Global Sports Tourism Market Projected to Reach $1.8 Trillion by 2030
The sports tourism market is set to reach $1.8 trillion by 2030, growing at 16.1% CAGR from $323.42 billion in 2020. Key factors include an increase in sports events, venue expansion, and fan engagement. The market includes sports event tourism, celebrity tourism, and active tourism, with football as the leading revenue generator. Regional growth is notable in Europe, Asia-Pacific, and North America, while domestic tourism is outpacing international tourism. The industry is recovering post-COVID-19 with significant investments and new trends emerging.
The global sports tourism market, valued at $323.42 billion in 2020, is projected to grow significantly, reaching $1.8 trillion by 2030, with a compound annual growth rate (CAGR) of 16.1%. This growth is driven by increased popularity of sporting events, expansion of venues, and heightened spectator engagement. Sports tourism includes travel for attending or participating in sporting events, representing a vital segment of global tourism and economic development.
Sports tourism is composed of three primary categories: sports event tourism, celebrity and nostalgia sports tourism, and active sports tourism. Sports event tourism focuses on travel to notable events like the Olympics and FIFA World Cup. Celebrity and nostalgia tourism attracts fans of prominent athletes and teams, while active tourism promotes personal participation in various sports activities.
Football, particularly global tournaments such as the FIFA World Cup and UEFA Champions League, remains the leading sport in generating revenue within the sports tourism sector. Europe is the largest contributor, with a market share increasing from $119.02 billion in 2020 to projected revenue of $624.08 billion by 2030 at a CAGR of 15.7%. Countries like Spain, Germany, and the UK are key players in driving this growth.
Other regions, including Asia-Pacific, are rapidly emerging in the sports tourism market, mainly due to the growing popularity of cricket, motorsport, and tennis in nations like India, Japan, and China. North America continues to thrive with sports such as basketball and American football contributing to its market dynamics.
The emergence of fan zones has transformed the spectator experience, allowing fans without tickets to engage with major sporting events in specially designated areas. This trend is expected to expand, fostering increased fan involvement and inclusivity around major competitions.
Domestic tourism has notably surpassed international sports tourism, with domestic events becoming the primary market contributor. Investments in local sports infrastructure and government policies have bolstered this segment. Countries focus on national and regional events to promote local tourism opportunities.
Passive sports tourism, where travelers observe rather than participate in events, has also grown significantly. Major global events such as the FIFA World Cup and the Summer Olympics attract millions of tourists each year, enhancing the overall market.
The COVID-19 pandemic severely impacted global tourism, including sports tourism, causing event cancellations and travel restrictions that hurt the sector considerably. However, as restrictions ease and events resume, there is renewed optimism for recovery within the sports tourism landscape.
Key players driving growth in the sports tourism market include BAC Sports, QuintEvents, Sports Travel & Hospitality Group, MATCH Hospitality, THG Sports, and Gullivers Sports Travel. These companies are pivotal in organizing events and offering tailored travel and hospitality packages.
As the sports tourism industry evolves, rising demand for travel services will create opportunities for stakeholders, such as event organizers and hoteliers, to capitalize on this growth. The future looks promising, with the market poised to significantly impact global economic recovery, aiming for an estimated size of $1.8 trillion by 2030.
Original Source: www.travelandtourworld.com
