The global sports tourism market was valued at approximately $323.4 billion in 2020. This sector is experiencing a surge in popularity, with forecasts suggesting a significant growth to reach $1.8 trillion by 2030. This translates to a compounded annual growth rate (CAGR) of 16.1% from 2021 to 2030. Sports tourism encompasses traveling to participate in or witness sporting events outside one’s usual environment.
The sector can be categorized into three primary types: sports event tourism, celebrity and nostalgia sport tourism, and active sport tourism. This industry has positively impacted various demographics, contributing to economic development through sectors like accommodation, dining, and retail. Sporting events play a pivotal role in enhancing local economies by fostering infrastructure and service improvements to accommodate increased tourist activity.
The growth of the sports tourism industry is fueled by the increasing number of sports events worldwide. More tournaments are being organized in both established and new venues, aiming to enhance fan engagement and expand the geographical reach of sports. This expansion is projected to fuel the demand for hospitality services near these venues, further propelling the industry’s growth.
Key players in the market include BAC Sports, QuintEvents, Sports Travel & Hospitality Group, MATCH Hospitality, THG Sports, Club Europe Holidays Ltd., Gullivers Sports Travel Limited, Inspiresport, DTB Sports Hospitality and Event Management Ltd., and Great Atlantic Sports Travel.
The sports tourism market exhibits extensive segmentation. Based on the product, it encompasses football/soccer, cricket, motorsport, tennis, and more. The market is further divided by type into domestic and international tourism and by category into active and passive tourism. Geographically, the analysis covers North America, Europe, Asia-Pacific, and LAMEA.
Recent studies indicate that Europe held the largest revenue share in the sports tourism sector in 2020, with projections for significant growth by 2030. Football/soccer remains the most lucrative segment, followed by strong performances in domestic and passive sports tourism segments.
The increasing demand for larger venues due to the burgeoning sports tourism industry necessitates expanded seating arrangements to enhance ticket sales revenue. Additionally, the expansion of fan zones and efforts to accommodate a greater number of sports fans are crucial trends shaping the future of sports tourism. However, financial constraints for franchise teams could pose challenges.
The COVID-19 pandemic had a significant impact on the market, disrupting travel and sporting events, influencing market trends and creating future uncertainties.
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