LONDON--(BUSINESS WIRE)--The global sports tourism market size is poised to grow by USD 6,120 billion during 2019-2023, according to a new report by Technavio, progressing at a CAGR of 36% during the forecast period.
Read the 144-page research report with TOC on "Sports Tourism Market Analysis Report by product (soccer tourism, cricket tourism, tennis tourism, and others), type (domestic and international sports tourism), category (passive and active sports tourism), and geography (the Americas, APAC, and EMEA) 2019 - 2023" at:
https://www.technavio.com/report/global-sports-tourism-market-industry-analysis
The market is driven by the increasing number of sports events. Also, the growing government support for sports tourism is anticipated to further boost the growth of the market during the forecast period.
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With an increase in the number of national and international tournaments being planned, the sports tourism market will witness considerable growth through 2023. The new T20 league that will be organized by Cricket South Africa and the Pro Volleyball League that will be organized by the Volleyball Federation of India are some of the major events that will be conducted during the forecast period. Due to this rise in the number of sporting events, there will be an increase in the inflow of tourists to sporting destinations, driving the growth of the sports tourism industry.
Furthermore, various countries such as Russia, the UK, Germany, India, China, the US, Spain, and Canada are focusing on sports to promote tourism. Sports tourism caters to various tourists traveling to other regions to participate in and witness sports events. The tourists also invest in products and services such as transport, accommodation, food and beverages, and souvenirs. This has a favorable impact on the economy, as sports tourism promotes the growth of the tourism supply chain, leading to GDP growth of the country. As a result, several governments are focusing on promoting sports tourism to enhance the revenue from their tourism industry, thereby driving the overall growth of the market.
To find out more about Sports Tourism Market Research 2019-2023, https://www.technavio.com/talk-to-us?report=IRTNTR30607
The report includes detailed profiles of the leading companies & prominent vendors of the market:
- BAC Sports
- MATCH Hospitality
- QuintEvents
- Sports Travel & Hospitality Group
- THG Sports
Market Segmentation by Category and Product Types:
The Sports Tourism Market can be broadly categorized into the following product segment:
- Soccer tourism
- Cricket tourism
- Tennis tourism
- Others
Key Regions for the Sports Tourism Market:
Featuring a breakdown of region-wise market shares until 2019.
- Americas
- APAC
- EMEA
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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