The Basketball Ticket Sales Market in Ethiopia has seen slow growth due to factors such as limited access to technology and low awareness of online services among consumers. Despite this, the market is expected to grow in coming years as the popularity of basketball rises in the country.
Customer preferences:
With a growing interest in healthy lifestyles and physical fitness, the demand for basketball tickets in Ethiopia has seen a significant rise. This can be attributed to the increasing popularity of the sport among younger generations, fueled by the rise of social media and access to international basketball tournaments. Additionally, there is a growing trend towards attending live sporting events as a form of entertainment and community gathering, making basketball games a highly sought-after experience among consumers. This shift towards live sports events can also be connected to the growing economy and disposable income of Ethiopias middle class, as well as the cultural significance of sports in the country.
Trends in the market: In Ethiopia, the demand for basketball has been steadily increasing in recent years, leading to a rise in basketball ticket sales. This trend is expected to continue as the country continues to invest in its sports infrastructure and as the popularity of basketball grows among the youth. This trend is significant for industry stakeholders, as it presents new opportunities for revenue and growth in the basketball market. However, with the increasing demand for tickets, there may also be a need for better ticketing systems and strategies to handle the influx of potential customers. Additionally, this trend may also attract more investors and sponsors to the basketball market in Ethiopia, ultimately benefiting the overall Sports market in the country.
Local special circumstances: In Ethiopia, basketball is gaining popularity as a sport due to its strength and agility elements aligning with traditional values of physical prowess. However, the market for basketball ticket sales faces challenges due to limited internet access, low purchasing power, and a nascent Sports market. These factors create a unique market dynamic, with ticket sales often dependent on physical ticket outlets and grassroots marketing to reach potential buyers. Additionally, cultural barriers such as a preference for traditional Ethiopian sports can impact demand for basketball tickets. Regulatory infrastructure, including licensing and tax policies for sports events, also affects ticket prices and profitability for basketball event organizers.
Underlying macroeconomic factors:
The Basketball Ticket Sales Market of the Basketball Market within the Sports Market in Ethiopia is influenced by several macroeconomic factors. These include the overall economic health of the country, which has been experiencing steady growth in recent years. Additionally, the governments fiscal policies play a significant role in promoting economic growth and stability, thus influencing the purchasing power and disposable income of potential consumers. Other factors such as technological advancements and infrastructure development also play a crucial role in shaping the market, as they affect the ease of access and availability of basketball tickets. Moreover, the sizeable young and urban population in Ethiopia, coupled with the increasing popularity of basketball as a sport, presents a significant opportunity for growth in the Basketball Ticket Sales Market.
Data coverage:
The data encompasses B2C revenues. Figures are based on ticket spending. All monetary figures refer to consumer spending on goods in the respective segment, which can be online and offline.Modeling approach / Market size:
Market sizes are determined through a combination of bottom-up and top-down approaches, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per ticket, price on sport goods). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, number of internet users, and internet consumption. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function or linear forecasting, as it fits the development of either strong growing markets or more sophistacted and saturated markets, such as soccer in Europe.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). We also account for the different cycles of international tournaments, such as world cups or continent cups. Consumer Insights data is reweighted for representativeness.
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