SPORTS TOURISM MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

The sports tourism market is estimated to be valued at US$ 769.37 Bn in 2024, growing at a compound annual growth rate (CAGR) of 12.8% from 2024 to 2031. Sports tourism is a growing phenomenon worldwide. It refers to trips and visits undertaken by sports enthusiasts to attend sports events or to participate actively in various sporting activities. Major activities included under sports tourism are extreme sports events, water sports, winter sports, golfing trips, and so on. Sports events and competitions attract thousands of spectators from across the globe, providing an impetus to the travel and hospitality industry in the host destinations. The growing popularity of international sports leagues and competitions has substantially boosted sports tourism in recent years. The market is expected to expand further in the coming decade due to increasing incomes, adventurous mindsets among millennial travelers, and government initiatives to promote niche tourism segments.

 Market Dynamics:

The global sports tourism market is driven by the rising popularity of international sporting events and improving sports infrastructure in various destinations. Factors such as increasing travel expenditures of sports enthusiasts, aggressive marketing by destinations to attract sports events, and growing participation in niche sporting activities are fueling the market growth. However, seasonality concerns and dependence on a few mega sporting events pose challenges. On the positive side, emerging trends like sports-integrated vacation packages and social media promotion of untapped destinations offer new opportunities. Overall, the market is expected to witness lucrative prospects with the continued growth of the global sports industry and the travel sector.

 Key Features of the Study:

• This report provides an in-depth analysis of the global sports tourism market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global sports tourism market based on the following parameters company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include Victory Sports Tours, BAC Sports Ltd., DTB Sports Management Ltd, Fanatic Sports Pvt. Ltd. , Gala Management Services Ltd., Global Sports Travel and Tours Pty Ltd., International Sports. Management Inc., ITC Travel Group, JTB India Pvt. Ltd., KNT CT Holdings , Match Hospitality AG, QuintEvents LLC , Sports Tours International Ltd., Sports Travel and Hospitality Group Ltd., Sportsnet Corp. Pty Ltd., The Hospitality Group, Thomas Cook India Ltd., Travel sport, Veda Sports Marketing Pvt. Ltd., and TPI Ltd.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• The global sports tourism market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global sports tourism market.

Market Segmentation

• Sports Type:
  • Hockey
  • Soccer/Football
  • Cricket
  • Basketball
  • Tennis
  • Others
• Tourism Type:
  • Active
  • Passive
  • Nostalgia
• Regional:
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Company Profiles:
  • Victory Sports Tours
  • BAC Sports Ltd.
  • DTB Sports Management Ltd
  • Fanatic Sports Pvt. Ltd.
  • Gala Management Services Ltd.
  • Global Sports Travel and Tours Pty Ltd.
  • International Sports Management Inc.
  • ITC Travel Group
  • JTB India Pvt. Ltd.
  • KNT CT Holdings
  • Match Hospitality AG
  • QuintEvents LLC
  • Sports Tours International Ltd.
  • Sports Travel and Hospitality Group Ltd.
  • Sportsnet Corp. Pty Ltd.
  • The Hospitality Group
  • Thomas Cook India Ltd.
  • Travel sport
  • Veda Sports Marketing Pvt. Ltd.
  • TPI Ltd.