Dive Resorts Market Trends: 2024 Forecast and 2023 Revenues & Profits
This 2024 dive industry market report is part of a series of eight scuba diving industry market reports from the annual State of the Dive Industry survey.
Considering the extraordinary amount of time this scuba market study requires (both from us and from dive industry professionals answering the survey), we have opted to conduct this study every 2 years instead of annually. Subscribe to be kept in the loop.
This post is part of our Dive Industry Compass series by the Business of Diving Institute and Darcy Kieran, author of:
In early 2024, the Business of Diving Institute conducted the second annual State Of The Industry (SOTI) survey of the dive industry in collaboration with InDEPTH Magazine. We examined the 2023 results for dive certifications, scuba diving equipment sales, and dive travel, comparing them to the prior year. We also surveyed expectations and forecasts for 2024.
We extend a special thank you to all of you who participated in this effort to help the dive industry with more readily available market data.
Find a complete list of 8 market reports from the State of the Dive Industry 2023 study here.
79% of respondents in the dive resort category were business owners or co-owners, while 21% were managers. They all worked full-time in the dive resort.
Survey respondents operated dive resorts in the following regions:
- 56% South Pacific, Indo-Pacific & Other Tropical Asia-Pacific Region
- 37% Mexico, Central America, Caribbean & Tropical Atlantic
- 7% Western Europe
It’s unfortunate that we didn’t get any participation from dive resorts in Egypt. Hopefully, we will next year – with your help!
You may consult the number of respondents per business category and geographic region here.
Participating in our surveys and inviting your colleagues to do so can help us provide you with more accurate and comprehensive dive industry market reports.
Please subscribe and invite your colleagues to participate in our ongoing dive industry market surveys.
Sales Revenues & Profitability of Dive Resorts
Dive resorts experienced a wide range of sales results.
- 38% of dive resorts reported a sales decline, while 41% experienced revenue growth in 2023.
Similarly, trends in profits also varied greatly between dive resorts.
- 38% of dive resorts reported a decline in profits, while 36% increased profits in 2023.
This variance between dive resorts was to be expected, as tourism trends differ significantly between geographic regions.
Once we get more dive resorts to participate in the annual State of the Dive Industry survey, we will be able to analyze dive resorts by geographic market.
The percentages in the graphs below indicate the number of survey respondents who reported or forecasted a decrease, flat, or increase in revenues or profits.
You may also be interested in:
We produced eight scuba diving industry market reports from the results of the State of The Industry (SOTI) survey of the dive industry.
The State of The Dive Industry annual market study is part of a series of scuba diving industry surveys by the Business of Diving Institute in collaboration with InDEPTH Magazine with support from DAN Europe, Shearwater, GUE, and most importantly, YOU!
Besides participating in the surveys, please let us know if you would like to add your name to the official list of “supporters who are supporting the industry!”
Have a look at more scuba diving market research, surveys, reports & statistics in Your Dive Industry Compass.
If the information in this post was valuable to you, would you consider buying me a coffee?
Either way, please help the dive industry by taking part in ongoing surveys. Results from our past scuba diving market studies are also available here.
Your Dive Industry Compass
Scuba Diving Market Research, Surveys, Reports & Statistics
Shifting Tides
Strategies for Today’s Scuba Divers
Living The Scuba Dream
Plan Your Scuba Instructor Career & Deep Dive the Plan
You may also be interested in The Immersion Zone (our podcast), Scubanomics (our newsletter for dive professionals), and our published books & reference guides.