Nowadays, wildlife and other adventure tourism are quickly gaining appeal in various regions of the world. Governments of developing and undeveloped nations are specifically seeking to foster a camping atmosphere as it would ultimately benefit their tourism industries. Lack of suitable lodging or insufficient lodging can be a concern for the tourism sectors of many of these nations. These factors are probably going to contribute to the worldwide camping and caravanning market’s expansion.
Caravanning has a variety of benefits over regular vacationing, that is making it more and more popular. Budget-wise, travelling by caravan is typically more affordable than taking a standard holiday. Additionally, travelling by caravan is seen to be practical in areas with a lot of available parks. In addition, compared to typical vacationing, it gives passengers a lot of freedom and puts them in greater control of their trip.
One of the key reasons why more people are choosing to caravan over take a typical holiday is the cost-effectiveness and convenience of caravanning. The COVID-19 epidemic caused significant financial losses for the travel and tourism sector, and its effects on the market were no different. Travel was restricted and people were forced to stay inside their houses due to lockdowns and the severe COVID-19 regulations. Due to the cancellation of the flights, there were significantly fewer foreign visitors, which reduced the demand for caravans.
Post-Covid Scenario
After suffering a significant setback in 2020, the demand for caravanning has been gradually increasing once more. In 2023 it is anticipated to surpass its pre-pandemic market value. Travel restrictions have been loosened and the majority of individuals have received their vaccinations worldwide. People are now less reluctant to travel and are making a lot of international travels. In the first quarter of 2022 (Q1 2022), as compared to the first quarter of 2021, the number of foreign arrivals globally than tripled, according to the UN World Tourism Organization. According to the data, there were around 41 million foreign arrivals in Q1 2021, and that number increased to 117 million in Q2 2022.
The size of the world’s caravanning market, estimated at USD 21.2 billion in 2021, is expected to rise at a CAGR of 13.6% from 2022 to 2030. The North American market for caravans was estimated to be worth USD 8,582.3 million in 2021. It is anticipated to grow at a CAGR of 17.7% during the forecast period. One of the key causes fueling North America’s development is the rising number of young people who are becoming interested in caravanning. The most common form of caravan in the area is the towable model. The number of towable RVs transported in the United States climbed from 327 thousand in 2015 to 544 thousand in 2021. This represents an increase of more than 66% in annual shipments over the same period.https://www.grandviewresearch.com/industry-analysis/caravanning-market-report
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