NEW
YORK, July 12, 2024 /PRNewswire/ -- The global
sports tourism market size is estimated to grow by USD 771.4 billion from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of 15.2%
during the forecast period. Increasing number of sporting events is
driving market growth, with a trend towards development of VR
technology. However, cancelation of sports events due to financial
constraints poses a challenge. Key market players include 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., Kintetsu Group Holdings Co. Ltd., 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., travelOsports, Veda
Sports Marketing Pvt. Ltd., and Victory Sports Tours.
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Type (Domestic sports
tourism and International sports tourism), Product (Soccer tourism,
Cricket tourism, Tennis tourism, and Others), Area (Passive sports
tourism and Active sports tourism), and Geography (Europe, APAC,
North America, South America, and Middle East and
Africa)
|
Region
Covered
|
Europe, APAC, North
America, South America, and Middle East and Africa
|
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., Kintetsu Group Holdings Co. Ltd., 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., travelOsports, Veda Sports Marketing
Pvt. Ltd., and Victory Sports Tours
|
Key Market Trends Fueling Growth
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Market Challenges
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Segment Overview
This sports tourism market report extensively covers market
segmentation by
- Type
- 1.1 Domestic sports tourism
- 1.2 International sports tourism
- Product
- 2.1 Soccer tourism
- 2.2 Cricket tourism
- 2.3 Tennis tourism
- 2.4 Others
- Area
- 3.1 Passive sports tourism
- 3.2 Active sports tourism
- Geography
- 4.1 Europe
- 4.2 APAC
- 4.3 North America
- 4.4 South America
- 4.5 Middle East and
Africa
1.1 Domestic sports tourism- The sports tourism market is
a thriving industry that attracts millions of fans and travelers
every year, seeking world-class sports, live entertainment, and
immersive experiences. According to historical data, sports
tourists have shown a significant increase in visitor numbers,
particularly in segments covered by domestic and international
sports events. However, pitfalls and challenges such as seasonal
fluctuations, infrastructure limitations, and financial challenges
pose challenges for event organizers aiming for profitability and
long-term sustainability. Infrastructure limitations include
arenas, training centers, and recreational facilities that may not
meet the demands of top-tier athletes and potential tourists.
Moreover, eco-friendly initiatives, sustainable practices, and
environmental awareness are becoming increasingly important for
overall sustainability, reducing carbon footprints, and minimizing
tourism practices' negative impact on the environment. Safari
tourism and other travel and outdoor activities offer captivating
frontiers for sports tourists, adding to the adrenaline-fueled
experiences. Regional tourism revenues and economic growth are
significant benefits of successful sports tourism events, making
them essential contributors to host cities' development. Despite
these advantages, it is crucial to address the financial challenges
and ensure predictable conditions for the success and profitability
of sports tourism events.
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analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Research Analysis
Sports tourism is a thriving market that brings together the
excitement of world-class events and the allure of premier travel
destinations. Motorsport enthusiasts rev their engines for Formula
1 races and NASCAR events, while cricket fans flock to witness the
passion of the game in international tournaments. Tennis
aficionados serve up their love for the sport at the US Open and
Wimbledon, and soccer fans cheer on their teams during the FIFA
World Cup and UEFA Champions League. Strategic partnerships between
sports industries and tourism boards have led to the successful
event hosting of marathons, triathlons, Olympics, and more. These
initiatives enhance destination appeal and offer unique visitor
experiences, contributing to sustained growth in sports tourism.
Basketball, baseball, hockey, and other sports also draw fans and
travelers from around the world, making sports events a significant
driver of leisure travel.
Market Research Overview
The sports tourism market encompasses various segments,
including Motorsport, Cricket, Tennis, FIFA World Cup, UEFA
Champions League, Formula 1, NASCAR, Marathons, Triathlons,
Adventure races, and more. Travel agencies, tour operators,
hospitality chains, event management companies, and Olympic Games
are key players. Strategic partnerships and event hosting in
premier travel destinations offer sustained growth through leisure
travel and sports events. Fans and travelers seek immersive
experiences with world-class sports and live entertainment. Value
projection and historical data reveal potential visitor numbers,
with segments like safari tourism showcasing a captivating
frontier. However, pitfalls and challenges include seasonal
fluctuations, infrastructure limitations, and financial challenges
for event organizers. Sustainable practices, eco-friendly
initiatives, and environmental awareness are essential for
long-term profitability and overall sustainability. Infrastructure
development, including arenas, training centers, and recreational
facilities, is crucial to accommodate sports tourists. Regional
tourism revenues and economic growth are significant benefits,
making sports tourism a vital component of the global tourism
industry.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
-
- Domestic Sports Tourism
- International Sports Tourism
- Product
-
- Soccer Tourism
- Cricket Tourism
- Tennis Tourism
- Others
- Area
-
- Passive Sports Tourism
- Active Sports Tourism
- Geography
-
- Europe
- APAC
- North America
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio