The diving tourism market size has rapidly expanded in recent years, increasing from $3.67 billion in 2023 to $4.06 billion in 2024, with a CAGR of 10.8%. This growth can be attributed to rising disposable incomes, increased interest in adventure tourism, greater awareness of marine conservation, the establishment of dive training programs, and improvements in travel infrastructure. The market is expected to see further rapid growth, projected to reach $6.19 billion in 2028, at a CAGR of 11.1%. Factors contributing to this growth include the expansion of eco-friendly diving practices, the rise of virtual reality dive experiences, niche underwater adventure tourism, the influence of marine conservation policies, and enhanced global connectivity facilitating travel. Significant trends in the forecast period will include increased dive tourism in emerging markets, greater demand for remote and unexplored dive sites, the expansion of underwater cultural heritage tourism, a surge in sustainable diving initiatives, and the influence of social media in promoting unique dive destinations.
Major Driver In The Diving Tourism Market
The rising popularity of water sports activities is projected to drive the diving tourism market. Water sports include recreational and competitive activities like surfing, boating, kayaking, and water skiing, which are gaining popularity due to trends in adventure tourism, increased access to aquatic destinations, and a focus on fitness and wellness. Diving tourism, in particular, offers underwater experiences that attract adventure enthusiasts while promoting marine conservation and sustainability. According to a report by New York State Parks in October 2021, the total number of registered recreational boats in New York increased by 6,051 to reach 439,508, with 431,229 registered specifically for recreational use. The diving tourism market was valued at $2.02 billion in 2023 and is expected to increase to $2.28 billion in 2024, with projections reaching $3.36 billion by 2028, fueled by the growing interest in water sports activities.
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Diving Tourism Market Competitive Landscape
Major companies operating in the diving tourism market are PADI Travel Ltd, Aggressor Adventures LLC, Emperor Divers, Equator Diving, Worldwide Dive and Sail International Ltd, Pro Dive International, PT. AquaMarine Diving - Bali, Blue O Two Limited, Sea Bees Diving, Regaldive, Divebooker.com, Scuba Junkie, Caradonna Dive Adventures Inc., Aquatic Adventures Inc., Bluewater Travel Inc., Deep Blue Adventures Inc., Dive Butler International Limited, LiveAboard.com, Undersea Hunter Group, Dive The World International Co. Ltd., Explorer Ventures Liveaboard Fleet, Liveaboard Adventures, Nautilus Liveaboards, Scuba Travel, Liquid Diving Adventures
Key Diving Tourism Market Trend
Major companies in the diving tourism market are concentrating on strategic investments and brand expansion to attract more tourists, promote sustainable practices, and ensure the long-term health and appeal of diving tourism destinations. These strategic initiatives aim to offer exceptional underwater experiences while fostering sustainability and marine conservation. For instance, in February 2023, Red Sea Global (RSG), a Saudi Arabia-based real estate development company, launched WAMA and Galaxea, two new brands dedicated to providing outstanding guest experiences at RSG destinations. The WAMA brand features water sports activities such as stand-up paddleboarding and sailing, utilizing the region's natural beauty. The Galaxea brand, named after a local coral species, offers diving experiences that highlight the region's rich marine biodiversity, including endangered species and ancient coral formations. Both brands emphasize sustainable tourism practices, with Galaxea collaborating with the Saudi Water Sports and Diving Federation and PADI International to maintain high standards in diving facilities.
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Global Diving Tourism Market Segmentation
The diving tourism market covered in this report is segmented –
1) By Type: Deep Diving, Drift Diving, Wreck Diving, Free Diving
2) By Tourist Type: Domestic, International
3) By Age Group: 10 To 20, 20 To 30, 30 To 40, 40 And above
4) By Application: Professional Diver, Recreational Diver, New Diver
5) By End User: Solo, Friend, Couple, Family
By Geography:The regions covered in the diving tourism market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Europe was the largest region in the diving tourism market in 2023.
The Diving Tourism Global Market Report 2024 furnishes information about the global diving tourism market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
