Sports tourism involves travel away from one's place of residence and work to participate in physical activities, sports or to experience sporting events. It includes both active participation and passive involvement. Key products that drive sports tourism include sports facilities, sports equipment and sport clubs/associations. With growing popularity of various sporting leagues and tournaments around the world, the interest in actively participating and spectating sporting events has increased significantly. Increasing disposable incomes and international exposure to sports on television and digital platforms have further fueled the demand.
The Global Sports Tourism Market Share is estimated to be valued at US$ 1787.72 Bn in 2024 and is expected to exhibit a CAGR of 12% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the sports tourism market are 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. These players are focusing on expanding their portfolio of sporting events and participating destinations to capitalize on the growing sports tourism industry.
In terms of opportunities, the sports tourism sector is expected to witness high growth in emerging markets such as India, China and various African countries. With rising spending power of consumers and development of local sports infrastructure in these regions, the demand for sports travel is likely to spike. Tour operators are adjusting their business strategies to tap into these lucrative markets. Moreover, strategic partnerships between regional and global event organizers with local travel companies will aid global expansion of sports tourism in the coming years.
Market drivers and restrain
One of the major driver for the sports tourism market is growing interest in international sports leagues and events. Mega global sporting events such as FIFA World Cup, Olympics etc are attracting millions of spectators worldwide thus driving the demand for associated travel and logistics. Furthermore, increasing number of franchise based sports leagues along with development of local clubs and gaming communities have enhanced the overall fan engagement with various sports. This has led more people to participate in sports tourism either as an enthusiast or professional player.
High entry barrier for new players and sustainability issues can pose a potential challenge for the market growth. Organizing mega global sporting events require huge capital investments and operational challenges. Further, concerns around overcrowding at popular destinations and environmental impact of tourism activities needs to be addressed. Strict policies and compliance standards can negatively impact operations of small players.
Segment Analysis
The sports tourism market is dominated by the domestic sport tourism sub-segment. This is because most sports tourists prefer to travel domestically to attend local sporting events and activities. They engage in sporting activities like sports fishing, sports camps/clinics, theme parks with sports activities, and recreational activities like cycling, hiking, etc. at domestic locations. The domestic sports tourism segment has witnessed high growth over the years owing to increasing popularity of local sporting leagues and events in many countries.
Global Analysis
Regionally, North America dominates the global sports tourism market currently. This is attributed to strong presence of many professional sports leagues in the US and Canada that attract huge domestic and international fan following. Large number of sports events, better sports infrastructure and growing sports culture has made North America the center of sports tourism globally. However, the Asia Pacific region is projected to witness the fastest growth during the forecast period. Developing nations like China and India are aggressively promoting sports tourism by hosting global sporting events and improving sports infrastructure. Increasing sports culture and disposable incomes in Asia Pacific will continue to drive the market in the coming years.
For more insights, Read- Sports Tourism Market
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