Sports Tourism Market To Grow With an Impressive CAGR During the Forecast Period
Globalizing sports events are driving
the growth in Global Sports Tourism Market in the forecast period, 2022-2026.
According
to TechSci Research report, “Global Sports Tourism Market By Sports (Soccer
Tourism, Cricket Tourism, Hockey Tourism, Tennis Tourism, Others) By
Application (Passive Sports Tourism, Active Sports Tourism) By Type (Domestic
Tourism, International Tourism) By Region, Competition Forecast &
Opportunities, 2026”,
the global sports tourism market may potentially project an impressive growth
in the forecast period, 2022-2026, with an impressive CAGR on the account of increased
number of sports event in the recent years. Though the market suffered in the
wake of recent pandemic situation. COVID-19 virus spread halted the world
economy and the whole population observed lockdown. Under the regulations, no
sport events were conducted, and any kind of travel and tourism was denied.
With the advancement in healthcare industry and availability of the vaccines
the market has been reinstated and now is expected to flourish in the upcoming
five years.
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The global sports
tourism market is segmented by sports, application, type, competitional
landscape, and regional distribution. Based on application, the market is
further bifurcated into passive sports tourism, and active sports tourism.
Passive sports tourism is anticipated to hold the larger shares of the market
due to rising number of tourists visiting the sports events. In the recent
years, fans have multiplied and are more inclined on visiting the sport arenas
as compared to just watching the games from their home screens. This factor is
aiding to the growth of the market segment and indirectly to the growth of
market. Moreover, the rapidly rising number of sports events have influenced
players from all around the world to participate. The laurel these games bring
for the players as well as the nations, are enticing the players to participate
actively and thereby supporting the growth of the active sports tourism along
with the growth of the global sports tourism market in the next five years.
Based on sports, the
market is further segmented into soccer tourism, cricket tourism, hockey
tourism, tennis tourism, and others. Cricket tourism is anticipated to hold the
largest revenue shares of the market and assert its dominance over the market
on the account of rapidly increasing craze about the sports and increased
number of fans for the sport, the teams, and the specific players. Moreover,
number of international events being conducted by major economies is also
aiding to the support of the global sports tourism market in the next five
years. Soccer tourism is expected to register significant amount of the revenue
shares of the market in the upcoming five years on the account of number of
teams increasing in the European and American regions.
Holding the major shares
of the global sports and tourism market are BAC Sports Ltd., DTB Sports
Hospitality and Event Management Ltd., Great Atlantic Sports Travel,
International Sports Management Inc., MATCH Hospitality AG, QuintEvents LLC,
Sports Tours International Ltd., Sports Travel & Hospitality Group Ltd.,
Sportsnet Corporation Pty Ltd., TravelOsports, Fanatic Sports Pvt. Ltd., Veda
Sports Marketing Private Limited (Sports Konnect), Venatour Ltd, Lions Sports
Travel Ltd., Roadtrips Sports Travel, among others. Market players are actively
involved in the research and technological development in the betterment of
trip and tourism services. Internet availed tour packages are in trend are
actively supported for the sports events for the fans as well as the sports
persons thus aiding the growth of the market. Further advancement would aid the
market value and brand establishment in the future five years. New market
players may focus on the research and development to provide options that
satisfies the consumer demand as well as benefits the market players in
building their brand value. Other competitive strategies include mergers &
acquisitions and new product developments.
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“North America is one of the majorly
growing regions in the world in terms of the growth of global sports tourism
market. The market growth is directly proportional to the number of events
being carried out in the region. Moreover, the better infrastructure, security
services of the large economies of the region along with the availability of
the world-class facility is expected to be driving the growth of the market in
the next five years. Europe is expected to register fastest growing CAGR in the
next five years owing to its rapidly evolving sports infrastructure and
availability of perfect atmosphere for the sports events. Moreover, the region
has reported qualitative degradation in any terrorism activity assuring the
region to be secure and thereby supporting the growth of the global sports
tourism market in the near future. New market players may focus on providing
better tour packages for the fans, as well as best accommodations for the
players and sports persons making it viable for the consumers to focus on the
game as well get enough rest before the events,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Global Sports Tourism
Market By Sports (Soccer Tourism, Cricket Tourism, Hockey Tourism, Tennis
Tourism, Others) By Application (Passive Sports Tourism, Active Sports Tourism)
By Type (Domestic Tourism, International Tourism) By Region, Competition
Forecast & Opportunities, 2026”, has evaluated the future
growth potential of global sports tourism and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in global sports tourism market.
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