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Future Market Insights launch report on Diving Tourism Market 

Future Market Insights launch report on Diving Tourism Market 
January 21, 2021

In its new study, ESOMAR-certified market research and consulting firm, Future Market Insights (FMI) offers insights about key factors driving demand for diving tourism. The report highlights the significant increase in demand for diving tourism in 20+ high-growth markets, along with analysing the impact COVID-19 has had on the water adventure tourism industry in general, and diving tourism in particular.

Diving tourism is becoming increasingly popular globally. With global travel and tourism industry projected to grow at above 13% in the coming decade, it will present lucrative opportunities for growth of the diving tourism. The FMI study forecasts the market for diving tourism to exhibit 5.9% Compound Annual Growth Rate (CAGR) between 2020 and 2030.

However, during 2020, aspects of the diving tourism business were unfavourably affected by the COVID-19 pandemic. Coronavirus and the subsequent travel limitations around the globe, along with the Movement Control Order (MCO) put into place, has severely impacted the tourist and diving industry across the world.

E-learning has been growing in popularity for some time and has been embraced by various training agencies and dive centres like PADI, SDI, NAUI but the flow of divers and dive students is expected to be very low.

In the travel & tourism sector, the inclination has been towards disintermediation, meaning the evacuation of the middle-man - a tour administrator or travel planner/agent - who has traditionally associated the customer in the source market to the ground overseer in the objective market. As the vacationers can access information and trusted customer reviews online, they are likelier to go straight to the provider.

Explorers are progressively more associated with the adventure activities and seldom leave without a phone or tablet to capture their vacation moment or keep in contact with friends and family. This trend is breaking down geographic limits and permitting explorers to wander further afield than ever before.

Moreover, with the increase in government initiatives in the form of public-private partnerships to promote tourism, the surge in travel tendencies on online media, rivalry among travel services in the contribution of reasonable travel packages, reduced travel restrictions as well as the economic evolution are the factors responsible for propelling the growth of the diving tourism market in foreseeable future.

Key Takeaways from the Diving Tourism Market Study

•The revenue generated by the travel and tourism industry was approximately 6.3% of the global gross domestic product in the year 2019 and diving tourism was approximately 0.003% of the total GDP in 2019

•In the year 2019, the diving tourism industry witnessed a growth of approximately 4.9% due to better and quicker air travel, making previously remote areas accessible, easier travelling, increase in the number of paid holidays per person globally, increase in the outdoor activities among millennials in developing countries and other factors

•Online booking is the most lucrative booking channel for the coming foreseeable future. The companies are currently focusing on digital media platforms due to consumer’s inclination towards third-party services

•In-personal booking account for the highest value share in the diving tourism market. However, online booking is expected to expand at the highest CAGR owing to secure payment, easy cancellation policy, and less paperwork.

•Europe holds the largest value share in the global diving tourism market due to growing consumer consciousness and the high concentration of operators and destination sites in the region, which accelerates the market in the specific region.

Some of the key players operating in the diving tourism market are Fly & Sea Dive Adventures, Project Expedition, Bluewater Travel, Island Expeditions Company Limited, Liveaboard Adventures, national Geographic Expeditions, Deep Blue Adventures, Caradonna Adventures, Advanced Diver Mexico, The Natural Travel Collection Ltd., PADI Travel, Hidden Depths Dive Tours, Scuba Travel, Dive The World, World Dive and Sail International, Entrada Travel Group, Quicksilver Group, Dive Adventures, and among others.

In 2021, World Dive and Sail International are going to organise the DRT (Diving, Resort, and Travel) show in Shanghai, the most effective B2B2C platform and the largest diving expo in Asia. The partners for the DRT Show Shanghai are PADI, UTD, SDI, DAN World, Ocean Seeds, TDI, TPB, and many others.

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