According to newly released data by Future Market Insights (FMI), the global mountain and ski resorts market is projected to experience robust growth, reaching a market size of USD 50.4 billion by 2033. The market, valued at USD 15.8 billion in 2023, is expected to expand at a compound annual growth rate (CAGR) of 12.3% from 2023 to 2033.
Key Growth Drivers
- Rising Health and Fitness Awareness: The increasing awareness of health and fitness among global populations is fueling the demand for mountain and ski resorts. As stress-related issues and lifestyle diseases like diabetes and heart disease become more prevalent, individuals are seeking outdoor activities like skiing, trekking, and mountain sports to improve their physical and mental health. The affordable pricing of these resorts further encourages travelers to experience nature and engage in adventure sports.
- Infrastructural Advancements and Safety Measures: Mountain and ski resorts have made significant strides in improving safety standards and enhancing the overall guest experience. Technological innovations, including automated energy controls, waste management systems, and eco-friendly practices such as solar energy usage, have become key features. Additionally, these resorts offer certified trainers for skiing, mountaineering, and ice climbing, while promoting environmental sustainability among their visitors.
- Expansion of Business Verticals: Many resorts are diversifying their offerings by introducing new sports and leisure activities. These include treasure hunts, horse riding, spa and yoga centers, and cultural events. Such expansions not only attract more tourists but also provide valuable employment opportunities for local communities, boosting economic growth in these regions.
Trends in Customer Preferences
- Tour Type: Mountain and ski resorts are popular among all types of travelers, from solo adventurers to families and groups, thanks to their versatile offerings.
- Age Group: The age groups of 15-25 years and 26-35 years are particularly inclined to visit mountain and ski resorts, with youth-driven trends like hiking, skiing, and snowboarding gaining popularity.
- Booking Channels: Online bookings are increasingly preferred, accounting for 56% of the market share in 2022. With easy access to deals and promotions through digital platforms, tourists are opting to book their trips in advance.
Regional Insights
- United States: The U.S. accounted for 5% of the global mountain and ski resort market share in 2022.
- Germany: Germany held a 3.9% share of the market in 2022.
- Japan: Japan contributed 4% to the global mountain and ski resort market in 2022.
- Australia: Australia represented 5.5% of the market share in 2022.
- India: India is expected to see significant growth in the mountain and ski resort sector, driven by improved infrastructure and government initiatives.
- China: The popularity of ski resorts in China has surged, fueled by the Winter Olympics and social media promotions.
Key Players
- Whistler Blackcomb
- The Khyber Himalayan Resort and Spa
- Hotel Highlands Park
- Solang Valley Resort
- The Vintage Gulmarg
- Himalayan Castle Resort
- Negi’s Hotel Mayflower
- Manuallaya Resort
- Fagu Ski Resort
- Tochal Ski Resort
- Chamonix
- Breckenridge
- Telluride Ski Resort
- Valle Nevado
- Arapahoe Basin Ski Resort
- Snowbird
Recent Developments
- In the year 2020, Vail Resorts and PepsiCo announced an expansion of their partnership to 18 vail resorts locations across North America, including Whistler Blackcomb, Mount Snow and Hunter Mountain. The goal of expansion aims to advance sustainability and pledge to achieve zero net operating footprint by 2030.
- With its headquarters in Utah in the United States, Black Diamond Equipment, Ltd. is a market leader in the outdoor recreation industry and is famous for inventing and manufacturing the best climbing, climbing, skiing, mountaineering, and trekking equipment available. The company’s business includes the manufacture of sports and athletic equipment.
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Key Segments
By Services Types:
- Skiing
- Trekking
- Rides
- Sledding
- Snowmobiling
- Others
By Booking Channel:
- Online Booking
- In Person Booking
By Tourist Type:
- Domestic
- International
By Tour Type:
- Independent Traveler
- Group Trip
- Family trip
By Consumer Orientation:
- Men
- Women
- Children
By Age Group:
- 15-25 Years
- 26-35 Years
- 36-45 Years
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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