NEW YORK, Jan. 11, 2022 /PRNewswire/ --
Sports Tourism Market Facts at a Glance-
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According to the recent market study by Technavio, the Sports Tourism Market Size is expected to increase by USD 890.90 billion from 2020 to 2025, progressing at a CAGR of 13% during the forecast period. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.
Europe will register the highest growth rate, occupying 57% of the global market share. The UK, Germany, and Spain are the key markets for sports tourism in Europe. The market growth in this region will be faster than the growth of the market in other regions.
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Vendor Insights-
The sports tourism market is fragmented due to the presence of several well-established players that offer sports tourism activities across the world. Vendors in the market are continuously working on developing innovative and customized solutions for customers. Vendors are also investing in planning, designing, developing, acquiring new players, and expanding their existing facilities.
BAC Sports Ltd.: The company is a pure-play sports travel and hospitality company and provides packages for individuals, corporates, concierge, and incentive agencies, as well as arranges travel and logistics for the England Football Media.
DTB Sports Hospitality and Event Management Ltd.: The company offers a wide range of client entertaining solutions including hospitality, ticket options, and bespoke event management. In various fields of sports, music and arts, various special events, bespoke events, etc.
Great Atlantic Sports Travel: The company is a pure-play sports tourism vendor and offers sports travel packages and tickets to all sporting events including all Professional Golf Association (PGA) events such as Masters Badges and Masters Packages.
International Sports Management Inc.: The company is a global event sports marketing and management company, and offers customized premium sports hospitality packages, event sponsorship sales, and client consulting solutions and services.
QuintEvents LLC: The company is a pure-play vendor providing various services such as event tickets, accommodation, premium hospitality, transportation, etc., associated with sports tourism.
Find additional highlights on the vendors and their product offerings. Download Free Sample Report
Regional Market Outlook
The sports tourism market growth in Europe will be significant during the forecast period. The increasing number of spectators' footfalls for several sporting events is driving the growth of the sports tourism market in Europe. In addition, the increasing disposable incomes of households are supporting the growth of the regional market.
Download our FREE sample report for more key highlights on the regional market share of most of the above-mentioned countries.
Latest Drivers & Trends Driving the Market-
The number of national and international sports tournaments and events is increasing significantly across the world. This can be attributed to the increasing number of spectators and growing reach and fanbase for sporting events. For instance, in August 2018, the Afghanistan Cricket Board (ACB) announced the launch of the Afghanistan Premier League (APL), a T20 format cricket league. The first edition of the league featured five teams and was hosted in the UAE in October 2018. Similarly, in June 2018, Cricket South Africa announced its plans of launching a new T20 league in the country. Many such sports tournaments and events are expected to drive the growth of the market during the forecast period.
Many service providers operating in the sports tourism industry are focusing on adopting VR technology to offer an immersive experience to their customers. The technology will enable customers to experience sports events and life-like scenarios in their own regions. This trend is expected to have a positive impact on the growth of the market.
Find additional information about various other market Drivers & Trends mentioned in our FREE sample report.
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Sports Tourism Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 13% |
Market growth 2021-2025 |
USD 890.90 billion |
Market structure |
Fragmented |
YoY growth (%) |
6.19 |
Regional analysis |
Europe, APAC, North America, South America, and MEA |
Performing market contribution |
Europe at 57% |
Key consumer countries |
US, UK, Germany, Australia, India, and Spain |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
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 |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the 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. |
About Us
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 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.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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