Event Tickets - Angola

Angola

Revenue in the Event Tickets market is projected to reach US$32.35m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 9.76%, resulting in a projected market volume of US$46.95m by 2028.
The Sport Events market has a projected market volume of US$20.88m in 2024.
In global comparison, most revenue will be generated in the United States (US$36,260.00m in 2024).
The average revenue per user (ARPU) in the Event Tickets market is projected to amount to US$12.98 in 2024.
In the Event Tickets market, the number of users is expected to amount to 3.3m users by 2028.
User penetration in the Event Tickets market will be at 6.7% in 2024.

Key regions: Germany, India, China, Europe, Japan

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Analyst Opinion

The Event Tickets market in Angola is experiencing significant growth and development in recent years.

Customer preferences: Angolan customers have shown a strong preference for attending live events and entertainment activities. This includes concerts, sporting events, theater performances, and festivals. The desire to experience live entertainment has led to an increased demand for event tickets in the country. Additionally, customers in Angola are increasingly using online platforms to purchase tickets, as it offers convenience and a wide range of options.

Trends in the market: One of the key trends in the Event Tickets market in Angola is the growth of international events and artists visiting the country. This has led to a surge in demand for tickets, as Angolan customers are eager to experience world-class entertainment. The availability of international events has also contributed to the diversification of the market, with customers having a wider range of options to choose from. Another trend in the market is the rise of local events and artists. Angola has a rich cultural heritage, and there is a growing appreciation for local talent. This has resulted in an increase in the number of local events, such as music concerts and theater performances. Customers are showing a strong interest in supporting and attending these local events, further driving the demand for event tickets.

Local special circumstances: Angola has experienced significant economic growth in recent years, which has had a positive impact on the Event Tickets market. As disposable incomes have increased, customers have more money to spend on entertainment activities, including purchasing event tickets. This has created a favorable environment for the growth of the market. Furthermore, Angola has a young and vibrant population, with a high percentage of youth. This demographic is known for their interest in live events and entertainment, contributing to the overall demand for event tickets. The young population's preference for attending events and their willingness to spend on experiences have been key drivers of the market's growth.

Underlying macroeconomic factors: The growth of the Event Tickets market in Angola is also influenced by underlying macroeconomic factors. The country has made significant progress in terms of political stability and economic reforms, which has attracted foreign investment and increased consumer confidence. This has had a positive impact on the overall economy, leading to increased spending on entertainment activities, including event tickets. Furthermore, the government of Angola has recognized the importance of the entertainment industry and has taken steps to support its growth. This includes investing in infrastructure for hosting events and promoting Angola as a destination for international artists and events. These initiatives have further boosted the Event Tickets market in the country. In conclusion, the Event Tickets market in Angola is experiencing significant growth and development due to customer preferences for live entertainment, the rise of international and local events, favorable local circumstances, and underlying macroeconomic factors. As the market continues to evolve, it is expected to offer more diverse and exciting options for customers in Angola.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. 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 and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.