The Sports Market in Croatia has seen moderate growth, with minimal decline in the Cricket sub-market. Factors such as limited media coverage and high ticket prices may be impacting the overall market. However, the games popularity, convenience of online ticket sales, and increased health awareness among consumers could drive future growth.
Customer preferences:
The Cricket Market within the Sports Market in Croatia has seen a rise in popularity among younger demographics, thanks to the introduction of shorter and more fast-paced formats such as T20 and The Hundred. With the increased focus on entertainment and excitement, there has been a surge in demand for enhanced viewing experiences, including virtual reality and 360-degree immersive options. This trend is a reflection of the shift towards more interactive and engaging forms of entertainment in the digital age.
Trends in the market: In Croatia, the Cricket Market is experiencing a surge in popularity, with more people joining clubs and participating in local tournaments. This trend is expected to continue as the Croatian Cricket Association receives more funding and support from the government. The significance of this trend is two-fold - it showcases the growing interest in non-traditional sports in the country and presents opportunities for companies to tap into the market through sponsorships and partnerships. Additionally, the growth of the Cricket Market in Croatia could also have positive implications for the countrys tourism industry, as it opens up possibilities for hosting international cricket events. Cricket equipment manufacturers can also benefit from this trend by targeting the growing number of cricket enthusiasts in Croatia.
Local special circumstances: In Croatia, cricket has gained popularity among tourists and expats from countries where the sport is widely followed, such as the United Kingdom and India. This has led to the establishment of local cricket clubs and tournaments, creating a niche market for equipment and coaching services. Moreover, the warm climate and beautiful outdoor venues in Croatia make it an appealing destination for international cricket players and teams. These unique geographical and cultural factors have greatly influenced the growth and development of the Cricket Market in Croatia, setting it apart from other markets. Additionally, the countrys regulatory environment, with a relatively low cost of doing business and government support for sports, has also contributed to the markets growth and stability. This combination of factors has created a promising market for cricket in Croatia, with potential for further expansion in the future.
Underlying macroeconomic factors: The growth of the Cricket Market within the Sports Market is influenced by macroeconomic factors such as consumer spending, government funding, and infrastructure development. Countries with higher levels of economic stability and government support tend to have stronger cricket markets, as they are able to invest in facilities, teams, and fan engagement. On the other hand, countries with economic instability and limited infrastructure development may struggle to sustain a thriving cricket market. Additionally, global economic shifts and fluctuations in exchange rates can also impact the performance of the cricket market, as they can affect the cost of equipment, travel expenses, and international player contracts.
Data coverage:
The data encompasses B2C and B2B revenues. Figures are based on media spending, merchandise spending, and ticket spending. All monetary figures for merchandise and tickets refer to consumer spending on goods or tickets 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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