## Sports and Music Tourism: A Booming Market for Businesses
The global landscape of travel is changing, and one of the most exciting trends is the explosive growth of sports and music tourism. A new report from Collinson International, a leading provider of airport experiences and loyalty solutions, sheds light on this dynamic market and the opportunities it presents for businesses across various sectors.
The report, titled “The Value of Sports and Music Tourism,” delves into the spending habits of sports and music event travelers, revealing a lucrative segment with a strong appetite for travel and premium experiences. The research highlights that Asia Pacific is a key region driving this growth, with sports fans emerging as the biggest spenders.
A Global Trend on the Rise
The global sports tourism market was valued at a staggering US$564.7 billion in 2023 and is projected to almost double by 2032, reaching US$1.33 trillion. The music tourism market is also expected to witness significant growth, with an estimated value of US$13.8 billion by 2032. This upward trajectory is fueled by several factors, including the increasing number of events, the internationalization of sports and music through streaming, and the growing desire for unique, experience-driven travel following the pandemic.
Collinson’s research reveals that a significant portion of Asia Pacific travelers, a whopping 80%, have traveled by plane to attend sports or music events. This trend is particularly strong among sports enthusiasts, with 57% spending over US$500 per trip – a clear indication of the high spending power of this segment.
Destination Appeal and Repeat Business
The report highlights that 82% of Asia Pacific sports and music fans are willing to travel to new cities or countries to attend events. This desire for exploration creates significant opportunities for destination marketing and economic growth for regions hosting these events. The research also reveals that 28% of these travelers have already returned to these destinations, and 31% are planning to return, showcasing the potential for sustainable tourism development.
Premium Travel Experiences: A Growing Demand
Event travelers are not only looking for unique experiences at the event itself; they are also seeking premium travel experiences throughout their journey. The report highlights that 52% of Asia Pacific sports and music fans take advantage of airport services like lounges, sleep pods, and spas. Lounges, in particular, are popular for their ability to provide a relaxing and convenient space for travelers to unwind before or after their flights. Food and drink options are also a major draw for event travelers, with over half citing them as a key reason for using lounges.
Engaging with Loyal Event Travelers
Businesses can capitalize on the growing trend of sports and music tourism by understanding the needs and preferences of event travelers and tailoring their offerings accordingly. Loyalty programs are a crucial tool for building customer relationships and capturing a share of this dynamic market. The report reveals that 65% of Asia Pacific event travelers participate in customer engagement and loyalty programs, with many opting for programs that offer travel benefits like points, discounts on flights, accommodation, and tickets.
Unlocking Growth Opportunities
The report by Collinson International underscores the significant opportunities for businesses across the travel, hospitality, and financial services sectors to engage with sports and music fans in Asia Pacific. By providing tailored travel experiences and rewards, businesses can attract and retain this valuable audience, leading to increased engagement, loyalty, and spending.
“Sports and music events ignite a passion for travel, drawing fans to every corner of the globe,” says Todd Handcock, Global Chief Commercial Officer and Asia Pacific President at Collinson International. “As the appetite for sports and music tourism grows, significant opportunities emerge for businesses across the travel sector and beyond.”
The report concludes by emphasizing the importance of businesses understanding the unique needs and desires of event travelers to unlock the potential of this dynamic market. By offering the travel benefits and premium experiences that fans crave, businesses can capitalize on the growing trend of sports and music event tourism and establish themselves as leaders in this exciting sector.