Sports Tourism Market by Product, Type, Category, and Geography - Forecast and Analysis 2021-2025

The sports tourism market share is expected to increase by USD 890.90 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 13%.

This sports tourism market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers sports tourism market segmentation by product (soccer tourism, cricket tourism, tennis tourism, and others), type (domestic sports tourism and international sports tourism), application (passive sports tourism and active sports tourism), and geography (Europe, APAC, North America, South America, and MEA). The sports tourism market report also offers information on several market vendors, including BAC Sports Ltd., DTB Sports Hospitality and Event Management Ltd., Great Atlantic Sports Travel, International Sports Management Inc., MATCH Hospitality AG, QuintEvents LLC, Sports Tours International Ltd., Sports Travel & Hospitality Group Ltd.,  Sportsnet Corporation Pty Ltd., and travelOsports among others.

What will the Sports Tourism Market Size be During the Forecast Period?

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Sports Tourism Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increasing number of sporting events is notably driving the sports tourism market growth, although factors such as the cancelation of sports events due to financial constraints may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the sports tourism industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Sports Tourism Market Driver

The global sports tourism market is experiencing growth due to the rise in the number of sporting events across the world. New tournaments in existing venues are being conducted to attract more spectators, and new venues are being established for the existing tournaments to expand the reach and popularity of sports. An increase in the number of sporting events will help in attracting more visitors to sporting destinations, leading to the growth of the sports tourism industry during the forecast period. 

Key Sports Tourism Market Trend

The development of VR technology is another factor supporting the sports tourism market share growth. VR refers to the creation of interactive and simulated environments using computers and software. These environments allow users to participate in virtual activities through simulations. The simulations allow interactions with other participants. The participants can experience life-like scenarios on a virtual plane.  The technology is in its nascent stages. However, the number of developments for imbibing VR technology in various activities is increasing. An increasing number of service providers are focusing on adopting VR technology to give an immersive viewing experience of sports tournaments to their customers. With enhanced customer experiences attainable through VR-based platforms, viewers could opt for watching sports events in their own regions. This could reduce the demand for tickets and the number of sports tourists traveling to spectate sporting events.

Key Sports Tourism Market Challenge

The cancelation of sports events due to financial constraints will be a major challenge for the sports tourism market during the forecast period. Sports tourism is dependent on the hosting of sports events that attract tourists from various regions. However, hosting sports events requires strong financial backing from investors. Investor support is required for organizing, managing, and marketing sports leagues. The various costs associated with it include marketing expenses, players and staff expenses, and infrastructure expenses. Over the years, these expenses have increased exponentially due to the focus on attaining a wider public reach and fan base. However, the lack of financial support for franchisee teams can lead to the cancelation of events, which can have a negative impact on the sports tourism market.

This sports tourism market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global sports tourism market as a part of the global hotels, restaurants, and leisure market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the sports tourism market during the forecast period.

Who are the Major Sports Tourism Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

• BAC Sports Ltd.
• DTB Sports Hospitality and Event Management Ltd.
• Great Atlantic Sports Travel
• International Sports Management Inc.
• MATCH Hospitality AG
• QuintEvents LLC
• Sports Tours International Ltd.
• Sports Travel & Hospitality Group Ltd.
•  Sportsnet Corporation Pty Ltd.
• travelOsports

This statistical study of the sports tourism market encompasses successful business strategies deployed by the key vendors. The sports tourism market is fragmented and the vendors are deploying growth strategies such as focusing on product innovations to compete in the market.

Product Insights and News

• BAC Sports Ltd. - The company offers packages for sports events.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The sports tourism market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Sports Tourism Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the sports tourism market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the hotels, restaurants, and leisure market includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Services
• Marketing and sales
• Support activities
• Innovation

The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.

Which are the Key Regions for Sports Tourism Market?

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57% of the market’s growth will originate from Europe during the forecast period. UK, Germany, and Spain are the key markets for sports tourism in Europe. Market growth in this region will be faster than the growth of the market in other regions.

The large number of sports events that are organized in the region will facilitate the sports tourism market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the emergence of COVID-19 led to a decline in the growth of the regional sports tourism market, primarily due to the delay or cancellation of major sports events and international travel restrictions imposed by the governments of various countries to contain the spread of the disease. The delays in regional leagues, cancelation of sports events, and traveling restrictions in various countries are expected to impede the growth of the market in focus in the region during the forecast period.

What are the Revenue-generating Product Segments in the Sports Tourism Market?

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The sports tourism market share growth by the soccer tourism segment will be significant during the forecast period. The viewership for soccer is the highest among other sports globally. The increasing number of soccer tournaments would provide more avenues for soccer tourists to participate and spectate sports. This would augment the growth of the market segment. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the sports tourism market size and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this Sports Tourism Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive sports tourism market growth during the next five years
• Precise estimation of the sports tourism market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the sports tourism industry across Europe, APAC, North America, South America, and MEA
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of sports tourism market vendors

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