of their physical and mental well-being and also due to growing stress and diseases like diabetes and heart disease, people are becoming more health conscious, says FMI. Therefore, tourists intend to choose adventurous outdoor activities. Skiing, trekking, and horse riding are few of the sports that are attracting huge audiences. Apart from this the mountain and snow tour agencies are framing strategies by partnering with gyms, yoga clubs and other fitness institutions for events like treks and mountain climbing and promoting the mountain and snow tourism.

FMI says that mountain and snow tourism destinations are selected based on a variety of factors, including climate, resource accessibility, transport convenience, ecological sustainability and conservation initiatives.

FMI says that the tour operators are partnering with eco-hotels for accommodation services whereas guiding and educating travellers towards green practices. Meanwhile for travellers’ safety travel agencies also organise training camps for mountain and snow activities training. Apart from this, they have also introduced certified instructors along with safety team for the safety of travellers.

Mountain and snow tour organisers also get an opportunity to diversify their business activities to enhance customer experience. With ample of space availability, the travel agencies, the hospitality providers of mountain and snow tourism market focus on expansion of their business verticals such by adding additional sport activities organising various cultural and fun events, developing infrastructure by adding certain new amenities such as spa and yoga centres and indoor gaming zones to provide enhanced service feel to their customers. This results in wide selection of services for a traveler to tag in along with the mountain and snow sport activities.

FMI says that India is one the world’s largest travel and tourist market and the Indian government is constructing infrastructure, including roads and railway connections. Another large market is the United States of America that has many attractive places for snow and mountain tourism. The US is also home to one of the largest ski resorts in the world such as Park City, Big Sky Resorts, Snowmass and Steamboat.

Apart from this various gyms, and fitness clubs promote events of trekking and mountain sports eventually. According to the analysis, in terms of tour type, the mountain and snow tourism is preferred by all kinds of travellers be it an individual traveller, group traveller, or family tour.

FMI says that the number of visitors between the ages of 15 and 25 and 26 and 35 is anticipated to increase because the above traveller segment is youthful, full of enthusiasm and capable of engaging in snow and mountain sports. Furthermore, the specific age group is attracted towards the trends of mountaineering, campaigning, and other activities, says FMI, adding that social media helps to create a huge impact in encouraging the youth to visit such destinations. Lastly the promotional strategy, marketing tools and deals from tour agencies attract youths to opt for mountain and snow tourism.

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