A new study by the Adventure Travel Trade Association (ATTA) in conjunction with George Washington University describes the size and characteristics of the adventure tourism market, a market that has grown at a 65 percent annual rate since 2009. The study focused on the three biggest markets for adventure tourism: Europe, North America and South America.

It estimates the value of that market, not counting airfare, to be $263 billion per year and another $82 billion for the gear purchased from retailers. Spending by adventure travelers globally has grown from $593 per trip in 2009 to $947 in 2012.

The ATTA defines adventure travel as any journey that includes two of the three following elements: connection with nature, cultural interaction and a physical activity. In 2012, more than one billion travelers arrived in foreign destinations according to the UNWTO. Almost 70 of those departures came from Europe, North America and South America. The driving force behind the stunning growth rates in adventure travel comes from the increase in European and South American travelers who define themselves as adventure travelers.

Several other important market profile details came out of the study. Last year, some 42 percent of travelers from these three regions reported an adventure activity as the main activity of their last trip. The average length of a soft adventure trip grew to 10 days in 2012 from eight days in 2009. Almost 54 percent of travelers are planning an adventure component or activity on their next trip, compared to the 42 percent of travelers currently participating in adventure activities.

Seventy-three percent of self-defined adventure travelers plan to add an adventure activity to their next trip. Only 22 percent of adventure travelers plan on doing the same adventure activity as their last trip. About 45 percent of adventure travelers plan on using a tour operator on their next trip, compared to only 31 percent of non-adventure travelers. A full 78 percent of adventure travelers use Facebook.