Sports Tourism Market

Market CAGR for Sports Tourism is being driven by the rising growth in the sports industry and the increase in women’s team participation in various leagues and tournaments. The sports industry, being the largest entertainment sector ly, has a positive impact on the economy, with football, basketball, baseball, hockey, cricket, and soccer emerging as the most popular sports played and watched internationally. Additionally, the sports tourism market is influenced by significant advertising and offerings provided by sports tour companies, contributing to increased tourism in specific regions or sports, and fostering growth during the forecast period.

In recent years, there has been the introduction of numerous sports tournaments dedicated to women. For example, Cricket Australia introduced the Women's Big Bash League in 2015-16, and the Indian Premier League introduced the women's edition in 2018. Furthermore, established women's sports tournaments and leagues are experiencing a rise in women's team participation. This surge in the number of introduced tournaments and increased participation by women's teams across various leagues and tournaments is expected to propel the sports tourism industry's growth.

Additionally, the International Hockey Federation initiated the Men's FIH Pro League, an international men's field hockey competition, in 2019, which has been organized annually since then. According to the German Olympic Sports Federation (DOSB), sports funding through the Federal Ministry of the Interior for Building and Home Affairs (BMI) increased from USD 334 million (Euro 279 million) to USD 351 million (Euro 293 million) in 2021.

As a result, it is anticipated that throughout the projection period, demand for the Sports Tourism Market will increase due to the rising growth in the sports industry and the increase in women’s team participation in various leagues and tournaments. Thus, driving the Sports Tourism Market revenue.

The Global Sports Tourism Market Industry experiences a surge in participation rates across various sports disciplines. As more individuals engage in sports, the demand for travel to attend events or participate in competitions increases. For instance, the International Olympic Committee reported a growing number of athletes and spectators at global sporting events. This trend is expected to contribute to the market's growth, with projections indicating a market value of 838.9 USD Billion in 2024. The increasing enthusiasm for sports tourism is likely to drive investments in infrastructure and services catering to sports enthusiasts.

By region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The anticipated expansion of the Sports Tourism market in North America can be attributed to several key factors. The surge in athletic events is anticipated to positively impact the tourism industry, attracting more visitors to sports facilities and boosting the demand for sports tourism in the United States. This upswing is particularly influenced by major sporting events like the NFL and NBA.

While certain sports, such as cricket, may not be as widely popular in the region, efforts are underway to invest in infrastructure for their development. An example is the Major Cricket League (MCL), slated to receive a substantial investment of US$120 million for establishing facilities in key cities like Philadelphia, New York, Miami, and San Francisco. According to the Statista Digital Market Outlook of 2023, the revenue from the sports events tickets market in the United States surpassed 14 billion U.S. dollars in 2022.

Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: SPORTS TOURISM MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe Sports Tourism Market accounts for the second-largest market share as Europe dominated the sports tourism market, holding the largest share of revenue due to the increasing number of athletes, sports events, and visitors. The major markets in Europe, including Germany, France, and the U.K., exhibit the highest potential in the region. Despite the smaller population sizes in Austria, Denmark, Finland, and Spain, citizens from these countries display a higher propensity to travel for sports-related activities. In 2022, the sports sector in the EU employed 1.51 million people, constituting 0.8% of total employment.

This reflects a 10.9% increase in the number of people employed in the sports sector compared to 2021 (1.36 million). Further, the German Sports Tourism Market held the largest market share, and the UK Sports Tourism Market was the fastest-growing market in the European region.

The Asia-Pacific Sports Tourism Market is expected to grow at the fastest CAGR from 2023 to 2032. China and India are playing a positive role in the industry's growth, driven by factors such as the expanding sports events sector, rising per capita income, a growing middle-class population, and increased disposable income. The Indian sports industry experienced a remarkable 49% growth in 2022, surpassing ₹14,000 crore in revenue, compared to around ₹9,530 crore the previous year. Media spending for the Indian sports industry also increased by 26% in 2022, reaching ₹7,553 crore, up from ₹6,018 crore in the preceding year.

Furthermore, substantial growth in the popularity of international sports events like the Cricket World Cup and Tokyo Olympics is anticipated to further propel market growth. Moreover, China’s Sports Tourism Market held the largest market share, and the Indian Sports Tourism Market was the fastest-growing market in the Asia-Pacific region.

Leading market players are investing heavily in research and development to expand their product lines, which will help the Sports Tourism market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Sports Tourism industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Sports Tourism industry to benefit clients and increase the market sector. In recent years, the Sports Tourism industry has offered some of the most significant advantages to the local economies, businesses, and the overall promotion of sports and cultural exchange.

Major players in the Sports Tourism Market, including TravelOsports, MATCH Hospitality, Club Europe Holidays Ltd., Sports Travel & Hospitality Group, Sportsnet Corporation Pty Ltd., QuintEvents, Gullivers Sports Travel Limited, BAC Sports, Inspiresport Group Limited, DTB Sports Hospitality and Event Management Ltd are attempting to increase market demand by investing in research and development operations.

BAC Sport is a reputable and well-established provider of customized sports travel and hospitality services, boasting 25 years of experience in crafting packages for individuals, corporations, concierge, and incentive agencies. Additionally, the company specializes in organizing travel and logistics for the England Football Media. BAC Sport offers tailor-made packages for a diverse range of sports, including Formula One, rugby, tennis, golf, and football, catering to both domestic and international sporting events. As an ATOL-protected entity, BAC Sport takes pride in being the preferred sports tour operator for prominent clients such as American Express, Travel Group, Hays Travel, and Travel Counsellors.

The company is also a registered supplier for Ten Lifestyle Group and its members, along with several other concierge companies.

DTB is a London-based company specializing in offering client entertainment solutions, which encompass hospitality and ticket options, as well as tailored event management services. Originally established in August 2002 as a sports hospitality and bespoke event brokerage with a background in sports marketing, DTB has evolved to become a provider of client entertainment solutions for a diverse range of events, both domestically and internationally. Leveraging an extensive network of established connections and partnerships, DTB Sports and Events serves as a single point of contact for busy individuals seeking to book corporate hospitality and tickets for events worldwide.

The company excels in delivering hospitality packages for major sporting and cultural events, with the specific components varying based on the nature of each event and offering limitless combinations.