‘Experiences’ now a USD 300 billion sector: Quinby

Arival, launched its first-ever UK event in Edinburgh with a focus on the dynamic tours, activities, and attractions sector.  Douglas Quinby, CEO of Arival, welcomed attendees and highlighted the growing importance of experiences in the broader travel landscape.  Citing findings from Arival’s recent Global Operator Landscape Report, he revealed that the experiences sector is now worth close to $300 billion, and is the fastest-growing segment of travel.

Quinby emphasized the diversity and creativity within the sector, showcasing a range of unique offerings, from in-depth walking tours and iconic attractions to combat archery and immersive theatrical experiences.  He underscored the importance of experiences as the “why” of travel, stating, “People do not get on an airplane for the sake of getting on an airplane…they do that to come to you, to do the experiences that you offer or that you sell.”

He then delved into key industry insights from Arival’s research, drawing heavily from the Global Operator Landscape Report.  Key insights included:

• Full revenue recovery: The global experiences sector has fully recovered to pre-pandemic levels in terms of revenue
• Growth outpacing the broader travel industry: Experiences are the third-largest sector in travel and are growing faster than other segments
• Shifting traveler preferences: Travelers are taking fewer but more impactful trips, with increased participation in tours and activities
• Rise of immersive experiences: Active adventure, special interest tours, food tours, and wellness experiences are among the fastest-growing categories
• The affluent traveler: Affluent travelers are driving significant growth in the sector, accounting for a disproportionate share of spending
• Evolving search behavior: Younger travelers are increasingly relying on social, mobile, visual, and video platforms for travel inspiration and discovery
• The importance of OTAs: Online travel agencies are a crucial sales channel for experience providers, with significant growth observed in recent years