Sports Tourism Market Outlook
According to a new report by Expert Market Research titled “The Global Sports Tourism Market Size, Share, Analysis, Report and Forecast 2023-2028″ the sports tourism market reached a value of USD 521.76 billion in 2022. Aided by the growing interest in health and fitness, as well as the widespread appeal of international sports events, the market is projected to further grow at a CAGR of 16.80% between 2023 and 2028 to reach a value of USD 1314.51 billion by 2028.
Sports tourism refers to travel which involves either observing or participating in a sporting event while staying apart from the tourists’ usual environment. The sport can range from global events like the Olympic Games and the World Cup to local amateur competitions. This sector provides a unique blend of tourism and sports, offering multiple benefits including boosting local economies, promoting cultural exchange, and encouraging fitness.
The increasing interest in health and fitness is driving the global sports tourism market growth. With the rising awareness of the physical and mental benefits of an active lifestyle, there has been a significant shift towards fitness and sports. This shift is fuelling the trend of travelling to participate in marathons, yoga retreats, and other sports events, thereby propelling the market.
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The growing appeal of international sports events also plays a substantial role in fuelling the sports tourism market development. Major sports events like the Olympics, World Cup, and Grand Slam tournaments attract millions of viewers worldwide. These events not only appeal to hardcore sports fans but also to casual viewers, who often travel to the host countries to experience the spectacle, contributing significantly to the sports tourism sector.
Moreover, the emerging trend of adventure sports and exotic location marathons is contributing to sports tourism market expansion. Enthusiasts are increasingly seeking unique and adrenaline-fueled experiences, leading to a rise in adventure sports tourism. Likewise, marathons held in unique locales are attracting runners who seek a blend of fitness and travel.
Additionally, the integration of sports tourism with cultural tourism is garnering attention. Sports events often provide an opportunity for travellers to explore the local culture, food, and traditions of the host destination, adding another dimension to their travel experience and further boosting the sports tourism market demand.
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Furthermore, the proliferation of digital media and easy access to information have made it simpler for tourists to discover, plan, and book sports tourism trips. As a result, the market is likely to witness significant growth in the coming years, with an increasing number of individuals exploring sports tourism opportunities.
Sports Tourism Market Segmentation
The market can be divided based on type, sports type, tourism type, and region.
Market Breakup by Type
- Domestic
- International
Market Breakup by Sports Type
- Soccer/Football
- Cricket
- Basketball
- Tennis
- Hockey
- Others
Market Breakup by Tourism Type
- Active
- Passive
- Nostalgia
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global sports tourism companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Navigo Tours LLC
- BAC Sport Limited
- DreamTeam Italy srl
- Destination Sport Group Limited
- Gullivers Sports Travel Ltd.
- AllSports International
- Australian Sports Tours
- Sportsnet Corporation Pty Ltd
- DTB Sports Hospitality and Event Management Limited
- Premium Sport Tours Pty. Ltd.
- XLSportsTours
- TravelOsports
- Others
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