Event Tickets - Burkina Faso

Burkina Faso

Revenue in the Event Tickets market is projected to reach US$23.61m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 9.75%, resulting in a projected market volume of US$34.26m by 2028.
The Music Events market has a projected market volume of US$9.98m 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$39.84 in 2024.
In the Event Tickets market, the number of users is expected to amount to 726.3k users by 2028.
User penetration in the Event Tickets market will be at 2.5% in 2024.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Event Tickets market in Burkina Faso is experiencing significant growth and development.

Customer preferences: Customers in Burkina Faso are increasingly interested in attending various events, such as concerts, sports matches, and cultural festivals. They are seeking entertainment and leisure activities to enhance their quality of life and create memorable experiences. The younger population, in particular, is driving the demand for event tickets, as they are more inclined to explore new forms of entertainment. Additionally, there is a growing middle class in the country, which has led to increased disposable income and the ability to afford event tickets.

Trends in the market: One of the key trends in the Event Tickets market in Burkina Faso is the shift towards online ticket sales. With the widespread availability of internet access and the growing popularity of smartphones, customers are increasingly using online platforms to purchase event tickets. This trend is driven by the convenience and ease of online ticketing, allowing customers to browse and purchase tickets from the comfort of their homes. Online ticketing platforms also offer a wide range of events and ticket options, providing customers with more choices and flexibility. Another trend in the market is the diversification of events. Burkina Faso is experiencing a surge in the number and variety of events being organized, catering to different interests and preferences. This includes not only traditional events such as music concerts and sports matches but also niche events like art exhibitions, food festivals, and cultural performances. The increasing diversity of events is attracting a broader customer base and contributing to the overall growth of the Event Tickets market.

Local special circumstances: Burkina Faso has a rich cultural heritage and a vibrant arts scene. The country hosts various cultural festivals and events throughout the year, attracting both local and international participants. These events showcase the country's cultural diversity and contribute to its tourism industry. The government has also been actively promoting the cultural sector, providing support and incentives for event organizers. This favorable environment has further fueled the growth of the Event Tickets market in Burkina Faso.

Underlying macroeconomic factors: The growing economy of Burkina Faso is a significant driver of the Event Tickets market. The country has been experiencing steady economic growth, which has led to an increase in disposable income and consumer spending. As people have more money to spend on leisure activities, the demand for event tickets has risen. Additionally, the government's investment in infrastructure development, such as improved transportation and venue facilities, has made it easier for event organizers to host large-scale events, further boosting the Event Tickets market. In conclusion, the Event Tickets market in Burkina Faso is witnessing rapid growth and development. Customer preferences for entertainment and leisure activities, coupled with the increasing availability of online ticketing platforms, are driving the market. The diversification of events and the government's support for the cultural sector are additional factors contributing to the market's growth. The overall positive macroeconomic factors, including the growing economy and improved infrastructure, are also fueling the demand for event tickets in Burkina Faso.

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.