Mountain and Ski Resorts Market Soars to a Projected US$ 50.4 Billion, Fueled by a Thrilling 12.3% CAGR by 2033 | FMI

The mountain and ski resorts market is expected to be valued at US$ 15.8 billion in 2023 and is projected to reach US$ 50.4 billion by 2033 and is anticipated to grow at a compound annual growth rate (CAGR) of 12.3% from 2023 to 2033, according to recently released research from Future Market Insights (FMI).

During the forecast period, the mountain and ski resorts market is anticipated to be driven by increased programs to increase skiing participation and the number of individuals who choose to ski for enjoyment.

The number of ski resorts is expected to increase, and the government is expected to increase its efforts to promote skiing in the years to come. Also, technical improvements in this sector and the creation of new, creative goods to meet customers’ shifting requirements are likely to boost the market.

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Today’s normal hurried lifestyles and busy schedules frequently leave less time to spend meaningful family time together. Many families nowadays find it difficult to spend quiet time together. Thus, visitors are looking to ski resorts as a nice getaway. This provides new opportunities for the key players to increase their consumer base and add up to the revenue streams.

Key Takeaways

• By 2033, the mountain and ski resorts market in the United Kingdom is likely to expand, with a CAGR of 4.8%.
• In 2022, the United States developed the mountain and ski resorts business with a share of 5%.
• The mountain and ski resorts market grew considerably to US$ 15 billion in 2022.
• The mountain and ski resorts sector expanded at a CAGR of 10.7% from 2018 to 2022.
• By 2033, China’s mountain and ski resorts market is projected to develop with a CAGR of 5.9%.
• By 2033, India’s mountain and ski resort industry is projected to expand with a CAGR of 4.5%.
• Japan’s mountain and ski resorts industry grew significantly, with a 4% share in 2022.
• Australia’s mountain and ski resorts sector expanded with a share of 5.5% in 2023.
• Germany’s mountain and ski resorts business grew, with a share of 3.9% in 2023.
• In 2022, the skiing segment dominated the market, with a share of 20%, based on the service type.
• In 2022, the online booking segment dominated the market, with a share of 56%, based on the booking channel.

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Competitors Winning Strategies

Mountain and ski resorts are adopting effective marketing strategies to draw guests to their different resorts. Several hotels are combining their efforts to provide package discounts to make visiting several resorts while on vacation simple. Key players are able to reach more prospective customers and make the investment profitable by using innovative holiday packages, clever marketing, and a brand-new launch of your ski resort-focused firm.

Recent Development:

• A renowned maker of specialized sailing, ski, and high-end workwear, Helly Hansen AS is situated in Norway. The company’s ski uniforms are trusted by more than 60,000 professionals and are used by Olympians, national teams, more than 200 ski resorts, and mountain guide businesses worldwide.
• 2020 saw the extension of the relationship between Vail Resorts and PepsiCo to 18 Vail Resorts properties across North America, including Mount Snow, Whistler Blackcomb, and Hunter Mountain.

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
• Jackson Whole Mountain resort
• Hakuba Ski Resort