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The disaster surrounding the Titan submarine made one thing clear above all: Some people are willing not only to pay a lot of money for a private travel experience, but also to take big risks.
The journey to the wreckage of the Titanic paid off at the cost of the lives of five people. This year alone, 17 people have died trying to climb Mount Everest. By the way, the exit permit costs more than 10,000 francs.
And despite the unpredictability of space travel, the next big adventure is in the starting blocks: Today, Thursday, space tourism company Virgin Galactic completed its first commercial flight into space. Two Italian Air Force members and an Italian researcher are on board for the 90-minute flight. You will reach an altitude of 80 kilometers and experience several minutes of weightlessness. The risk is not small, even if Virgin founder Richard Branson himself took such a flight to calm concerns.
Everyone wants excitement
Basically, everyone – not just travelers – wants some adventure. A study by Grand View Research revealed that the global market for adventure travel is $316 billion in 2022, with annual growth expected through 2030. However, businesses with extreme travel destinations are growing particularly strongly.
It should be said here that 65 percent of all sales in the adventure travel space can be attributed to “soft adventures”. This includes activities such as canoeing, horseback riding or balloon flights. “Challenging adventures”, including slightly more risky activities such as skydiving, whitewater kayaking, ferrata hikes or high-mountain skiing, account for about 30 percent. This episode also includes exotic adventures such as “diving between the continental plates” or visiting the magma chambers of volcanoes, both in Iceland.
“Extreme Adventures” makes up the rest. Here danger is almost part of the program. We’re mostly talking about jungle or desert adventures where you’re alone and reach your limits. Bungee jumping over active volcanoes can be booked in Chile for just $15,000. Or physically demanding tours to the world’s highest mountains, the most remote forests and deserts, the outer limits of the planet and the deepest parts of the oceans. More extreme, more expensive and also more dangerous. Even though it often takes months of preparation and training for travelers to experience their “ultimate adventure.”
an insurance business
As a rule, it should not be life-threatening. The super-rich are no more suicidal than others, they can only explore more extreme boundaries. That’s why extreme adventures are now an insurance business.
US company Global Rescue provides medical, security, evacuation and travel risk management services worldwide. CEO Dan Richards told The Wall Street Journal that the two fastest growing segments are adventure and luxury travel. The risks taken while traveling today are significantly greater than in the past. As a result, the number of adventure travel insurance policies sold is increasing. Only: Life threatening is not prohibited.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
