(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Jan. 03, 2025 (GLOBE NEWSWIRE) -- The "Sports tourism market Report 2024" report has been added to ResearchAndMarkets.com's offering.
This Sports Tourism market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The sports tourism market size has grown rapidly in recent years. It will grow from $524.76 billion in 2023 to $583.14 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The sports tourism market size is expected to see rapid growth in the next few years. It will grow to $893.5 billion in 2028 at a compound annual growth rate (CAGR) of 11.3%. The growth during the historic period can be attributed to advancements in transportation infrastructure, the expansion of sports media, increased globalization, growth in the sports industry, and the increasing number of tournaments. The growth in the forecast period can be attributed to increased advertising, a rise in women's team participation, more fan zones, growing technological needs, and greater investments from various organizations. Major trends in the forecast period include the integration of AI into wearable devices such as watches and heart rate monitors for player tracking, digital transformation, technological advancements, the Internet of Things (IoT), and the adoption of AR and VR in sports.
The growth in the number of young players is expected to drive the expansion of the sports tourism market in the future. This rise in youth participation is often fueled by greater awareness of health benefits, more accessible sports programs, and enhanced community involvement. Increased participation among young players boosts sports tourism by elevating the demand for youth sports events and tournaments, leading to more travel for competitions and training camps. Consequently, the rising number of young players is fueling the growth of the sports tourism market.
Major players in the sports tourism market are concentrating on developing advanced solutions such as dynamic real-time index scoring to improve decision-making and event management. Dynamic real-time index scoring involves continuously assessing and updating scores or ratings for destinations, events, and facilities based on live data. This system helps stakeholders make informed decisions and quickly adapt to changing conditions.
In May 2024, Sports Tours International, a UK-based sports travel company, acquired Destination Marathons LLC for an undisclosed amount. This acquisition enables Sports Tours International to broaden its reach and offer a wider range of running events and destinations to American runners. Destination Marathons LLC, a US-based travel company, specializes in providing comprehensive travel packages for runners participating in marathons around the world.
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. The countries covered in the sports tourism market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $583.14 Billion |
| Forecasted Market Value (USD) by 2028 | $893.5 Billion |
| Compound Annual Growth Rate | 11.3% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Sports Tourism Market Characteristics
3. Sports Tourism Market Trends and Strategies
4. Sports Tourism Market - Macro Economic Scenario
4.1. Impact of High Inflation on the Market
4.2. Ukraine-Russia War Impact on the Market
4.3. COVID-19 Impact on the Market
5. Global Sports Tourism Market Size and Growth
5.1. Global Sports Tourism Market Drivers and Restraints
5.1.1. Drivers of the Market
5.1.2. Restraints of the Market
5.2. Global Sports Tourism Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Sports Tourism Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)
6. Sports Tourism Market Segmentation
6.1. Global Sports Tourism Market, Segmentation by Tourism, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
6.2. Global Sports Tourism Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Soccer and Football Cricket Basketball Tennis Hockey Other Types
6.3. Global Sports Tourism Market, Segmentation by Sports Activity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Adventure Sports Tourism Individual Sports Tourism Team Sports Tourism
6.4. Global Sports Tourism Market, Segmentation by Booking Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Online Booking Platform Direct Bookings Travel Agencies Social Media Platforms Other Booking Channels
7. Sports Tourism Market Regional and Country Analysis
7.1. Global Sports Tourism Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Sports Tourism Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Some of the major companies profiled in this Sports Tourism market report include:
KNT CT Holdings IMG Travel Thomas Cook India Ltd. International Sports Management Inc. Teamlink Travel Match Hospitality AG QuintEvents LLC Sports Tours International Ltd. Sportsnet Corp. Pty Ltd. JTB India Pvt. Ltd. Fanatic Sports Pvt. Ltd. Event Travel Management Sports Travel and Hospitality Group Ltd. Travel And Sport Veda Sports Marketing Pvt. Ltd. Victory Sports Tours BAC Sports Ltd. DTB Sports Management Ltd Premiership Experience Global Sports Travel and Tours Pty Ltd. Sports Travel Group ITC Travel Group Hospitality Group
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Sports Tourism Market Report 2024
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