The sports tourism market size was valued at USD 544.38 billion in 2023 and is expected to be worth USD 618.69 billion in 2024. The market is projected to reach USD 2,089.58 billion by 2032, recording a CAGR of 16.43% during the forecast period.
Sports tourism refers to a tourist’s travel experiences, wherein they travel to different countries across the world to either watch their favorite sports event as a spectator or participate in it. Both, the athletes traveling to other countries to participate in sports tournaments and sports enthusiasts buying tickets to watch these events are a part of sports tourism.
However, the COVID-19 outbreak restricted the market’s growth considerably due to a major decline in sporting events owing to lockdowns and traveling restrictions. This eventually caused a slump in this form of tourism in different countries.
Fortune Business Insights™ displays this information in a report titled, "Sports Tourism Market, 2024-2032."
Information Source: https://www.fortunebusinessinsights.com/sports-tourism-market-110568
Segmentation:
Increasing Interest in Basketball and Badminton Helped Others Segment Dominate Market
Based on sports type, the market is segmented into tennis, cricket, football/soccer, and others. The others segment holds a major market share due to rising interest in basketball and badminton in countries, such as Germany, India, the U.K., and China.
Increased Frequency of Traveling to Watch Sports Events Fueled Popularity of Passive Tourism
Based on sports tourism type, the market is segmented into active sports tourism, passive sports tourism, and nostalgia sports tourism. The passive tourism segment might dominate the global sports tourism market share as an increasing number of people are traveling to different countries to watch their favorite sports events.
Rising Government Support for National Sports Tournaments Accelerated Influx of Domestic Tourists
Based on tourist type, the market is divided into domestic and international. The domestic segment has captured the largest market share as governments across the world are supporting the domestic sports industry through various initiatives.
With respect to region, the market covers North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Top Company in the Sports Tourism Market: