0
2021
Sports Tourism Market

Sports Tourism Market

by Product (Football/Soccer, Cricket, Motorsport, Tennis, and Others), Type (Domestic and International), and Category (Active and Passive): Global Opportunity Analysis and Industry Forecast 2021-2030
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Report Code: A13076
Pages: 290
Aug 2021 | 6099 Views
Author(s) : Aniket Kadam , Roshan Deshmukh
Tables: 124
Charts: 49
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COVID-19

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The global sports tourism market size was valued at $323,420.0 million in 2020, and is projected to reach $1,803,704.0 million by 2030, registering a CAGR of 16.1% from 2021 to 2030.

Sports, travel, and tourism are all interrelated. Sports tourism is now a well-established niche market in the travel industry, whether it is professional athletes or officials attending tournaments and events or fans flying to a country to witness a global sports league.

sports-tourism-market

The tourism industry is rapidly expanding. Tourism is an excellent way to escape the monotony of everyday life. Many people prefer a short or long vacation to break the monotony of life. However, as a generation grows older, the definition of tourism shifts toward exploration. Traditional culture, values, cuisine, monuments, and lifestyles have caught the interest of the X and Y generations, as they provide tourists with a memorable and long-lasting experience. Countries such as the U.S., the UK, Germany, France, Spain, and Australia are popular for sporting events and attract both domestic and international visitors from all over the world. Furthermore, many developing countries, such as India, Sri Lanka, and Brazil, are investing in infrastructure to attract a larger customer base, which is expected to drive the global sports tourism market.

Sports events are cancelled for a variety of reasons, including a lack of financial resources. Sports event planning necessitates a significant investment of both time and money. Sports events are organized by a large number of people, which means they necessitate a significant investment. Organizers of sporting events frequently exhibit excessive commercialism and poor financial management, making poor strategic decisions about ticket prices and sponsors. The Indian Premier League (IPL), Pakistan Super League (PSL), and Big Bash League are all franchise-based sports leagues. A lack of financial support for franchisee teams, on the other hand, can result in event cancellation, which can harm the sports tourism market. As a result, the cancellation of sporting events due to lack of financial resources will restrain the growth of the sports tourism market.

Sports Tourism Market
By Product

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Motorsport segment is expected to grow at highest CAGR of 17.4% during the forecast period.

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To broaden the reach and popularity of sports, new tournaments are being held in existing venues to attract more spectators, and new venues for existing tournaments are being established to attract more spectators. As the number of sports tourists has increased, there is a greater demand for more seating capacity at sporting venues around the world. Large seating capacities result in higher ticketing revenue generation because sports event venues can accommodate a larger number of visitors. Increased revenue from tickets and sports packages will drive the growth of the sports tourism market. Many sports clubs and events are working to increase their capacity to accommodate sports tourists. As a result, new tournaments held in existing venues will create lucrative revenue-generating opportunities for the sports tourism market.

The global sports tourism market demand has been negatively affected by the COVID-19 outbreak. However, as things return to normal and vaccination campaigns pick up speed, sports tourism is expected to fully recover by 2022. People are becoming more health-conscious, and it is expected that they will actively participate in sporting activities to fulfil their desire for a healthy and active lifestyle. When the situation improves and travel restrictions are lifted, sports tourism will regain momentum due to the global population's never-ending love and passion for sports.

Sports Tourism Market
By Type

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Domestic segment held the major share of 56.0% in 2020

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Travel restrictions across borders may hinder the growth of the sports tourism industry. Major countries such as India, China, and other densely populated Asia-Pacific countries, may take longer to fully vaccinate their populations. This could cause the sports tourism market to recover slowly. As a result, various nations’ government policies imposing travel restrictions can have a direct impact on the sports tourism market and may impede the global sports tourism industry's growth.

Sports Tourism Market
By Category

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Passive segment held the major share of 59.0% in 2020

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The global sports tourism market is segmented on the basis of product, type, category, and region. On the basis of product, the market is categorized as football/soccer, cricket, motorsport, tennis, and others. As per type, it is divided into domestic and international. Based on category, the sports tourism market is bifurcated as active and passive. Region-wise, the sports tourism market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. 

Sports Tourism Market
By Region

2030
Europe 
North America
Asia Pacific
Lamea

Europe held the higest market share of 36.8% in 2020

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As per the sports tourism market forecast, due to the enormous popularity and love for football among the global population, the football/soccer segment was the highest revenue contributor in 2020. Domestic segment accounted for the majority of market share. Government development policies as well as large investments in sports infrastructure such as playing fields, stadiums, and sports clubs, have significantly aided the domestic segment's growth. Due to an increase in sports activities and events across various countries, the passive segment captured the greatest share of the sports tourism market. According to the sports tourism market trends, region-wise, Europe is expected to dominate the market. Due to presence of all the major football playing nations and clubs in Europe made Europe an integral part of the football industry.

The prominent sports tourism industry players include BAC Sports, QuintEvents, Sports Travel & Hospitality Group, MATCH Hospitality, THG Sports, Club Europe Holidays Ltd, Gullivers Sports Travel Limited, Inspiresport, DTB Sports Hospitality, Event Management Ltd, and Great Atlantic Sports Travel.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the current trends, estimations, and dynamics of the global sports tourism market from 2021 to 2030 to identify the prevailing market opportunities.
  • Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
  • In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global industry. 
  • The market player positioning segment facilitates benchmarking while providing a clear understanding of the present position of the key market players.
  • The report includes analyses of the regional as well as global market, key players, market segments, application areas, and growth strategies.

Key Market Segments

By Product

  • Football/Soccer
  • Cricket
  • Motorsport
  • Tennis
  • Others

By Type

  • Domestic
  • International

By Category

  • Active
  • Passive

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe 
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Netherlands
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Australia
    • New Zealand
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • South Africa
    • Argentina
    • UAE
    • Rest of LAMEA
 

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According to the insights of CXOs of leading companies, sports tourism is one of the fastest growing segments in the tourism industry. Whether sports are the primary goal of the trip or not, more and more tourists are interested in participating in sports activities while on vacation. Sporting events of all sizes and shapes gather tourists as participants or spectators, and destinations attempt to add local flavors to events and provide authentic local experiences. Mega sporting events, such as the Olympics and World Cups, can serve as a platform for tourism development if successfully leveraged in terms of brand equity, infrastructure development, and other socioeconomic benefits.

Sports and tourism are closely connected and mutually beneficial. Sports, whether it is played as professional, hobbyist, or leisure activities necessitate extensive travel to play and compete in various locations and countries. Major sporting events, such as the Olympic Games, football and rugby championships, have evolved into powerful tourism attractions, significantly contributing to the tourism industry.

Sport is a big attraction and thus, a significant economic source, both from the ACTIVE side of those who participate in sports and from the PASSIVE side of those who watch the sport ‘live.’ Active or passive sports involve a flow of millions of people travelling, resulting in a high volume of business. Thus, sports tourism has evolved as a profitable business.

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FREQUENTLY ASKED QUESTIONS?

A. The global sports tourism market size was valued at $323,420.0 million in 2020, and is projected to reach $1,803,704.0 million by 2030, registering a CAGR of 16.1% from 2021 to 2030. The market growth is attributed to rising popularity of sports, growing participation in sports, growing infrastructure, rising disposable income, and government initiatives to promote sports tourism.

A. The global sports tourism market is projected to reach $1,803,704.0 million by 2030, registering a CAGR of 16.1% from 2021 to 2030. The rising popularity of sports, growing participation in sports, growing infrastructure, rising disposable income, and government initiatives to promote sports tourism are the factors that are expected to boost the growth of the sports tourism market across the globe.

A. https://www.alliedmarketresearch.com/request-sample/13441

A. Product launches, mergers and acquisitions, joint ventures, and geographic expansions are key strategies used by market players. The key players in the global sports tourism 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.

A. The global sports tourism market is segmented on the basis of product, type, category, and region. On the basis of product, the market is categorized as football/soccer, cricket, motorsport, tennis, and others. As per type, it is divided into domestic and international. Based on category, the sports tourism market is bifurcated as active and passive. Region-wise, the sports tourism market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

A. The base year calculated in the report is 2020. The year 2020 was an exceptional year characterized by the outbreak of COVID-19 disease and its rapid spread across the globe. It caused a huge adverse impact on the sports tourism industry due to the lockdown and travel ban strictly imposed by the government in various countries.

A. The increased number of athletic events around the world and mobile ticketing is expected to fuel the global sports tourism market growth. Moreover, the rising popularity of sports, growing participation in sports, growing infrastructure, rising disposable income, and government initiatives to promote sports tourism are the factors that are expected to boost the growth of the sports tourism market across the globe.

A. By product, the football/soccer segment was the highest revenue contributor in 2020, due to enormous popularity and love for football among the global population. By type, the domestic segment held the largest market share. Government development policies and large investments in sports infrastructure such as playing fields, stadiums, and sports clubs, have significantly contributed to the growth of the domestic segment.

A. Government initiatives, geo-political relations between countries, growth of infrastructure favoring sports tourism, rising number of local and national sports events are few of the major factors that have a huge impact on the global sports tourism market.

A. The global sports tourism market demand has been negatively affected by the COVID-19 outbreak. However, as things return to normal and vaccination campaigns pick up speed, sports tourism is expected to fully recover by 2022. People are becoming more health-conscious, and it is expected that they will actively participate in sporting activities to fulfil their desire for a healthy and active lifestyle. When the situation improves and travel restrictions are lifted, sports tourism will regain momentum due to the global population's never-ending love and passion for sports.

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