Event Tickets - El Salvador

El Salvador

Highlights

Revenue in the Event Tickets market is projected to reach US$3.34m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 4.04%, resulting in a projected market volume of US$3.91m by 2028.
The Sport Events market has a projected market volume of US$1.45m in 2024.
In global comparison, most revenue will be generated United States (US$36.26bn in 2024).
The average revenue per user (ARPU) in the Event Tickets market is projected to amount to US$19.04 in 2024.
In the Event Tickets market, the number of users is expected to amount to 191.8k users by 2028.
User penetration in the Event Tickets market will be at 2.6% in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Event Tickets market in El Salvador is experiencing significant growth and development. Customer preferences are shifting towards online ticket purchases, and there is a growing demand for a wide variety of events. This trend is driven by the convenience and accessibility of online platforms, as well as the increasing popularity of live entertainment.

Customer preferences: Customers in El Salvador are increasingly opting for online ticket purchases. This shift is driven by the convenience and ease of use offered by online platforms. With just a few clicks, customers can browse through a wide range of events and purchase tickets from the comfort of their own homes. Online ticketing also eliminates the need to wait in long queues or visit physical ticket outlets. In addition to the convenience of online ticketing, customers in El Salvador are also showing a growing interest in a diverse range of events. From music concerts and sporting events to theater performances and cultural festivals, there is a strong demand for a variety of entertainment options. This indicates a shift in customer preferences towards experiencing a wider range of live entertainment.

Trends in the market: One of the key trends in the Event Tickets market in El Salvador is the increasing popularity of music concerts. International and local artists are attracting large crowds, leading to a surge in ticket sales. This trend is driven by the growing popularity of music genres such as reggaeton, hip-hop, and electronic dance music (EDM). Concerts featuring popular artists are often sold out quickly, highlighting the high demand for live music events. Another trend in the market is the rise of sports events. El Salvador has a strong passion for soccer, and matches featuring the national team or local clubs attract a large number of spectators. In addition to soccer, other sports such as basketball, volleyball, and boxing are also gaining popularity. This trend is contributing to the growth of the Event Tickets market, as fans are eager to attend live sporting events.

Local special circumstances: El Salvador has a young population, with a significant portion of the population under the age of 30. This demographic factor plays a role in shaping customer preferences in the Event Tickets market. Younger consumers are more likely to be tech-savvy and comfortable with online ticket purchases. They also have a greater interest in attending a variety of events, contributing to the demand for a diverse range of tickets.

Underlying macroeconomic factors: The growing Event Tickets market in El Salvador is supported by favorable macroeconomic conditions. The country has experienced steady economic growth in recent years, leading to an increase in disposable income. This allows consumers to allocate a portion of their income towards entertainment and leisure activities, including attending events. The stable economic environment provides a conducive backdrop for the growth of the Event Tickets market. In conclusion, the Event Tickets market in El Salvador is experiencing significant growth and development. Customer preferences are shifting towards online ticket purchases, driven by convenience and accessibility. There is also a growing demand for a wide variety of events, including music concerts and sports matches. The young population, favorable macroeconomic conditions, and the passion for live entertainment contribute to the growth of the market.

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.