Sports Tourism Market

PORTLAND, OREGON, UNITED STATES, September 15, 2022 /EINPresswire.com/ -- Allied Market Research recently published a report, titled, "Sports Tourism Market by Product (Football/Soccer, Cricket, Motorsport, Tennis, and Others), Type (Domestic and International), and Category (Active and Passive): Global Opportunity Analysis and Industry Forecast 2021–2030". As per the report, the global sports tourism industry was pegged at $323.42 billion in 2020, and is expected to reach $1,803.70 billion by 2030, growing at a CAGR of 16.1% from 2021 to 2030.

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Drivers, restraints, and opportunities

Rise in GDP and employment contribution, increased popularity of sport tourism to break monotonous lifestyle, advent of mobile ticketing, and surge in spending ability drive the global sport tourism market. However, cancellation of sports activities due to limited budgets hinders the market growth. On the contrary, increase in number of athletic events and rise in tournaments in existing venues to attract more spectators than before are expected to open new opportunities for the market players in the future.

Covid-19 scenario:

The global sports tourism market took a hit due to the Covid-19 outbreak as several sports tournaments were canceled and international travel was banned.
However, the market is expected to recover by 2022 due to increase in vaccination campaigns and active participation in sporting activities.
The motorsport segment is expected to manifest the highest CAGR through 2030

By product, the motorsport segment would showcase the highest CAGR of 17.4% during the forecast period, due to participation of top countries to host motorsports events. However, the football/soccer segment held the largest share in 2020, accounting for nearly one-third of the global sport tourism market, owing to popularity of football events such as the FIFA world cup.

𝗥𝗲𝗾𝘂𝗲𝘀𝘁 𝗙𝗼𝗿 𝗖𝘂𝘀𝘁𝗼𝗺𝗶𝘇𝗮𝘁𝗶𝗼𝗻 :- https://www.alliedmarketresearch.com/request-for-customization/13441

The domestic segment held the largest share

By type, the domestic segment dominated the market in terms of revenue in 2020, contributing to nearly three-fifths of the global sports tourism market, due to heavy investments in sports infrastructure and popularity of sports in several countries. However, the international segment is expected to manifest the highest CAGR of 16.8% during the forecast period, owing to rise in disposable income, improved infrastructure, favorable government policies regarding international tourists, and relationship between host and concerned nations.

Europe, followed by North America, held the largest share

By region, the market across Europe, followed by North America, held the largest share in 2020, accounting for nearly two-fifths of the market, due to presence of large population and high participation in sports activities. However, the global sports tourism market across Asia-Pacific is projected to register the highest CAGR of 17.7% during the forecast period, owing to increase in sports participation and sports event hosting.

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Major market players

BAC Sports
Sports Travel & Hospitality Group
QuintEvents
THG Sports
MATCH Hospitality
Gullivers Sports Travel Limited
Club Europe Holidays Ltd.
DTB Sports Hospitality
Inspiresport
Great Atlantic Sports Travel
Event Management Ltd.

Related Report : -

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of 'Market Research Reports' and 'Business Intelligence Solutions.' AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

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Allied Analytics LLP
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