Sports Tourism Market to Grow by $559.7 Billion thru 2027

The sports tourism market size is set to grow by USD 559.75 billion between 2022 and 2027 and register a CAGR of 12.88%, according to Technavio's latest market research report estimates.

To help businesses improve their market position, the sports tourism market provides a detailed analysis of around 15+ vendors operating in the market. Some of these vendors include ATPI Ltd., BAC Sports Ltd., DTB Sports Management Ltd., Fanatic Sports Pvt. Ltd., Gala Management Services Ltd., Global Sports Travel and Tours Pty Ltd., International Sports Management Inc., ITC Travel Group, JTB India Pvt. Ltd., KNT CT Holdings, Match Hospitality AG, QuintEvents LLC, Sports Tours International Ltd., Sports Travel and Hospitality Group Ltd., Sportsnet Corp. Pty Ltd., The Hospitality Group, Thomas Cook India Ltd., travelOsports, Veda Sports Marketing Pvt. Ltd., and Victory Sports Tours.

With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by the way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Technavio offers an up-to-date analysis of the current global market scenario and the overall market environment. 

Vendor Offerings

• ATPI Ltd.: The company offers sports tourism services such as management of travel, advice and consultancy, and efficient travel booking. 
• BAC Sports Ltd.: The company is a pure play sports travel and hospitality company and provides packages for individuals, corporates, concierge, and incentive agencies, as well as arranges travel and logistics for the England Football Media.
• DTB Sports Management Ltd.:The company offers a wide range of client entertainment solutions, including hospitality, ticket options, and bespoke event management. In various fields of sports, music, and arts, various special events, bespoke events, etc. 

Sports Tourism Market 2023-2027: Segmentation

• Type 
  • Domestic Sports Tourism
  • International Sports Tourism
• Product 
  • Soccer Tourism
  • Cricket Tourism
  • Tennis Tourism
  • Others
• Geography 
  • Europe
  • APAC
  • North America
  • South America
  • Middle East And Africa

Market share growth by the domestic sports tourism segment will be significant during the forecast period. Domestic sports tourism involves tourists traveling as participants or spectators at various sporting events held in their respective countries. Numerous national sports leagues are held around the world. Due to the easy availability of intra-region transportation, these sports leagues have a higher proportion of domestic tourists and the comfort of using a uniform regional or national currency, and familiarity with the culture and languages. A rising number of sports teams are supporting the movement of fans between different venues. All of these factors will fuel the growth of the market during the forecast period.

What's New?

• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession 
• Global competitiveness and key competitor positions 
• Market presence across multiple geographical footprints

Key Driver- The increasing number of sporting events is a major factor driving the growth of the global sports tourism market. 

Major Trend - The development of VR technology has the potential to fuel the growth of the global sports tourism market. 

Significant Challenge- Sports tourism relies on the hosting of events that attract tourists, but these events require significant financial backing that impedes the growth of the market. The costs associated with hosting an event have raised in recent years, including marketing, player and staff costs, and infrastructure costs. While the sale of franchises in sports leagues can help attract investor support, a lack of financial support for franchise teams can lead to event cancellations and negatively impact the sports tourism market. The cancellation of events due to financial constraints faced by franchise teams is a significant challenge that impedes market growth during the forecast period.

Sports Tourism Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist sports tourism market growth during the next five years
• Estimation of the sports tourism market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the sports tourism market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of sports tourism market vendors.