Sports tourism to reach a valuation of nearly $2 billion by 2030

16-02-24

The global sports tourism market size was valued at US$323,420.0 million in 2020, and is projected to reach US$1,803,704.0 million by 2030, registering a CAGR of 16.1% from 2021 to 2030

Sports tourism is defined as travel that includes watching or participating in a sporting event outside the tourist's usual environment. 

Traveling from one region, country or state to another to attend a sporting event or match is known as sports tourism. Although sports tourism has not always been very popular, the number of people attending sporting events has increased dramatically in the last decade. 

People now travel long distances to attend their favorite events, which has fueled the sudden rise in popularity of sports tourism. There are three types of sports tourism: sports event tourism, celebrity and nostalgia sports tourism, and active sports tourism.

Sports tourism has benefited people of all ages, regardless of socioeconomic status or background. Sport is a tourism industry investment that translates into effective economic growth. It stimulates economic growth by providing a variety of accommodation options, such as hotels, restaurants and retail outlets. 

In cities or towns where sporting events are held, efforts are made to bring about improvements in various areas that can effectively contribute to facilitating visitor visits.

The global sports tourism sector is experiencing growth as the number of sporting events held around the world increases. To increase spectator participation, new tournaments are being held at existing venues and new venues are being built for existing tournaments to expand the reach and appeal of sports. 

The increase in sporting events will help the tourism industry attract more tourists to sporting venues, which will ultimately accelerate future demand for hotel and tourism services. 

The increase in the number of sporting events will help attract more tourists to sports venues, leading to the expansion of the sports tourism industry. The increasing number of sporting events held worldwide will drive the global sports tourism market.

According to the sports tourism market trends, by product, the soccer/football segment contributed the highest revenue in 2020, owing to the huge popularity and fondness for soccer among the global population. By type, the domestic segment held the largest market share. 

Government development policies and large investments in sports infrastructure, such as playing fields, stadiums and sports clubs, have contributed significantly to the growth of the domestic segment. 

By category, the passive segment captured the largest share of the sports tourism market due to the increase in sporting activities and events in several countries.

With the increase in the number of sports tourists, there is a greater demand for seats at sports venues around the world. As more visitors can be accommodated at sports venues, the increased seating capacity translates into higher ticket revenues. Increased ticket and sports package revenues will contribute to the growth of the sports tourism industry. 

Many sports organizations and events are striving to expand their capacity to accommodate sports fans. On the other hand, lack of financial support for franchised teams may lead to cancellation of events, hurting the sports tourism market and acting as a restraining factor for the global sports tourism market.

The increase in the number of fan zones is expected to become one of the major trends in the market. Sports industry stakeholders are focusing on reaching a wider audience in order to showcase tournaments and expand their reach. This is advantageous for the sports tourism industry. 

More and more sporting events are emphasizing the creation of official fan zones. These fan zones can be established in the same region or city that hosts the sporting event, or in cities and regions other than the venue.