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The Global Sports Tourism Market size is estimated to grow by USD 559.75 billion accelerating at a CAGR of 12.88% between 2023 and 2027. Sports tourism has become a significant segment, attracting people from around the globe. With industry specialists estimating it as a multi-billion-dollar industry, major events like hockey tournaments and kabaddi tournaments draw massive crowds. Major sporting events like the Olympics and FIFA World Cup attract millions of tourists from around the world, boosting local economies. It is a rapidly growing sector in the global tourism industry. This market research and analysis report includes in-depth information about the key market drivers, trends, and challenges during the forecasted period.
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Key Driver
Rising focus on seating capacity expansion is a key driver boosting the market growth. This surge has led to a greater demand for larger seating capacities at these venues globally. Increased seating capacity translates to higher ticket revenue, as more spectators can attend these events, contributing to the expansion of the market. Consequently, sports clubs and events are prioritizing venue expansion to cater to the tourists. These initiatives to enhance seating capacity are set to attract more tourists, thereby propelling the global market in the foreseeable future.
Key Trends
The increasing number of fan zones is a major market trend influencing the market. The stakeholders of the industry are focusing on attaining a wider audience to showcase tournaments and expand their reach. This is benefiting the industry. However, the official arenas and stadiums for sporting events have a limited spectator handling capacity and the number of tickets available for the event. This restricts the number of tourists that can witness sports events live in a stadium. To counter the issue, an increasing number of tournaments are focusing on establishing official fan zones. These fan areas can be established in the same region or city hosting the sports event, or in various other cities and regions different from the host.
The fan arenas broadcast the events on large screens. These arenas also carry out numerous supporting and engaging activities. With an increase in the number of events, the number of fan zones is also expected to increase. Various sporting organizations such as UEFA and BCCI have established their official fan zones across different regions.
Key Challenges
The growing popularity of other tourism industries is a major market challenge hindering the growth of the market. The tourism industry encompasses various forms of travel, including cultural, medical, and adventure tourism. Cultural tourism, involving the exploration of a region's art, architecture, religion, and lifestyle, dominates the global tourism sector and is on the rise. This trend will impact the growth of the market. However, the market faces challenges from the growing popularity of health and adventure tourism. Health tourism involves seeking medical treatment and wellness abroad, driven by travelers from countries like Bangladesh, Oman, Nigeria, and Uzbekistan. Adventure sports are also gaining ground, with countries like Australia, New Zealand, and Spain, attracting enthusiasts. The increasing demand for alternative tourism forms will hinder the market's growth.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
The market share growth by the domestic sports tourism segment will be significant during the forecast period. It is the most popular type segment in the market. Tourists travel to various such events organized in their respective countries as participants or spectators. It also includes the expenditure by domestic tourists on hospitality and merchandise products related to that particular sporting event.
Market Segmentation By Type
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The domestic segment showed a gradual increase in market share from USD 458.90 billion in 2017. Many domestic leagues are held across the globe. These leagues have a higher proportion of domestic tourists due to the easy availability of intra-region transportation, the convenience of using a uniform regional or national currency, and familiarity with the culture and languages. An increasing number of teams are aiding the transportation of their fans across different venues. For instance, in Qatar, the government of Doha provides several transport options to fans when they arrive in the country, which includes free shuttle buses, the Doha Metro, taxis and cab services, and dedicated bus and taxi lanes for fans. The above factors will drive the growth of the market during the forecast period.
Europe is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Market Segmentation By Region
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Europe stands out as the primary hub, given the multitude of sports events hosted within the region. Sporting teams and events enjoy substantial popularity and active participation, both from athletes and spectators. Various European governments, including the UK, actively promote a healthy lifestyle and engagement in sports. The UK government, for instance, fosters a sports-centric culture among school students through partnerships with major sporting entities like the PREMIER LEAGUE, the Rugby Football Union, and England Hockey. These collaborations offer students avenues for competitive participation, leading to a widespread and deeply ingrained sporting culture among the general public.
The market is a dynamic subset of the broader tourism industry, focusing on the intersection of travel and sporting events, reflecting market growth analysis. Catering to the adventurous traveler, it encompasses the adventure tourism market and sports travel market, offering unique experiences and destinations for enthusiasts, and contributing to market research and growth. Sporting events become key attractions, driving the growth of sports destination markets and attracting visitors from around the globe, emphasizing market growth and forecasting. From marathons to championship games, a wide array of activities and packages cater to diverse interests, highlighting Market forecasting and the growth of Opportunities. These agencies curate unforgettable sports tourism experiences, tapping into the rising demand for active travel and addressing market Challenges.
Despite challenges, including logistical complexities, the sporting events tourism market continues to expand, fueled by its significant economic impact and opportunities for growth, driven by Sports Tourism Trends and the impact of revenue.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Sports Tourism Market Scope |
|
Report Coverage |
Details |
Page number |
173 |
Base year |
2022 |
Historic period |
2018 - 2022 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 12.88% |
Market growth 2023-2027 |
USD 559.75 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
11.58 |
Regional analysis |
Europe, APAC, North America, South America, and Middle East and Africa |
Performing market contribution |
Europe at 40% |
Key countries |
US, Japan, Germany, UK, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ATPI Ltd., BAC Sports Ltd., DTB Sports Management Ltd., Fanatic Sports Pvt. Ltd., Gala Management Services Ltd., Global Sports Travel and Tours Pty Ltd., International Sports Management Inc., ITC Travel Group, JTB India Pvt. Ltd., KNT CT Holdings, Match Hospitality AG, QuintEvents LLC, Sports Tours International Ltd., Sports Travel and Hospitality Group Ltd., Sportsnet Corp. Pty Ltd., The Hospitality Group, Thomas Cook India Ltd., and Victory Sports Tours |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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