Sports Tourism Market Dynamics 2023-2029: Industry Challenges and Growth Prospects


Posted May 3, 2024 by falgunimmr

Sports tourism is traveling from one location to another to be an audience member at a sports tournament.There are main two events that attract the most
 
An overview of the Sports Tourism Market is as follows:

The comprehensive "Sports Tourism Market" tudy covers important topics such an overview, definition, and structural analysis, offering a detailed investigation of the sector. In order to identify the forces, constraints, opportunities, and difficulties that influence market dynamics, it explores microelements such as gross margin, cost, market share, capacity, utilization, and supply. This vital information is necessary to help investors make well-informed judgments and to create strategic strategies for new entrants.

Technological developments and industry expansion in the Sports Tourism market are expected to be key drivers of market progress throughout the projected period.

Examination and Advancement of the Sports Tourism Market:

Sports Tourism Market size was valued at USD 1.30 Bn. in 2022 and the total Sports Tourism revenue is expected to grow by 32.28% from 2023 to 2029, reaching nearly USD 9.28 Bn.

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Sports Tourism Market Extent

In order to provide insights into the long-term implications of the major drivers and constraints affecting the Sports Tourism industry, this study does a microanalysis of those factors. The report uses accurate visuals, clear and understandable language, and a combination of quantitative and qualitative data analysis.

The Sports Tourism market report's data analysis takes a thorough approach, including primary and secondary data gathering techniques. While secondary data includes government websites, yearly reports, and the financial reports of important companies in the market, primary data gathering entails conducting telephone interviews and in-person surveys to obtain a thorough picture of the industry.

Strategic tools for strategic planning and management, such as SWOT analysis, provide micro-scale analysis. The technological, social, legal, environmental, political, and economic effects on the Sports Tourism market are also clarified by PESTLE analysis.

In addition, the paper explores current industry trends and offers projections for the years to come.

Sports Tourism Market Classifications

by Product

1. Football
2. Cricket
3. Soccer
4. Others

Based on Product, The football segment dominated the segmental market share accounting for over 39.2% of the total revenues generated in 2022. The Football World Cup in Qatar boosted the revenues of sports tourism. Apart from this global event, football is majorly played at club levels throughout the world. Europe is the prominent region for club football with a maximum of the biggest clubs all situated in the region.


by Type

1. Domestic
2. International

Based on the Type, The domestic sports tourism segment exhibited a gradual increase in market share and continued to grow during the forecast period. Based on the type market is divided into two types Domestic and International. Many domestic sports leagues are held across the globe. These sports leagues have a higher proportion of domestic tourists due to the easy availability of intra-region transportation, the convenience of using a uniform regional or national currency, and familiarity with the culture and languages. An increasing number of sports teams are aiding the transportation of their fans across different venues. For instance, in Qatar, the government of Doha provides several transport options to fans when they arrive in the country, which include free shuttle buses, the Doha Metro, taxis and cab services, and dedicated bus and taxi lanes for fans. India hosts Pro Volleyball League and Indian Premiere League for Cricket matches in India. In addition, rising disposable income, growing population, improvement in infrastructure, and increasing investments and funding by the government for promotion and hosting of sports events The above factors will drive the growth of the market during the forecast period.


by Category

1. Active
2. Passive

Based on the Category,The Passive tourism segment dominated the Sport Tourism Market during the forecast period 2023-2029. Based on the category market is classified into Passive Sports Tourism and Active Sports Tourism. Passive tourists can potentially give more to the sport than active participants. A passive sports tourist is someone who attends a sporting event but does not actively participate in it. They are onlookers or fans. Tourists that participate in passive Sports Tourism watch sports being played. This could be at a major athletic event (qualifying as sports event tourism), or it could simply be to support a family member or friend. The majority of passive sports visitors are fans. Passive tourism includes all the tourists who travel for watching a sport, event, or tournament. Passive is estimated to dominate the segment through the forecast period. An increase in revenues from active tourism is subject to the increasing number of tournaments as well as an increasing number of participants. For instance, in the upcoming FIFA WC in 2026, the tournament is planning to include 48 participating nations, unlike 32 participating nations in the previous tournaments. Still, the number of passive tourists will always be higher than active tourists. As a result, passive tourism is expected to exhibit the highest growth rate during the forecast period.

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Sports Tourism Market Geographical Evaluation

The study places a strong emphasis on a regionally specific, in-depth industry analysis to support region-specific strategy planning. grasp the reasons why some areas dominate the global market requires a thorough grasp of regional analysis. Comprehending the study of major regions becomes crucial over the projected period as it aids investors in comprehending the effects on regional market trends, development potential, and limits as well as the worldwide compound annual growth rate (CAGR). It is anticipated that some areas would get a sizable market share and position in the sector.

The following companies are included in the market for Sports Tourism :

1. BAC Sports
2. Inspiresport
3. Gullivers Sports Travel Ltd
4. Dream Team Sports Tour
5. Navigo Sports Tour, LLC
6. Allsports Travel
7. Australian Sports Tours
8. Premium Sport Tours
9. La Vacanza Travel
10. XL Sports Tours
11. ATPI Ltd.
12. DTB Sports Management Ltd.
13. Fanatic Sports Pvt. Ltd.
14. Gala Management Services Ltd.
15. Global Sports Travel and Tours Pty Ltd.
16. International Sports Management Inc.
17. ITC Travel Group
18. JTB India Pvt. Ltd.
19. KNT CT Holdings
20. Match Hospitality AG
21. QuintEvents LLC
22. Sports Tours International Ltd.
23. Sports Travel and Hospitality Group Ltd.
24. Sportsnet Corp. Pty Ltd.
25. The Hospitality Group
26. Thomas Cook India Ltd.
27. Travel sports
28. Veda Sports Marketing Pvt. Ltd.
29. Victory Sports Tours

List of Contents : Sports Tourism Market

Part 01: Executive Summary

Part 02: Scope of the Sports Tourism Market Report

Part 03: Sports Tourism Market Landscape

Part 04: Sports Tourism Market Sizing

Part 05: Sports Tourism Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

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Issued By mmr
Country India
Categories Business
Last Updated May 3, 2024