Press release
Sports Tourism Market Report, Size, Share, Growth, Trends, Industry Outlook to 2033
Sports Tourism Market Report,
The new report published by The Business Research Company, titled Sports Tourism Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.
As per the report, 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 $893.50 billion in 2028 at a compound annual growth rate (CAGR) of 11.3%.
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What Is Driving The Growth Of The Global Sports Tourism Market?
An Increase In The Number Of Young Players Is Driving The Growth Of The Sports Tourism Market
The increase in the number of young players is expected to propel the growth of the sports tourism market going forward. The rise in younger player participation in sports is often driven by increased awareness of health benefits, more accessible sports programs, and enhanced community engagement. Young players' participation boosts sports tourism by increasing demand for youth sports events and tournaments, driving travel for competitions and training camps. For instance, in December 2023, according to a report published by the Sports and Fitness Industry Association (SFIA), a US-based trade association, team sports participation in the United States reached 70.8 million in 2022, up from 67 million in 2020, reflecting a growth of 3.6 million participants. The increase in aggregate team sports participation was particularly notable among the 6-to-12 and 13-to-17 age groups, which both saw higher participation levels from 2021 to 2022. Therefore, the increase in the number of young players is driving the growth of the sports tourism market.
What Is The Key Trend In The Global Sports Tourism Market?
Advancements In Sports Tourism With Dynamic Real-Time Index Scoring And Enhanced Event Management Solutions
Major companies operating in the sports tourism market are focused on developing advanced solutions such as dynamic real-time index scoring to enhance decision-making and improve event management. Dynamic real-time index scoring involves continually evaluating and updating scores or ratings for destinations, events, and facilities based on real-time data. This system enables stakeholders to make well-informed decisions and adapt quickly to changing conditions. For instance, in June 2024, Tempest, a US-based provider of software, websites, and digital marketing solutions, launched the Sports Tourism Index 2.0. This upgraded platform is aimed at enhancing the capabilities of destination marketing organizations (DMOs) and sports event rights holders. The updated platform includes significant improvements, such as enhanced event search functionalities with predictive capabilities, dynamic real-time index scoring, and detailed management tools for facilities and user teams. It also offers on-demand reporting and advanced matchmaking features to better connect events with suitable facilities.
How Is The Global Sports Tourism Market Segmented?
The sports tourism market covered in this report is segmented -
1) By Tourism: Active, Passive, Nostalgia
2) By Type: Soccer And Football, Cricket, Basketball, Tennis, Hockey, Other Types
3) By Sports Activity: Adventure Sports Tourism, Individual Sports Tourism, Team Sports Tourism
4) By Booking Channel: Online Booking Platform, Direct Bookings, Travel Agencies, Social Media Platforms, Other Booking Channels
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How Is The Competitive Landscape Of The Global Sports Tourism Market?
Major companies operating in the sports tourism market are 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
Contents Of The Global Sports Tourism Market
1. Executive Summary
2. Sports Tourism Market Report Structure
3. Sports Tourism Market Trends And Strategies
4. Sports Tourism Market - Macro Economic Scenario
5. Sports Tourism Market Size And Growth
…..
27. Sports Tourism Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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