Sports Tourism Market is anticipated to Witness High Growth Owing to Rising Interest in Sports among Travellers

 
Sports Tourism Market Growth 

The global sports tourism market is a growing tourism niche. Sports tourism involves either passive or active participation in games and sports. Tourists increasingly want customized travel experiences that combine active participation or spectatorship of sporting events along with travel and accommodation. Sports tourism provides entertainment through major international or domestic sporting events, visiting sports attractions and stadiums, competing as an individual or as part of a team, or improving skills at a sports academy. The growing popularity of cable and digital sports coverage has boosted interest in various domestic and international sports championships like cricket, football, basketball among others. This is enabling the growth of sports tourism as more people want to attend live matches and experience the electric atmosphere of sporting events.

The Global sports tourism market is estimated to be valued at US$ 769.37 Bn in 2024 and is expected to exhibit a CAGR of 12.% over the forecast period 2024 To 2031.

The growth can be attributed to rising disposable incomes, growth of the travel industry, ease of travel and increasing interest in niche travel experiences. Sports event organizers are leveraging sports tourism for generating greater profits besides promotional benefits.

Key Takeaways

Key players operating in the sports tourism 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 key players provide customized sports travel packages and handle travel ticketing, accommodation bookings, destination services, local transportation and VIP match experiences.

The key opportunities in the global Sports Tourism Market Growth include niche opportunities like golf tourism, cricket tourism, adventure sports tourism and niche sporting events. Emerging economies in Asia and Latin America with growing middle class and interest in international sports represent a major opportunity. Developing sports infrastructure and hosting global sporting events help promote tourism and related industries in a destination.

The market is witnessing global expansion through new collaborations between travel operators, event sponsors and national sports bodies. Cross-promotion helps drive tourism during sporting seasons. Regional sports leagues and localized tournaments are helping augment sports tourism potential globally.

Market Drivers

Rising popularity of various international and domestic sporting leagues and events has been a major driver for the sports tourism market. For example, popularity of cricket and football leagues attracts international visitors. Growing interest of millennials and generation Z in adventure sports is expanding opportunities in mountain biking, trekking, skiing, surfing tourism.

Market Restrain

In spite of the growth opportunities, market penetration remains low in certain regions due to lack of sports travel infrastructure and professional operators. High travel and accommodation costs during major sporting events also limit the mass appeal of niche sports tourism. Cultural barriers and lack of sporting culture or interest in some regions also pose challenges for the industry. Language barriers and difficulty in coordinating international travel further restrain market growth to a certain extent.

Segment Analysis

The global sports tourism market is dominated by domestic sports tourism segment. Domestic sports tourism involves traveling domestically for watching as well as participating in sporting events, games, and tournaments. The segment dominates as it provides several opportunities for travelers to watch live sporting events across regions within their respective countries itself. This has significantly boosted the growth of the overall domestic sports tourism segment.

The international sports tourism segment is the fastest growing segment. International sports tourism involves traveling outside one's own country for the purpose of active or passive involvement in sports. Key factors such as increasing disposable income of people, promotions by sports federations and clubs and wider accessibility to international sports events have been driving the growth of this segment.

Global Analysis

The North American region dominates the global sports tourism market and is expected to continue its dominance during the forecast period. High awareness regarding fitness and health, growing sports culture, and presence of many major international sports leagues and teams have been driving the growth of the sports tourism market in this region.

The Asia Pacific region is projected to experience the highest growth during the forecast period. Factors such as rising incomes, increasing health awareness, improving sports infrastructure, government initiatives to promote sports, and hosting of international sporting events are expected to boost the demand for sports tourism in Asia Pacific. Countries like China, India are witnessing rapid growth in their sports tourism industries.

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