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Sports Tourism Market at a CAGR of 9% with Top Players | BAC Sports, Grand Slam Tennis Tours, Gullivers Sports Travel Ltd, Marathon Tours & Travel and More

04-09-2024 11:08 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: The Research Insights

Sports Tourism Market

Sports Tourism Market

The sports tourism market valued at USD 568.7 billion in 2023 and is estimated to grow at a CAGR of over 9% between 2024 and 2031, Increased collaboration between the tourism and sports industries is driving synergies, leading to the development of innovative sports tourism experiences. Partnership initiatives such as joint marketing campaigns and event hosting are enhancing destination appeal, visitor experiences, and sustaining growth in sports tourism.

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Big sporting events are becoming into more and more important variables in the industry. Destinations are using big championships, the Olympics, and the FIFA World Cup-events that are becoming more and more popular worldwide-to draw tourists. Travel to host cities has increased dramatically because to the attraction of seeing elite athletes compete on a global scale, which has boosted local tourist receipts and economic growth.

Major players operating in the sports tourism industry are:

BAC Sports
Grand Slam Tennis Tours
Gullivers Sports Travel Ltd.
Marathon Tours & Travel
Navigo Sports Tour, LLC
Premium Sport Tours
Saddle Skedaddle
WorldStrides Sports
XL Sports Tours
Xtreme Gap Year

Sports Tourism Market Segmentation:

By Sports:

Soccer/Football
Cricket
Basketball
Tennis
Hockey
Others

By Tourism

Active
Passive
Nostalgia

By Sporting Activity

Adventure sports tourism
Team sports tourism
Spectator sports tourism

By Booking Channel

Online booking platforms
Direct bookings
Travel agencies
Others

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Sports Tourism Market Dynamics:

Growing Global Interest in Sports Fuels Surge in Sports Tourism
High Costs Associated with Attending Sporting Events Limit Accessibility
Emerging Markets Offer Untapped Potential for Sports Tourism Growth
Balancing Economic Benefits with Cultural Preservation in Sports Tourism Destinations

Recent Development of sports tourism market:

In November 2023, MyTicketPro debuted a dependable sports ticketing platform made especially for the travel sector at the World Travel Market (WTM) in London. Travel industry executives now have a dependable way to get verified live ticket inventory for sporting events using this platform. This improves dependability and convenience and meets the increasing need for seamless online booking experiences in the sports tourism industry.

In February 2024, JETSETLIFE emerged as the premier marketplace for sports travel globally. Leveraging advanced technology, the company will grant access to previously inaccessible pre-booked inventory and exclusive entry to prestigious international sporting events. It will establish a unique secondary marketplace, enabling fans to effortlessly list and trade travel bookings, even non-cancellable ones, replicating the convenience of purchasing and selling sports tickets.

In June 2023, ITW UXP and Club Vistara announced a collaboration to elevate travel experiences for sports events both domestically and internationally. Acting as the airline's retail and lifestyle partner, ITW UXP curates personalized sports-themed packages for passionate travelers. These packages include event tickets, transportation, accommodations, sightseeing opportunities such as stadium tours, and opportunities for interactions with athletes.

Table of Contents:

Executive Summary
Market Introduction
Research Methodology
Market Dynamics
Sports Tourism market ANALYSIS by segment
NORTH AMERICA Sports Tourism market analysis
EUROPE Sports Tourism market analysis
ASIA PACIFIC Sports Tourism market analysis
Rest of the World Sports Tourism market analysis
Company Profiles

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