Camping - Sri Lanka

Sri Lanka

Highlights

Sri Lanka is expected to witness a rise in the Camping market in the coming years.
By 2024, the projected revenue in this market is estimated to reach US$3.08m.
The market is expected to show an impressive annual growth rate (CAGR 2024-2029) of 15.66%, resulting in a projected market volume of US$6.38m by 2029.
In terms of users, the Camping market is expected to have 41.56k users users by 2029, with a user penetration rate of 0.1% in 2024, which is expected to grow to 0.2% by 2029.
Furthermore, the average revenue per user (ARPU) is expected to amount to US$114.20.
It is projected that by 2029, 57% of the total revenue in the Camping market will be generated through online sales.
Interestingly, United States is expected to generate the highest revenue in the Camping market worldwide, with a projected revenue of US$26bn in 2024.
Camping in Sri Lanka offers a unique opportunity to explore the island's diverse wildlife, stunning landscapes, and ancient ruins.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Camping market in Sri Lanka is experiencing a surge in popularity among both locals and tourists, driven by a growing interest in outdoor activities and eco-tourism.

Customer preferences: Customers in Sri Lanka are increasingly seeking unique and immersive experiences, leading to a rise in demand for camping adventures. Many individuals are looking to disconnect from their busy lives and connect with nature, making camping an attractive option. Additionally, the younger demographic is showing a preference for budget-friendly travel options, further boosting the appeal of camping.

Trends in the market: One notable trend in the Sri Lankan camping market is the emergence of glamping, a luxurious form of camping that offers high-end amenities and accommodations. This trend caters to customers looking for a more comfortable outdoor experience without compromising on luxury. Additionally, there is a growing interest in adventure camping, where travelers can engage in activities such as hiking, wildlife spotting, and stargazing.

Local special circumstances: Sri Lanka's diverse landscape, which includes lush forests, picturesque mountains, and stunning beaches, provides the perfect backdrop for camping enthusiasts. The country's national parks and nature reserves offer unique camping opportunities, allowing visitors to experience the local wildlife up close. Moreover, the government's focus on promoting sustainable tourism aligns with the principles of camping, making it a preferred choice for eco-conscious travelers.

Underlying macroeconomic factors: The growth of the camping market in Sri Lanka can also be attributed to the increasing disposable income of the population. As more individuals have the financial means to travel and explore new experiences, camping becomes a desirable option for budget-conscious travelers. Furthermore, the government's efforts to improve infrastructure and accessibility to remote camping sites are making it easier for both domestic and international tourists to participate in camping activities.

Data coverage:

Data refers to enterprises (B2C). Figures are based on camping nights, prices, average length of stay, and camping frequencies.

Modeling approach:

We use industry associations, UNWTO data, the Statista Consumer Insights survey, and pricing data of websites to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as tourism GDP, share of internet users, and demographic data.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market. For the camping market, Holt-Winters forecast, ARIMA, and Bayesian Ridge regression were used. The main drivers are the tourism GDP per capita and the share of internet users.

Additional notes: :

Data is modeled using current exchange rates. The market is updated twice per year in case market dynamics change.