Outdoor recreation refers to any recreational activity that takes place in an outdoor setting. These activities can be carried out for the enjoyment and challenge, for health and fitness reasons, to develop social and team building skills, and for the appreciation of nature and the outside world.
Parks and outdoor recreational activities have a considerable economic impact on various markets. Amusement and theme parks, for example, generate revenue into the millions, with companies such as Disney and Six Flags leading the way.
Merchandise, recreational vehicles (RV), equipment, food, and other consumables make up most of the remaining income within the industry. Participation rates, attendance, and individual preferences gathered via surveys provide data which helps to support existing and future businesses involved in these fields.
Outdoor recreational activities cover a wide field of interests. From an economic standpoint, amusement and theme parks are of most interest. On a global scale, Disney generates the highest revenue by far, followed by Universal Studios Theme Parks, and OCT Parks in China. Other companies such as SeaWorld Entertainments Group and Six Flags Entertainment Corporation also compare on a financial level.
Even though amusement and theme parks are economically more impactful, public parks and wildlife also provide opportunities for outdoor recreational activities. Depending on regional circumstances, winter sports, hunting, or camping are possibilities for people to spend time outdoors and spend money on their preferred hobby
Recreational vehicles (RV), fishing equipment, tents, sleeping bags and many more are outdoor products which have a significant impact on this market.
One of the results of the pandemic was a rise in interest in outdoor activities like camping and hiking. With many vacation and day-trip options being impacted by hospitality industry closures, consumers took to the great outdoors. This led to increased participation in outdoor activities among higher-income consumers, who may have previously holidayed abroad or participated in other recreational activities, like taking a trip to an amusement or theme park.
Thanks to its hugely successful amusement and theme parks, Disney is one of the most successful companies in the parks sector. Most public and wildlife parks are endorsed by governmental institutions, so other economic aspects of the industry come from equipment, apparel, and consumables. Nike is by far the leading company for outdoor apparel, with it succeeding mostly in the sports segment, but also in outdoor clothing.
The Parks & Outdoors industry covers markets that are directly connected to recreational activities in the great outdoors. As a result, it spans a few other industries including and travel and tourism, transportation, FMCG (fast moving consumer goods), and accommodation.
Included in this industry are different types of parks and outdoor areas, like amusement and theme parks, public parks, and national or state parks and the activities that one can participate in in these locations. These activities can include, hiking, fishing, camping, and much more. Consumers will also buy products such as equipment, clothing, and recreational vehicles (RV) to enhance their experience of parks and outdoor areas.