Purvaja
by on April 12, 2024
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Sports tourism refers to trips that are primarily motivated by participation in or attendance at sports events and competitions. It comprises activities, facilities, services and organizations that enable active or passive engagement in sports. Some core products of sports tourism include sport events, tourism packages, sport competencies, sponsorships and advertisements. The global sports tourism market enables sports enthusiasts to travel internationally or locally to experience live games, tournaments or other sporting activities including golf, cricket, football or tennis.

The Global Sports Tourism Market Share is estimated to be valued at US$ 1787.72 Bn in 2024 and is expected to exhibit a CAGR of 12% over the forecast period from 2024 to 2031.

With growing popularity of international sporting leagues and tournaments among global audience, sports tourism has emerged as a major segment of the experience economy.

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.

The growing demand for international sporting leagues and events is driving sports tourism globally. Mega sporting tournaments like FIFA World Cup, ICC Cricket World Cup, Wimbledon, Australian Open attract millions of international spectators. This is contributing significantly to the revenues of destination countries through tourism receipts.

Many countries are aggressively promoting their domestic sporting infrastructure and tournaments to gain from huge revenues of sports tourism. They offer attractive travel packages and visa policies to lure foreign spectators. This is expected to fuel the global expansion of sports tourism in the coming years.

Market drivers

The growing popularity of global sporting events among fans worldwide is a major market driver. Big-budget international sporting leagues and tournaments have enhanced fan engagement through televised coverage and digital media. This generates massive demand for experiencing live action at the venues. Moreover, improved connectivity and tourism infrastructure in many developing countries have ease travel for sports fans, propelling the sports tourism industry.

The current geopolitical situation is significantly impacting the growth of the sports tourism market. The ongoing Russia-Ukraine war and rising political tensions between major economies are disrupting travel between different regions of the world. This is adversely affecting the sports tourism industry as many international sports events stand cancelled or postponed. Furthermore, high inflation rates and uncertainty in the economic environment is reducing discretionary travel spending, including sports tourism.

For more insights, Read- Sports Tourism Market

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