Sri Lanka’s hiking and trekking tourism market is expected to be over $ 1 billion by 2034 with the demand for hiking and trekking tourism in the island nation expected to increase at a Compound Annual Growth Rate (CAGR) of 7.2%, a US-based research firm said.
According to research done on the hiking and trekking tourism market of Sri Lanka by the US-based research firm, Future Market Insights (FMI), the revenue from hiking and trekking tourism in Sri Lanka is expected to grow from $ 834.7 million in 2024 to $ 1,673 million by 2034.
It is said that the demand for the hiking and trekking tourism sector in Sri Lanka is experiencing notable growth, “offering great experiences to visitors”. The nation’s varied landscape, featuring tall mountains, sacred sites, dense jungles, and tea plantations provides a unique backdrop for outdoor activities.
“Significant investments by the Government (of Sri Lanka) in developing new infrastructure and routes aim to foster the expansion of the hiking and trekking industry. Consequently, hikers and trekkers now have more accommodation options and tour organizations providing guided walks and excursions,” FMI said.
It also forecasts that demand for hiking and trekking tourism in Sri Lanka is projected to rise at a CAGR of 2% through 2034, while the 26-35 age group segment is projected to grow at a CAGR of 5% from 2024 to 2034.
“Based on tour type, the tour guide segment is poised to exhibit a CAGR of 6.9% through 2034,” it added.
The report noted that the topography of Sri Lanka offers a varied terrain, from coastal trails to misty mountain peaks. The Knuckles mountain range and Ella rock are gaining popularity, providing diverse experiences for trekkers. This variety caters to different skill levels, attracting both novice hikers and seasoned trekkers seeking a new challenge.
“Beyond natural beauty, Sri Lanka’s hiking trails seamlessly integrate cultural experiences. Treks often lead to ancient temples, historical sites, and traditional villages. This cultural infusion enhances the overall tourism experience, making it a holistic journey that combines adventure with cultural exploration.” FMI said in its report.
