Exponential growth of sports tourism

1024 576
Exponential growth of sports tourism
Source: IATA
September 21, 2022

A new report by ResearchAndMarkets.com reveals that the segment will reach $20,240 million globally by 2027

The global sports hospitality market is expected to grow rapidly during the forecast period. The segment includes programs developed and designed to watch and play sports events.

Demand traction is strengthened mainly with organizations that use sport tourism to build more solid relationships and provide a unique experience to their customers. Some corporations even consider it to reward their employees, but the most important thing is that organizations opt for sports hospitality to increase awareness of their brand in the process. Companies also offer the opportunity to adapt the event to meet the needs of the assumption.

There are several options that are offered, for example corporate stages, in which a totally independent space is reserved for the company during the entire season of a sport. As a result, a corporate office will make customers feel more pampered and important, building more reliable business relationships. This option is more suitable for watching a football match or a race event, etc. Another option is the VIP treatment and travel. This option allows the client to enter places that he would not normally be able to enter, such as Formula One pit arenas or a VIP seat in MMA. This option allows customers to access places they would normally not be able to access.
Choosing to celebrate a sporting event or witnessing it in some heritage place or traditional también is a good option for the sports hostel. For example, the Camp Nou stadium in Spain is a heritage site for all football fans. In the same way, seeing or organizing a sporting event at Wimbledon for customers is also an option sought.

The market is segmented by type of sport (football, American football, baseball, tennis, balloncesto, others), by geography (America, Europe, Middle East and Africa, Asia-Pacific). The market is also estimated more by geography and by type of sport.

Europe, the Middle East and Africa are expected to gain greater market share during the forecast period due to the immense number of sporting events taking place in the region. The region is made up of countries that are immensely populated by sports enthusiasts, regardless of their age group, class or race.

According to the preliminary investigation, Europe is also the witness of many important sporting events. The 2022 FIFA World Cup, which will be held in Qatar, will give a strong global boost. Therefore, the deportiva hostelería will offer several opportunities for growth in the coming years in the region.

The Asia-Pacific region is expected to bear the highest CAGR
The population of the region has been a test of an important growth of the available rent and the entrance of international companies to the market. With the growing need for customer retention, brand awareness has been the main priority for organizations in the region. In addition, Asia-Pacific will testify to the celebration of many sporting events, including the first Cricket World Cup in India in 2021. Therefore, the sports hospitality market in the region will testify to faster growth.


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