The global sports tourism market was valued at USD 559.6 billion in 2020 and growing at a CAGR of 6.0% during the forecast period.
Sports Tourism Market: Breakup by Region, 2022 & 2031
Source: Primary Research and Secondary Research Analysis
Sports tourism is the fastest-growing segment of the tourism industry and is expected to continue this trend throughout the forecast period. It is one of the most significant leisure and entertainment activities, which offers people the opportunity to explore different sports and destinations.
The growth of the sports tourism market is attributed to the increasing number of sports events organized on a global scale, rising disposable incomes of consumers, and the development of sports infrastructure. Additionally, the increasing number of sports tourism operators, the development of innovative sports and entertainment technologies, the rising penetration of the internet and social media, and the introduction of e-sports are some of the factors driving the growth of the market. However, the high cost of sports tourism packages and the lack of awareness about the advantages of sports tourism among people in the emerging economies are restraining the growth of the market.
The global sports tourism market is segmented based on type, sport, and region. By type, the market is divided into individual sports, team sports, and adventure sports. The individual sports segment is expected to account for the largest share of the market during the forecast period. This can be attributed to the increasing popularity of individual sports activities such as running, cycling, and swimming. By sport, the market is divided into football, tennis, basketball, golf, motorsport, and others. The football segment is projected to account for the largest share of the market during the forecast period. This is attributed to the increasing number of football competitions and the presence of major international football events such as the FIFA World Cup, UEFA Champions League, and UEFA Europa League.
Geographically, the sports tourism market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. North America is anticipated to account for the largest share of the market during the forecast period. This is attributed to the presence of a large number of major players in the region, the increasing number of sports events and competitions, and the rising disposable incomes of people in the region.
Global Sports Tourism Market Research Report, 2020-2031.
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