What Is The Definition Of The Global Sports Tourism Market?
Sports tourism involves traveling to participate in or watch sporting events and activities. It encompasses various activities such as attending major sports events, engaging in recreational sports, and visiting destinations known for their sporting facilities. This form of tourism not only boosts local economies but also promotes cultural exchange and sports development.
Sports Tourism Global Market Report 2024 provides data on the global sports tourism market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The sports tourism market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Market Size And Growth Rate Of The Global Sports Tourism Market Projected?
The sports tourism market has grown significantly, expanding from $524.76 billion in 2023 to $583.14 billion in 2024, reflecting an 11.1% CAGR. Factors like improved transportation infrastructure, the rise of sports media, and increasing globalization have contributed to this growth. The market is expected to reach $893.50 billion by 2028, with an 11.3% CAGR, driven by growing investments, higher demand for fan zones, and technology adoption. Major trends include AI integration in wearable devices, digital transformation, and the use of AR and VR in sports.
What Are The Primary Growth Drivers In The Sports Tourism Market?
The increasing number of young players in sports is expected to drive the growth of the sports tourism market. More young people are participating in sports due to increased awareness of the health benefits and accessible sports programs. This rise in youth participation is boosting demand for youth sports events and tournaments, contributing to the growth of sports tourism. According to the Sports and Fitness Industry Association, team sports participation in the US grew to 70.8 million in 2022, with higher participation from younger age groups, further driving sports tourism.
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What Is The Segmentation Of The Global Sports Tourism Market?
The sports tourism market covered in this report is segmented –
1) By Tourism: Active, Passive, Nostalgia
2) By Type: Soccer And Football, Cricket, Basketball, Tennis, Hockey, Other Types
3) By Sports Activity: Adventure Sports Tourism, Individual Sports Tourism, Team Sports Tourism
4) By Booking Channel: Online Booking Platform, Direct Bookings, Travel Agencies, Social Media Platforms, Other Booking Channels
What Emerging Trends Are Shaping The Sports Tourism Market Landscape?
In the sports tourism market, companies are using dynamic real-time index scoring to improve event management and decision-making. Tempest launched the Sports Tourism Index 2.0 in June 2024, enhancing capabilities for destination marketing organizations by providing predictive event search, real-time scoring, and detailed management tools.
What Is The Fastest Growing Region In The Sports Tourism Market?
Europe was the largest region in the sports tourism market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sports tourism market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
