The Sports market in Oman has seen slow growth due to factors such as limited investment, lack of infrastructure, and a small population. However, with the increasing popularity of soccer and basketball globally, there has been a gradual rise in the interest in these sports in Oman. Additionally, the governments focus on promoting healthy lifestyles and the convenience of online ticketing for sports events have also contributed to the modest growth in the Sports market. Overall, the Sports market in Oman is expected to continue growing steadily in the coming years.
Customer preferences: In recent years, there has been a noticeable increase in youth participation in sports and physical activities, as parents become more conscious of the benefits of an active lifestyle for their children. This trend is also supported by government initiatives promoting healthy lifestyles and increased investment in sports infrastructure. As a result, there has been a growing demand for inclusive sports programs and facilities, catering to diverse demographics and special needs. This highlights a shift towards promoting diversity and accessibility in the Sports market, reflecting changing societal attitudes and values.
Trends in the market: In Oman, the Sports Market is currently experiencing a rise in the popularity of e-sports. With the increase in internet penetration and availability of advanced gaming technology, online gaming has emerged as a promising sector with potential for growth. This has led to the establishment of gaming cafes and the organization of e-sports tournaments. Such trends signify a shift in consumer behavior towards digital entertainment and present opportunities for industry stakeholders to capitalize on this market. Moreover, the incorporation of virtual reality technology in e-sports could further enhance user experience and provide a competitive edge for businesses in the industry.
Local special circumstances: In Oman, the Sports Market is heavily influenced by the countrys geographical location and cultural traditions. Being a desert nation, outdoor sports such as camel racing and horse riding are deeply embedded in Omani culture. Additionally, the governments support for sports development, including building world-class sports facilities like the Sultan Qaboos Sports Complex, has led to a surge in sporting events and activities in the country. Furthermore, Omans regulations on sports betting and sponsorships have facilitated a vibrant Sports market that caters to both locals and tourists, making it a unique and promising market for sports enthusiasts.
Underlying macroeconomic factors: The Sports market in Oman is greatly influenced by macroeconomic factors such as the countrys overall economic health, fiscal policies, and global economic trends. The growth of the Sports market is highly dependent on the availability of disposable income and consumer spending patterns. Countries with a stable economy and high levels of disposable income, like Oman, have a higher potential for growth in the Sports market. Additionally, investments in infrastructure, facilities, and technological advancements play a crucial role in boosting the market. Factors such as tourism, international events, and government initiatives also contribute significantly to the development of the Sports market in Oman.
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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