Global Sports Tourism Market Set to Rise at 35.0% CAGR, from 2018 to 2024

The global sports tourism market is expected to grow at a CAGR of 35.0% during the forecast period. The global sports tourism is one of the most emerging sectors in tourism industry with decent growth rate in past two decades. Tourism sector is continuously evolving however, there is now a significant transformation in demand and traveler expectation. Nowadays, segmenting in an innovative way means aborting the typical pre-defined schemes, identical and generalist, trips with all the tourists doing same thing within a time period. On the other hand, tailor-made/custom packages are more trustworthy and chosen for sports travels. 

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Market Segmentation

Insight by Types

On the basis of type, the market is bifurcated into hard sports tourism and soft sports tourism. Among these types, hard sports tourism segment captures largest market share in 2018 and is also expected to grow at fastest rate during the forecast period, owing to the number of people participating at a competitive sport event. These kinds of events act as a motivation to the viewers and attract large number of visitors to the events.

Insight by Sport Type

On the basis of sports type, the market is subdivided into adventure, basketball, cricket, football, golf, hockey, motorsports, rugby, tennis, winter sports, and other sports. Among these football and adventure accounted for the foremost share in the sports tourism market with being played across the globe in almost all the countries at large and small scale.

Insight by Destination 

On the basis of destination, the market is subdivided into domestic and international. Of both the segments, the international destination segment accounted for a maximum share, owing to large number of international tournaments organized globally with huge investment supporting the growth of tourism sector.

Insight by End-User

On the basis of end-user, the market is bifurcated into individual & group and institution. Individual & group is expected to account the highest market share in current year and is expected to grow at fastest rate large number of travelers travelling as a solo participant or audience with sports as reason to travel.

Industry Dynamics

Industry Trends

There is a drastic growth in the number of inter-country and intra-country sports league in past few decades. These leagues are watched by not only the domestic audience but is source of attraction for international viewers as well. The trend is going to grow more during the forecast period.  

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Competitive Insight

Key players in the in the sports tourism market includes some of the major tourism companies who offers pre-defined and tailor-made packages for individual and group. Apart from this, the sector is a gigantic intercontinental business attracting investment, bringing political interest, media attention and millions of traveling spectators and participants. Therefore, sport is large business helping some of the economics in growing by organizing sports events in their country.

Some of the key players operating in the sports tourism market are BAC Sports, Club Europe Holidays Ltd., Gullivers Sports Travel Limited, Inspiresport, MATCH Hospitality, QuintEvents, Sports Travel & Hospitality Group, THG Sports, Unique Sports Travel Limited, and Victory Sports Tours.

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