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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