Sports Tourism Market: Global Industry Analysis and Forecast (2023-2029)Trends, Statistics, Dynamics,Segmentation by Product, Type, Category,and Region.

Global Sports Tourism Market size was valued at USD 581Bn. in 2022 and the total Sports Tourism revenue is expected to grow by 17.3 % from 2023 to 2029, reaching nearly USD 1775 Bn.
Sports Tourism Market Overview:- 
Sports tourism is traveling from one location to another to be an audience member at a sports tournament.There are main two events that attract the most tourists worldwide the Olympics and the FIFA World Cup. At the community level, small business owners and operators run hotels and restaurants or distribute specialized tourism products from t-shirts to trail rides in the Sports Tourism Market.Entrepreneurs involved in Sports Tourism Market are necessarily very focused on their activity, although they often get together at the community level to form a community tourism organization, either as a stand-alone body or as part of an organization such as the Chamber of Commerce or municipal government.

The rising growth in sports Tourism across the globe is projected to drive the Sports Tourism market growth during the forecast period Moreover, significant growth in advertisement and offers provided by sports tour companies plays a vital role in increasing tourism to a particular region or a sport that will further contribute to the growth during the forecast period.Sports, travel, and tourism are all interrelated. Sports tourism is now a well-established niche market in the travel industry, whether it is professional athletes or officials attending tournaments and events or fans flying to a country to witness a global sports league. In November 2022,  inspiring sport, the top UK provider of young sports development tours, will be a partner in an exclusive new collaboration with Cricket Scotland. inspiring sport has recently launched The R66T Festival of Cricket and The R66T Dubai Cup, as well as offering domestic tours to Lancashire Cricket. These reasons are expected to exhibit the highest growth rate duringthe forecast period 2022-2029.


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Sports Tourism Market Dynamics :
Sports Tourism Market Drivers:-

Emerging Countries are investing in infrastructure to attract a customer 

Sports Tourism is one of the world’s fastest-expanding segments of the tourism market.The tourism industry is promptly growing. Many people prefer a short or long vacation to break the monotony of life. But, as a generation grows older, tourism shifts toward exploration. Traditional culture, values, cuisine, monuments, and lifestyles take fixed the interest of the generations, as they provide tourists with long-lasting experiences.Sports events are organized by a large number of people, which means they necessitate a significant investment. The youth sports tourism market is driven by travel teams, showcase events, and local use when not hosting tournaments. When properly planned, sports tourism facilities can improve local sports participation while producing millions of dollars in tourism spend. In fact, Sports Facilities Advisory has planned and helped to secure funding and public support for tournament venues that now produce more than $200 million annually in the overnight hotel, dining, and other tourism-related spending. These are visits and spending by players, parents, coaches, and recruiters who travel to a destination for the sports tournaments. Money that would not otherwise be in the communities where we have served. Organizers of sporting events frequently exhibit excessive commercialism and poor financial management, making poor strategic decisions about ticket prices and sponsors. Many developing countries, such as India, Germany, and Brazil, are investing in infrastructure to attract larger customers, which is expected to drive the global sports tourism market during the forecast period.

Sports Tourism Market Restraints:- 

Policy and hosting of sports tourism are restraints to the sports tourism market

Sports policies are formulated and used by sports governing bodies, governments, and sports clubs to propel their sporting activities in their countries. King and Herbold, thees and Philips assert that these policies are enacted to deal with a given problem or situation. Many countries across the world are successful with sports tourism policies that aid in the binding and hosting of events. Countries like Canada have come up with various policies that have made them host different international events that have not only given them international recognition but also made them make some milestones in terms of sports tourism. Sports tourism is affected due to environmental and changing economic conditions in many regions. In addition, rising prices of online tickets and high traveling charges during major sports events are some other factors expected to restrain revenue growth of the global sports tourism market during the forecast period.

 Sports Tourism Market Opportunity 

Advancement in  VR technology is an opportunity for the sports tourism market

The advancementof virtual reality is expected to exhibit the highest growth rate during the forecast period 2023-2029.  Virtual reality (VR) is the Virtual Reality (VR) is a computer-generated environment with scenes and objects that appear to be real, making the user feel they are immersed in their surroundings. This environment is seeming through a device known as a Virtual Reality headset or helmet. Pico launches the Pico Neo 3 headset, a competitor to the Oculus Quest 2 headset. The Chinese company ByteDance, which owns TikTok, acquired Pico in a push to diversify its business.Facebook (now Meta) plans to spend at least $10 billion this year on Facebook Reality Labs, its metaverse division tasked with creating AR and VR hardware, software, and content in 2021.Virtual Reality is one of the technologies with the highest projected potential for growth. Accordingto an MMR report investment in VR and AR will multiply 21-fold over the next four years, reaching 15.5 billion euros by 2022.
Sports Tourism Market Competitive Landscape:
The competitive landscape of the Sports Tourism market with many established and emerging companies. Competitive analysis and profiles of the major players in the seafood packaging markets are BAC Sports, Inspiresport, Gullivers Sports Travel Ltd, Dream Team Sports Tour, Navigo Sports Tour, LLC, Allsports Travel, Australian Sports Tours, Premium Sport Tours, La Vacanza Travel, XL Sports Tours, ATPI Ltd.The market is characterized by the presence of a few established players and new entrants. Many big players are increasing their focus on the growing trend of sports tourism. The key players are diversifying their service offerings to maintain market share. In November 2022, From January 2023, inspiring sport, the top UK provider of young sports development tours, will be a partner in an exclusive new collaboration with Cricket Scotland. The company has recently launched The R66T Festival of Cricket and The R66T Dubai Cup, as well as offering domestic tours to Lancashire Cricket. In September 2022, Gullivers Sports Travel, the Group Travel Specialist, announced a one-year partnership where Waratahs Alumni host four Sports travel tours during the Rugby World Cup in France featuring Darren Coleman, Phil Waugh, Tony Dempsey, and Ian Kennedy
Sports Tourism Market Segment Analysis:- 
Based on Product, The football segment dominated the segmental market share accounting for over 39.2% of the total revenues generated in 2022. The Football World Cup in Qatar boosted the revenues of sports tourism. Apart from this global event, football is majorly played at club levels throughout the world. Europe is the prominent region for club football with a maximum of the biggest clubs all situated in the region.

Football is played throughout the year with various leagues and champion cups. The sports tourism companies thus have to provide packages throughout the year. Following football, cricket has made significant progress in terms of revenue, most of which is from the Asia Pacific region.soccer stadiums. The initiatives include investments in the construction of new stadiums, the expansion of stadium capacity, and the rehabilitation of existing stadiums. India is the most prominent country in contributing revenues from cricket. Cricket tournament played in India has attracted over 100,000 individuals per match. Cricket is estimated to be the fastest-growing segment in the sports tourism market.



Based on the Type, The domestic sports tourism segment exhibited a gradual increase in market share and continued to grow during the forecast period.  Based on the type market is divided into two types Domestic and International. Many domestic sports leagues are held across the globe. These sports leagues have a higher proportion of domestic tourists due to the easy availability of intra-region transportation, the convenience of using a uniform regional or national currency, and familiarity with the culture and languages. An increasing number of sports teams are aiding the transportation of their fans across different venues. For instance, in Qatar, the government of Doha provides several transport options to fans when they arrive in the country, which include free shuttle buses, the Doha Metro, taxis and cab services, and dedicated bus and taxi lanes for fans. India hosts Pro Volleyball League and Indian Premiere League for Cricket matches in India. In addition, rising disposable income, growing population, improvement in infrastructure, and increasing investments and funding by the government for promotion and hosting of sports events The above factors will drive the growth of the market during the forecast period.



Based on the Category,The Passive tourism segment dominated the Sport Tourism Market during the forecast period 2023-2029. Based on the category market is classified into Passive Sports Tourism and Active Sports Tourism. Passive tourists can potentially give more to the sport than active participants. A passive sports tourist is someone who attends a sporting event but does not actively participate in it. They are onlookers or fans. Tourists that participate in passive Sports Tourism watch sports being played. This could be at a major athletic event (qualifying as sports event tourism), or it could simply be to support a family member or friend. The majority of passive sports visitors are fans. Passive tourism includes all the tourists who travel for watching a sport, event, or tournament. Passive is estimated to dominate the segment through the forecast period. An increase in revenues from active tourism is subject to the increasing number of tournaments as well as an increasing number of participants. For instance, in the upcoming FIFA WC in 2026, the tournament is planning to include 48 participating nations, unlike 32 participating nations in the previous tournaments. Still, the number of passive tourists will always be higher than active tourists. As a result, passive tourism is expected to exhibit the highest growth rate during the forecast period. 

Sports Tourism Market Region:

Asia Pacific has dominated the sports tourism market and is expected to grow during the forecast period. China and India are positively contributing to the growth. The growing sports events industry, rising per capita income, the growing middle-class population, and increasing disposable income are some of the factors contributing to the industry’s growth. the tourism industry of the Russian Federation today is one of the most promising sectors of our economy, with the Krasnodar region serving as a marketing strategy. In many situations, these vacation centers offer high-quality facilities and services to sports tourist example of the successful development of the tourism industry in the Russian Federation. The Krasnodar Region has recently become one of the most successful sports tourism regions, not only in Russia but in the whole world. The region has a high proportion of inward investment in the sports tourism sector; investors are offered the most innovative projects and new jobsare created. The Krasnodar region today has access to international tourism activities also, and  significant growth in the popularity of international sports events such as the Cricket World Cup and Tokyo Olympics is further expected to propel the market growth
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Sports Tourism Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2021
Market Size in 2022:
US $ 581 Bn.


Forecast Period 2023 to 2029 CAGR:
17.3 %
Market Size in 2029:
US $ 1775.26 Bn.


 Segments Covered:
by Product
1. Football
2. Cricket
3. Soccer
4. Others


by Type
1. Domestic
2. International


by Category
1. Active
2. Passive



Sports Tourism Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Sports Tourism Market Key Players:-
1. BAC Sports
2. Inspiresport
3. Gullivers Sports Travel Ltd
4. Dream Team Sports Tour
5. Navigo Sports Tour, LLC
6. Allsports Travel
7. Australian Sports Tours
8. Premium Sport Tours
9. La Vacanza Travel
10. XL Sports Tours
11. ATPI Ltd.
12. DTB Sports Management Ltd.
13. Fanatic Sports Pvt. Ltd.
14. Gala Management Services Ltd.
15. Global Sports Travel and Tours Pty Ltd.
16. International Sports Management Inc.
17. ITC Travel Group
18. JTB India Pvt. Ltd.
19. KNT CT Holdings
20. Match Hospitality AG
21. QuintEvents LLC
22. Sports Tours International Ltd.
23. Sports Travel and Hospitality Group Ltd.
24. Sportsnet Corp. Pty Ltd.
25. The Hospitality Group
26. Thomas Cook India Ltd.
27. Travel sports
28. Veda Sports Marketing Pvt. Ltd.
29. Victory Sports Tours

Frequently Asked Questions:

1] What segments are covered in the Sports Tourism Market report?
Ans. The segments covered in the Sports Tourism Marketreport are based on Product, Type, Category, and Region.

2] Which region is expected to hold the highest share of the Global Sports Tourism Market?
Ans. The North America region is expected to hold the highest share of the Sports Tourism Market.

3] What is the market size of the Global Sports Tourism Market by 2029?
Ans. The market size of the Sports Tourism Marketby 2029 is expected to reach US$ 1775 Bn.

4] What is the forecast period for the Global Sports Tourism Market?
Ans. The forecast period for the Sports Tourism Marketis 2023-2029.

5] What was the market size of the Sports Tourism Marketin 2022?
Ans. The market size of the Sports Tourism Marketin 2022 was valued at US$ 581 Bn.