As per the current market research conducted by the CMI Team, the global Sports Tourism Market size is expected to record a CAGR of 7.2% from 2023 to 2032. In 2023, the market size is projected to reach a valuation of USD 441.9 Billion. By 2032, the valuation is anticipated to reach USD 826.2 Billion.
Sports Tourism Market: Growth Factors and Dynamics
- Globalization of Sports Events: The globalization of major sporting events, such as the Olympics, FIFA World Cup, and various international tournaments, has significantly contributed to the growth of sports tourism. As these events draw participants and spectators from around the world, host cities and countries experience an influx of visitors, boosting tourism and economic activity.
- Rise of Adventure and Experiential Tourism: The increasing popularity of adventure and experiential tourism has led to a surge in sports tourism. Travelers seek unique and active experiences, such as participating in marathons, cycling tours, and adventure sports. Destinations that offer a combination of sports activities and scenic landscapes are gaining traction among adventure-seeking tourists.
- Technology and Digital Media Impact: The accessibility of sports information through digital media platforms has fueled interest and engagement in sports tourism. Fans can easily access event schedules, purchase tickets, and plan trips online. Social media plays a significant role in promoting sports tourism by creating a sense of community among fans and sharing travel experiences, influencing others to attend events.
- Health and Wellness Trends: The growing focus on health and wellness has led to an increase in sports tourism, with travelers seeking destinations that offer opportunities for physical activities, relaxation, and well-being. Sports events, fitness retreats, and wellness-focused trips contribute to the integration of sports into a holistic travel experience.
- Collaboration Between Tourism and Sports Industries: Collaborations between tourism boards, sports organizations, and local governments have become pivotal in driving sports tourism growth. Strategic partnerships lead to the development of sports infrastructure, promotion of events, and effective destination marketing. Cities and regions investing in sports facilities often experience long-term economic benefits through increased tourism.
- Emergence of Niche and Specialized Sports Tourism: Niche sports and specialized events, such as esports tournaments, extreme sports competitions, and yoga retreats, have emerged as significant contributors to sports tourism. These unique experiences attract dedicated fan bases and participants, creating opportunities for destinations to tap into specific markets and diversify their tourism offerings.
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Sports Tourism Market: Partnership and Acquisitions
- In 2021, In a significant development, GetYourGuide, the German tours and activities platform, secured a major partnership with Expedia Group, dealing a blow to Viator. Positions GetYourGuide is a key player in the tours and activities market, expanding its reach through the global network of Expedia Group.
- In 2023, TProfile collaborated with G Adventures, enriching its content for travel agents. The partnership enables TProfile to integrate G Adventures’ diverse portfolio of global tours, spanning from Antarctic expeditions to hiking adventures in Peru, into its dynamic, real-time content, providing an extended range of offerings to its network of travel agents.
Sports Tourism Market: COVID-19 Analysis
The COVID-19 pandemic has had a significant impact on the Sports Tourism Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:
- Event Cancellations and Postponements: The COVID-19 pandemic led to widespread cancellations and postponements of major sporting events worldwide. This had a direct and immediate impact on sports tourism, as fans were unable to attend games, tournaments, and competitions. The absence of live sports events resulted in a significant decline in travel associated with sports tourism.
- Travel Restrictions and Safety Concerns: Travel restrictions, lockdowns, and safety concerns during the pandemic restricted people’s ability and willingness to engage in sports tourism. The fear of contracting the virus, coupled with government-imposed travel limitations, disrupted the normal flow of sports-related travel, affecting both participant and spectator segments of the sports tourism market.
- Adoption of Health and Safety Protocols: The recovery of the sports tourism market involves implementing and communicating robust health and safety protocols. This includes stringent measures at sports venues, accommodation facilities, and transportation services to reassure travelers about their safety. Such measures build confidence among tourists and facilitate the gradual return of sports-related travel.
- Digital Transformation and Contactless Solutions: Embracing digital technologies and contactless solutions is crucial for the recovery of sports tourism. Ticketing, event information, and travel arrangements can be streamlined through mobile apps and online platforms, minimizing physical interactions. Digital innovation enhances the overall fan and participant experience, making it more resilient to future disruptions.
List of the prominent players in the Sports Tourism Market:
- Expedia Group
- Booking Holdings Inc.
- com Group
- Flight Centre Travel Group
- Carlson Wagonlit Travel (CWT)
- TUI Group
- Fareportal
- ATPI Group
- HRG North America
- FROSCH
- Kuoni Global Travel Services
- EF Education First
- Golfasian Co. Ltd.
- Roadtrips Inc.
- Sports Travel & Tours
- Others
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