The domestic tourist will be even more important to the tourism industry over the next few years. Domestic tourism is already responsible for 75% of tourism spend in OECD countries. Over the next six years, it is forecast that domestic tourism worldwide will grow at a compound average growth rate of 13.4%. The rate for tourism as a whole is projected at 5.8%.
While the desire to travel is not decreasing, geopolitical uncertainties and conflicts, high inflation and travel costs, and government encouragement to go local are causing many to stay closer to home. China, which prior to the Covid pandemic was a critical source of tourists for many countries, is leading the charge in this trend. It is set to overtake the US as the world’s largest domestic tourist market by 2023.
In this shift to more proximate destinations, city breaks are increasingly sought after, with travellers wanting a variety of experiences and events to be on offer in the city to cater to all desires. And with adventure tourism being the fastest-growing segment, it is too often underrepresented in this mix. But it doesn’t have to be.
The AJ Hackett Bungy New Zealand Group, of which we are part, has created and operates a number of highly successful thrill experiences specific to urban locations and infrastructure. From Tower Skyjumps and Skywalks to Bridge Climbs and Bungy, we can advise you on how to capture this often untapped but potentially extremely profitable domestic tourist opportunity. For the consultancy you need, contact Bungy New Zealand Ventures.
