The Event Tickets market in Bhutan is experiencing significant growth and development in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this positive trend. Customer preferences in Bhutan are shifting towards attending live events and experiences. With the increasing popularity of concerts, sports events, and cultural festivals, there is a growing demand for event tickets. Bhutanese consumers are seeking opportunities to participate in these events and create memorable experiences. This trend is in line with the global preference for experiential consumption, where individuals prioritize spending on experiences rather than material possessions. Several trends in the market contribute to the growth of the Event Tickets industry in Bhutan. Firstly, the rise of social media and online platforms has made it easier for event organizers to promote their events and sell tickets online. This convenience has attracted more consumers to purchase tickets online, leading to an increase in ticket sales. Additionally, the emergence of event ticketing platforms and mobile applications has made it more convenient for consumers to browse and purchase tickets, further driving the growth of the market. Local special circumstances in Bhutan also play a role in the development of the Event Tickets market. Bhutan is known for its rich cultural heritage and vibrant festivals. The annual Tshechu festivals, which showcase traditional Bhutanese dances and rituals, attract both domestic and international tourists. The demand for event tickets during these festivals is high, contributing to the overall growth of the market. Furthermore, Bhutan's growing tourism industry has also led to an increase in the number of tourists attending events and purchasing event tickets. Underlying macroeconomic factors are also driving the growth of the Event Tickets market in Bhutan. The country has experienced steady economic growth in recent years, leading to an increase in disposable income among the population. As a result, more individuals have the financial means to attend events and purchase event tickets. Additionally, the government's focus on promoting tourism and cultural events has created a favorable environment for the growth of the Event Tickets market. In conclusion, the Event Tickets market in Bhutan is experiencing significant growth and development. Customer preferences for experiential consumption, trends in the market such as online ticket sales, local special circumstances including cultural festivals, and underlying macroeconomic factors contribute to this positive trend. As Bhutan continues to attract tourists and promote cultural events, the Event Tickets market is expected to continue its growth trajectory.
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.
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