NEW YORK, May 1, 2024 /PRNewswire/ — The global sports tourism market size is estimated to grow by USD 559.75 billion from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 12.88% during the forecast period. Europe is estimated to contribute 40%. to the growth of the global market.
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The Sports Tourism Market report forecasts market growth by revenue at global, regional & country levels from 2017 to 2027.
Region Outlook
- North America
- Europe
- APAC
- South America
- Middle East & Africa
2. Europe – Europe is anticipated to contribute significantly, about 40%, to the global market’s growth in the upcoming forecast period. Experts from Technavio have thoroughly outlined the regional trends and factors driving this market trajectory. Europe emerges as a key center, owing to its plethora of sports events hosted within the region. Sporting teams and events enjoy considerable popularity and active participation from athletes and spectators alike.
- Several European governments, such as the UK, actively promote a healthy lifestyle and sports engagement. The UK government, for instance, fosters a sports-oriented culture among school students through partnerships with major sporting entities like the PREMIER LEAGUE, the Rugby Football Union, and England Hockey.
- These collaborations provide students with opportunities for competitive engagement, fostering a widespread and deeply ingrained sporting culture among the general populace.
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Research Analysis
Sports tourism is a booming market encompassing motorsport, cricket, tennis, FIFA World Cup, UEFA Champions League, Formula 1, NASCAR, marathons, triathlons, Olympics, NBA, basketball, baseball, hockey, soccer, Men’s FIH Pro League, and more. With strategic partnerships and premier travel destinations, the industry focuses on event hosting, destination appeal, and visitor experiences.
Sustained growth is driven by leisure travelers and fans seeking exciting sports encounters. Partnership initiatives aim to enhance the appeal of sports destinations, offering memorable experiences for travelers worldwide. The synergy between sports and tourism creates opportunities for economic development and global connectivity, making sports tourism a vital component of the leisure travel sector.
Market Overview
The sports tourism market thrives on the excitement of motorsport, cricket, tennis, and more. From the FIFA World Cup to the UEFA Champions League, it’s a playground for fans and travelers alike. Formula 1 and NASCAR races draw crowds seeking thrilling experiences. Marathons and triathlons attract fitness enthusiasts worldwide. The Olympics showcase athletic prowess on a grand scale. NBA, basketball, baseball, and hockey games offer electrifying matchups. Soccer, including the Men’s FIH Pro League, unites fans globally.
Partnership initiatives drive strategic growth, enhancing event hosting and destination appeal. Premier travel destinations capitalize on visitor experiences, fostering sustained growth. The collaboration between sports industries and tourism sectors creates memorable leisure travel opportunities. Fans become travelers, exploring new locales for their favorite sports. With strategic partnerships, sports tourism evolves into a dynamic industry, catering to diverse interests and enhancing the global travel landscape.
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Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio