LONDON--(BUSINESS WIRE)--The global sports tourism market is expected to post a CAGR of around 36% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Sports events and tournaments are being conducted to attract spectators and expand the reach and popularity of sports. For instance, Thailand hosted its first-ever MotoGP World Championship race in Buriram in October 2018. The event attracted more than two hundred thousand visitors from across the world. Similarly, the Afghanistan Cricket Board (ACB) launched the Afghanistan Premier League (APL), a T20 format cricket league in Dubai, UAE. Many such sporting events are attracting a significant number of visitors to sporting destinations, which is driving the growth of the market.
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As per Technavio, the increasing number of fan zones will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Sports Tourism Market: Increasing Number of Fan Zones
Stakeholders in the sports industry are focusing on establishing official fan zones and arenas in the same region that hosts the sports event. These fan arenas broadcast live sports events on large screens. Many popular sporting organizations such as UEFA and BCCI have established their official fan zones across different regions. With the rise in the number of sports events and tournaments, the number of fan zones is expected to increase significantly, thereby influencing the growth of the global sports tourism market during the forecast period.
“Development of VR technology and increasing number of low-cost airlines will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Sports Tourism Market: Segmentation Analysis
This market report segments the global sports tourism market by product (soccer tourism, cricket tourism, tennis tourism, and others), type (domestic and international sports tourism), category (passive and active sports tourism), and geography (Americas, APAC, and EMEA).
The EMEA region led the market in 2018, followed by the Americas and APAC respectively. During the forecast period, the EMEA region is expected to maintain its dominance over the market. This is due to the growing focus on the establishment of infrastructure to accommodate more spectators in sports arenas.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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